One state of US dollar liquidity (adding, steady or draining, from net liquidity's 30 day change) with its drivers, their sources and known times, bank reserves from the Federal Reserve Board's H.4.1, and repo against the Fed's range; plus Fed balance, Treasury General Account, M2 money supply, composite net liquidity tracking with 7d/30d/90d trend changes and percentile rankings, NY Fed System Open Market Account (SOMA) total holdings, and daily reverse-repo take-up
Fed Balance Sheet: Federal Reserve total assets, in millions of US dollars: the Wednesday level from the Federal Reserve Board's H.4.1 release, published each Thursday afternoon. Source: Federal Reserve Board (H.4.1), Weekly, each Thursday evening.
Treasury General Account: The Treasury General Account at the Federal Reserve, in millions of US dollars: the week average from the Federal Reserve Board's H.4.1 release, published each Thursday afternoon. Source: Federal Reserve Board (H.4.1), Weekly, each Thursday evening.
Net Liquidity: Net liquidity proxy - Fed balance sheet minus reverse repo and Treasury account balances Source: PreReason's calculation from the Federal Reserve Board's H.4.1 (balance sheet, TGA) and the New York Fed (reverse repo), Recomputed hourly; its inputs weekly (H.4.1) and each business day (reverse repo).
M2 Money Supply: United States M2 broad money supply, seasonally adjusted, in billions of US dollars: monthly, from the Federal Reserve Board's H.6 release, published on the fourth Tuesday of the following month. The Board revises earlier months with each release, and the series here is kept at its current values. Source: Federal Reserve Board (H.6), Monthly, the fourth Tuesday.
NY Fed SOMA Holdings: The Federal Reserve's System Open Market Account holdings in total, at par value, in US dollars: weekly, as of each Wednesday, from the New York Fed's own Markets API.
BIS Global Liquidity (USD): The Bank for International Settlements' global liquidity indicator for the US dollar: credit in dollars to borrowers outside the United States. Quarterly, published with a lag of about two quarters. Carried inside the macro liquidity briefing.
Bank Reserves (week average): Reserve balances that depository institutions hold at the Federal Reserve Banks, the week average, in millions of US dollars: weekly, from the Federal Reserve Board's own H.4.1 release, posted each Thursday afternoon.
Net Liquidity: Net liquidity proxy - Fed balance sheet minus reverse repo and Treasury account balances Source: PreReason's calculation from the Federal Reserve Board's H.4.1 (balance sheet, TGA) and the New York Fed (reverse repo), Recomputed hourly; its inputs weekly (H.4.1) and each business day (reverse repo).
Correlations
Measured over 90 days:
Fed Balance Sheet and Net Liquidity
Treasury General Account and Net Liquidity
NY Fed SOMA Holdings and Fed Balance Sheet
nyfed-rrp-daily and Net Liquidity
Questions about the Liquidity Momentum briefing
What is in the Liquidity Momentum briefing?
One state of US dollar liquidity (adding, steady or draining, from net liquidity's 30 day change) with its drivers, their sources and known times, bank reserves from the Federal Reserve Board's H.4.1, and repo against the Fed's range; plus Fed balance, Treasury General Account, M2 money supply, composite net liquidity tracking with 7d/30d/90d trend changes and percentile rankings, NY Fed System Open Market Account (SOMA) total holdings, and daily reverse-repo take-up. It holds 9 metrics and 4 correlation pairs over 90 days, each figure with the date it describes and the source it came from.
Which plan reads the Liquidity Momentum briefing?
The Basic plan reads it, and every plan above Basic.
How does an AI agent read the Liquidity Momentum briefing?
Over MCP, with the get_context tool and the briefing id macro.liquidity. Over REST, with GET https://api.prereason.com/api/context?briefing=macro.liquidity and an API key, as Markdown (the default) or JSON (format=json).
Can I read the Liquidity Momentum briefing as of a past date?
Yes, with date=YYYY-MM-DD. A dated read serves only periods released by that date, and each figure says when it was public, or that it may be a later revision. How far back depends on the plan; on the Basic plan: The last 3 years. Higher plans reach further.
Where does the data in the Liquidity Momentum briefing come from?
Each figure names its source and the date it describes. The data sources page (https://www.prereason.com/data-sources) lists every source PreReason reads.
API: GET /api/context?briefing=macro.liquidity
Format options: ?format=markdown (default) or ?format=json