The Federal Reserve just quietly injected $31 BILLION into the U.S. banking system through overnight repos — and almost no one is paying attention.
This is the largest emergency-style liquidity injection since COVID, even surpassing the extremes of the Dot-Com bubble era.
Overnight repos are not normal stimulus. They’re a pressure-release valve — used when funding markets start showing stress. When volumes jump this fast, it usually signals that someone behind the scenes needed cash urgently.
Real stress never shows up in headlines first.
It shows up in the plumbing — and the plumbing just flashed red.
We’re starting the year with banks leaning on the Fed more than they have in decades. Liquidity isn’t being promised or discussed — it’s already being used.
So the real question is:
What breaks next… or which assets front-run the liquidity wave?
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