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Dear all,
Over the past few weeks, I’ve been sensing something in the markets that’s difficult to express with numbers alone.
But if you know where to look, the data is starting to whisper louder - and what it’s saying should not be ignored.
There’s something unnerving about the way liquidity is draining from the system.
It’s not dramatic, but it’s consistent, and for those of us who’ve watched markets through turbulent times, this feels all too familiar.
Liquidity doesn’t just lubricate markets - it defines them.
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