Manufacturing data keeps screaming bullish. Liquidity keeps saying fuck no.
Guess which one actually moves markets? 💀
You can have all the production capacity in the world, but if there's no liquidity flowing through the system, price goes nowhere. We've seen this movie before.
Right now we're in that awkward phase where fundamentals look decent on paper but the money simply isn't there to push things higher. Classic liquidity trap.
Watch the Fed balance sheet. Watch reverse repo. Watch bank reserves. That's your real signal - not some factory output number.
Guess which one actually moves markets? 💀
You can have all the production capacity in the world, but if there's no liquidity flowing through the system, price goes nowhere. We've seen this movie before.
Right now we're in that awkward phase where fundamentals look decent on paper but the money simply isn't there to push things higher. Classic liquidity trap.
Watch the Fed balance sheet. Watch reverse repo. Watch bank reserves. That's your real signal - not some factory output number.