🚨 GLOBAL LIQUIDITY WARNING
Major central banks aren’t easing anytime soon. Even as the Fed ends QT, the ECB, BoE, and BoJ are expected to shrink balance sheets by -$1.2T in 2026.
Since 2023, G4 central banks will have unwound ~$5T, reversing 65% of pandemic stimulus.
Liquidity is tightening — markets will feel it.
