This indicator is an implementation of the USD Liquidity Index originally proposed by Arthur Hayes based on the initial implementation of jlb05013, kudos to him! I have incorporated subsequent additions (Standing Repo Facility and Central Bank Liquidity Swaps lines) and dealt with some recent changes in reporting units from TradingView.
This is a macro indicator that aims at tracking how much USD liquidity is available to chase financial assets: - When the FED is expanding liquidity, financial asset prices tend to increase - When the FED is contracting liquidity, financial asset prices tend to decrease
Here is the current calculation: Net Liquidity = (+) The Fed’s Balance Sheet (FRED:WALCL) (-) NY Fed Total Amount of Accepted Reverse Repo Bids (FRED:RRPONTTLD) (-) US Treasury General Account Balance Held at NY Fed (FRED:WTREGEN) (+) NY Fed - Standing Repo Facility (FRED:RPONTSYD) (+) NY Fed - Central Bank Liquidity Swaps (FRED:SWPT)
Looking great! One question, how often is TGA updated?
PragmaticMonkey
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@Perb99c0, thanks ser :) The TGA number is the Week Average and is updated once a week (source: fred.stlouisfed.org/series/WTREGEN). It's not ideal, but as far as I know, that's the only public data readily available.