Meanwhile, what is going on with the fed needing to cover banks lately?
https://www.dcreport.org/2026/01/01/ny-fed-follow-up-34b-cash-infusions-wall-street/
"On Sunday evening the New York Federal Reserve made another gigantic infusion of cash into one or more Wall Street banks.
On Monday DCReport revealed that after going more than five years with little to no cash infusions from the New York fed, one or more of the big Wall Street banks has been requiring gigantic infusions of cash since Halloween. On the day after Christmas at 8:00 in the morning there was a $17 billion cash infusion, our economics correspondent James S. Henry discovered.
Things have taken a turn for the worse.
On Sunday December 28th at 5 PM, when banks are closed, the New York Fed infused one or more Wall Street banks with $34 billion of cash.
Soon after, the Chicago Mercantile Exchange tightened requirements to speculate in silver and gold. The CME, as it’s known to traders, said this was a routine action to make sure the silver and gold markets remain liquid and firm.
The CME said the tightening was in response to volatility in the market for those two precious metals. That announcement went to subscribers to its alerts and was not reported, as best we can tell, in major press reports.
Cash infusions to banks are a standard operating practice. Sometimes banks get short on cash. But from early July of 2020 until Halloween there were virtually no such deals by the New York Fed helping Wall Street banks.
Then, in a scary move, one or more of the banks got $51 billion of cash on Halloween. The cash infusions from Friday and Sunday also equaled that amount. These huge cash infusions come after the New York Fed lifted the caps on how much the banking industry can get in emergency cash infusions.
The NYFed’s poorly worded Dec. 10 announcement went unreported by major news organizations."