Global Liquidity Watch: Weekly Update

2024 Has Turned Out To Be A Lacklustre Year For Global Liquidity

2024 has turned out to be a lacklustre year for Global Liquidity. Liquidity levels are just 1% higher on the year. US dollar strength and weak Central Bank liquidity growth have been the main factors holding liquidity in check. Still, we expect liquidity levels to rise a tad more through 2025 and likely peak around Q4. Risk asset markets thrive on strong liquidity, so the subdued pace of the liquidity upturn likely means that the best of the gains are behind us.