Latest data show that Global Liquidity is, at best, flat lining. This is confirmed in the following two charts. The first show our daily index of market liquidity: a measure of the depth and accessibility of financial markets, ie the ability to transact in large size, close to current prices. It is plotted as an index with range 0-100. The second chart, shown in index form against 13-week changes in US$ flows, compares market liquidity and funding liquidity, its ultimate driver and the Global Liquidity measure we prefer to cite. This data, which is reported weekly, also evidences a near-term slowdown.
© 2025 Michael Howell
Substack is the home for great culture