Macro Terminal
A composite read of US dollar liquidity conditions, scored from 12 macro indicators across Fed policy, funding plumbing, credit, and risk. Updated every 6 hours from public Fed and Treasury data.
<= P20 Mildly loose
P20-P50 Mildly tight
P50-P80 Tight
>= P80
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Core indicator modules
Policy / Reserves
Fed balance sheet, TGA, and ON RRP: the primary supply-side liquidity levers.
Funding / Plumbing
SOFR-IORB spread and SRF usage: real-time stress signals from funding plumbing.
Credit / Intermediation
Bank cash buffers and high-yield spreads: how willing intermediaries are to lend.
Risk / Price
VIX, dollar strength, and real yields: market price feedback on liquidity conditions.
Broader Liquidity
Composite and broader monetary indicators for context, not included in DLI scoring.
Offshore / Global Dollar Reference
Fed swap lines, CP funding stress, foreign Treasury holdings, and ECB/BoJ balance sheets: reference indicators for offshore dollar funding and global central-bank liquidity. Not included in DLI scoring.