G10 liquidity keeps draining — and equities feel it.
But here's the thing: we're nearing levels where reversals historically happen. Liquidity contractions don't run forever. Markets overshoot in both directions.
Watch the turn. When central banks blink or conditions tighten enough to force a shift, flows reverse fast. The question isn't if, but when — and whether current prices already reflect the squeeze or still have room to fall.
Liquidity is oxygen for risk assets. When it comes back, multiples expand again.
But here's the thing: we're nearing levels where reversals historically happen. Liquidity contractions don't run forever. Markets overshoot in both directions.
Watch the turn. When central banks blink or conditions tighten enough to force a shift, flows reverse fast. The question isn't if, but when — and whether current prices already reflect the squeeze or still have room to fall.
Liquidity is oxygen for risk assets. When it comes back, multiples expand again.
