He focused on the 'repo' market, in which firms sell assets in exchange for cash to fund operations, often just overnight or for a few days.

企业可以在这个市场上短期出售资产为业务筹集现金，其时限往往只是隔夜或几天时间。

youdao

In the repo market, where dealers sell government securities to investors on an overnight basis and buys them back and take a small profit, yields have jumped.

FORBES: Debt Ceiling Ripples Spread To Money Markets, Repos, Volatility