Put the stock market and official government reports aside and consider the $7 Trillion pool of investment dollars moving through our markets every business day. As we move into the Holiday period the Federal Reserve is supporting the global REPO (borrowing on government securities by the largest global banks) market by making at least $1/2 Trillion available with reported much more to come. There has been a growing instability in this key market since mid-year 2019 and it’s getting worse. BTW, it is totally out of character for the FED to prop up this market with one wondering if one or more global money center banks is in trouble since banks seem to have an aversion lending to each other via REPO’s (a strategic and large source of global liquidity).