Global liquidity dashboard
A practical framework for reading central-bank balance sheets, money, dollar conditions, and the change in liquidity impulse.
Summary
Global liquidity is not one series. A useful view combines major central-bank balance sheets, broad money, cross-border dollar conditions, and the direction of change.
Why it matters
The level of liquidity can be supportive while the impulse is deteriorating, or restrictive while beginning to improve. Markets often care about that change at the margin.
What to watch
Central-bank balance sheets
Broad money growth
Dollar funding conditions
Liquidity impulse
Research workflow
- 01Build the aggregate
- 02Separate level from momentum
- 03Adjust for dollar and FX effects
- 04Test against credit, breadth, and high-beta assets