Market liquidity has shown clear signs of recovery after a prolonged period of tightening and caution. Trading volumes have improved, bid ask spreads have narrowed in key markets, and funding channels are functioning more smoothly. On the surface, it appears that liquidity is broadly back. A closer look, however, reveals a more selective reality. Liquidity […]
Late year trading increasingly gives the impression of healthy activity without delivering meaningful depth. Prices move, volumes print, and markets appear engaged, yet execution often feels thin and unreliable. This disconnect creates what many participants experience as a liquidity mirage, where apparent opportunity fades the moment size enters the market. The shift is structural rather […]
Global financial markets are entering a phase where liquidity is no longer expanding or contracting in a clear direction. Instead, it is moving sideways, creating an environment that feels stable on the surface but constrained underneath. This shift is influencing how assets behave, how risk is priced, and why markets struggle to build sustained momentum. […]
