Watch the video also.
Much has been written on this forum about Repo. June is the time it will end. Then what. Till then expect market to go up up up …

“The rally didn’t really take off until the repo crisis forced the Fed into treasury bill buying and repo in October of 2019.
Everything exploded higher, far above any fundamental basis, and markets, already on a multiple expansion train in 2019, just went into the stratosphere continuing this run into February of this year while the Fed continued to go wild:”

The Big Dodge

old Post on liquidity indicator:

Credit market Libor3 to 3 month T bill ratio