Could someone please explain what effect the following has on the market & more importantly trading? Or does this only affect bond trading? NEW YORK, July 18 (Reuters) - The Federal Reserve said on Thursday it was adding temporary reserves to the banking system by overnight fixed system repurchase agreements, its second open market intervention of the session. Earlier, the Fed added $4.0 billion by 28-day repos. The Fed accepted the following as collateral: -- $2.506 billion in Treasuries, stop out 1.72 percent, -- $0.830 billion in agencies, stop out 1.76 percent, -- $0.664 billion in mortgage-backed securities, stop out 1.77 percent. Federal funds were trading at 1.688 percent, below the central bank's 1.75 percent target for the rate.