PANORAMA

See what moves your wealth

Net Liquidity

Updated Mar 15, 2026, 07:09 AM

is expanding, now in the 100th percentile of the past 12 weeks

DeviationAbove normal+1.3σ
Well belowWell above
AI Interpretation
medium

Liquidity Signals: Upward Momentum Builds

What's happening

has surged to a 4-week high of 5,808,158, marking three consecutive weeks of upward movement. This trend accelerates against the backdrop of the March 2026 FOMC meeting's rate pause and reduced to $25B per month starting April 2026.

What it means for you

While the 52-week view shows a net decline, short-term dynamics suggest potential market resilience. During similar expansion periods like 2021-2022, equity markets demonstrated significant adaptive capacity.

What to watch

Treasury's drawdown strategy ahead of July 2026 debt ceiling expiration
Fed's April 2026 implementation and potential impact
Ongoing US-China trade tension resolution signals

The Cost of Borrowing

Updated Mar 22, 2026, 12:20 PM

is rising, now in the 75th percentile of the past 12 weeks

Every mortgage, every corporate loan, every long-term investment follows one benchmark — the 10-year Treasury yield. When it moves, the price of money moves with it.

DeviationAbove normal+0.9σ
Well belowWell above
AI Interpretation
high

10-Year Rates: Upward Pressure Builds

What's happening

The 10-year Treasury yield is experiencing sustained upward , with rates climbing from 3.97% in February 2026 to a recent high of 4.28% in March 2026. This movement coincides with the Fed's March 2026 FOMC meeting and ongoing US-China trade tensions, suggesting growing economic uncertainty.

What it means for you

The 75th positioning across 4, 12, and 52-week windows indicates a persistent upward trend in rates, reminiscent of the seen during the 2022-2023 inflation adjustment period. Investors should expect continued rate sensitivity to geopolitical and monetary policy developments.

What to watch

July 2026 debt ceiling suspension deadline
April 2026 reduced pace of $25B/month
Ongoing US-China trade tariff negotiations

High Yield Spread

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Trade-Weighted Dollar

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VIX

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Consumer Sentiment

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