Repo fails, a measure of collateral flow throughout the entire financial system, soared to more than $300 billion as of the middle of December. It was the highest for any non-quarter end week going back to June 2023. At the same time, borrowing from the Fed’s repo facility is way up again as investors refuse to buy the spin from private credit that their portfolios are just fine and from central bankers who say the same thing about the economy. 

Eurodollar University's Money & Macro Analysis

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EDU LIVE PRESIDENT'S DAY FEBRUARY 2026

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WSJ The Private-Credit Party Turns Ugly for Individual Investors
https://www.wsj.com/finance/investing/the-private-credit-party-turns-ugly-for-individual-investors-287356f9

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