美国货币市场突然遭遇流动性压力，华尔街发出最新预警

Group 1 - The U.S. money market experienced sudden liquidity pressure, prompting warnings from Wall Street investment banks that this may not be a one-time event, indicating ongoing liquidity risks in the market [1] - The Federal Reserve announced the end of its three-year balance sheet reduction (QT) due to increasing signs of liquidity tightening, with the overnight general collateral repo rate surging to 4.32%, exceeding the Fed's policy rate range for the first time since 2020 [2][3] - Analysts suggest that if liquidity pressure does not ease, the Federal Reserve may need to resume asset purchases, as the current environment is no longer characterized by ample reserves, leading to potential liquidity crises [4] Group 2 - Similar liquidity tightening signals are observed in Europe and the UK, with the euro short-term rate aligning closely with the European Central Bank's deposit rate, indicating reduced excess liquidity in the eurozone [5] - In the UK, the overnight repo index average rose to 4.28%, reflecting increased demand for funds as banks repay record amounts of loans from the Bank of England, suggesting rapid liquidity outflow from the market [5] - Global money markets must adapt to operate without excess reserves, raising concerns about whether central bank liquidity can effectively reach areas of need [6]