In the past month, global money markets have remained relatively stable but continue to reflect the cautious sentiment surrounding central bank policy decisions, inflation control, and liquidity dynamics. Key variables such as the federal funds rate, overnight index swaps (OIS), Treasury bill yields, commercial paper rates, and repurchase agreements (REPOs) suggest a tightly clustered environment of short-term interest rates in the 4% to 4.5% range. This pattern points to consistent monetary policy across major economies, especially in the United States. The Federal Funds Rate remains within the target range of 4.25% to 4.50%, with the effective rate averaging around 4.33%. This has been a key anchor for other money market instruments, influencing the pricing of repurchase agreements and short-term government debt. Notably, the Overnight Index Swap (OIS) for 1-year maturity has increased slightly...