Did the Fed Backdoor Bailout with Reverse Repo Start?

I've had a ton of you point out the recent drop in the reverse repo facility to me lately on Twitter, as we can see here. The reverse repo facility had a peak of about $2.4 trillion on September 30th, and it has significantly fallen off since then. On October 4th, sitting around 2.2 trillion. A lot of people have pointed out that that may be what is contributing to the drop in yields, the rise in asset prices over the last few days as well. I'm not so sure, we're going to dive into the detail. I don't think this is the reverse repo bailout that I've been predicting on this channel for a long time. I think that's still to come. Let's get into the details.