We remain optimistic and resolute in our projection that the Global Liquidity cycle bottomed in October 2022 and looks set to expand until its next peak sometime around late-2025. We warned earlier this year about a likely Q2, 2024 ‘air pocket’ in Global Liquidity, which is now clear from the data and the market reaction. How long could this last? This note tries to answer some of the questions we have recently received about the future path of Global Liquidity. Readers should forgive the unusually large number of charts, but these do help to better illustrate our arguments.
© 2024 Michael Howell
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