I did see somewhere that on last Thursday or Friday the dollar amount of overnite reserves borrowed  or traded spiked to very high levels. Now this. Appears that the sharp FED hikes are starting to be felt in the short term lending markets. Whether this is another Lehman as noted below or the FED will step in to avoid a domino effect is yet to be seen. Usually where there is smoke, there is fire.                                              https://www.investmentwatchblog.com/dtc-settlement-alert-money-market-instrument-mmi-issuer-failure-again-hsbc-bank-usa-na-mmb6-is-hsbc-having-problems/