Fed Reverse Repo must be done on a one day at a time basis to be effective.
Think about it: a 2 day reverse repo would not do the same thing. It would be effectively a one day reverse repo, buying only on the first day only.
So you see each day the Fed is Buying Notes. The Purpose is to Buy Notes at the Low end to "support price" of the Low End of the Yield Curve; this keeps rate low, or helps lower it.
When Price goes Up, Yield goes Dn. When Price goes Dn, Yield goes Up.
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