Clipping in Cubase when Stereo Out is not clipping?


I’ve almost broken my head with this one, but
why do the main Meter and exported mix are clipping, while stereo out shows me I still have headroom? I checked, pre-gain is 0db, Cues, Direct Routing.
Tested it out with a test generator, looks like +6db are added to my stereo out.
Any suggestions?

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Stereo Out channel was hidden.
In the visibility tab, I added it back and it had +6 db.