Reverse Repo has ~$71B left until it is fully drained. QT continues unabated.

The question that remains is whether this will cause a September 2019-like overnight rate spasm that forces the Fed to step in with extraordinary measures or whether the structural changes they've made over the last 5+ years will work. If the reverse repo market drains without any rate spasms, QT will move its focus to bank balance sheets.

Something to pay attention to.