Repo Stress Is Cracking the Markets — And Wall Street’s Not Ready for What’s Next

When markets fall, the mainstream media always scrambles to slap on a story. “Earnings miss.” “Rates too high.” “Geopolitical uncertainty.” That’s the convenient narrative. But as usual, the real answer lies far below the surface — in the shadow system that props up the entire house of cards. This time, it’s not a war, a Fed rate hike, or a bad CPI print. This time, it’s the plumbing. According to JPMorgan futures and options trader Marissa Gitler, the recent selloff in equities isn’t being driven by macro fears at all. It’s being driven by repo stress — the invisible funding strains that Wall Street doesn’t like to talk about until it’s too late. Let’s be clear: when repo breaks, the…