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Market Facts — August 19, 2004

A Review of Leverage Measures in the Bond Market There is still a record amount of leverage in the bond market. The size of the repo and futures markets are still near their record highs, and the Commitment of Traders data shows Commercial and non-Commercial traders at opposite net extremes.

Open A Review of Leverage Measures in the Bond Market
There is still a record amount of leverage in the bond market. The size of the repo and futures markets are still near their record highs, and the Commitment of Traders data shows Commercial and non-Commercial traders at opposite net extremes.