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Fed Net Liquidity

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Fed Net Liquidity

What it is

Fed Net Liquidity — registry key net_liquidity.

Drives the categorical liquidity_signal; scored there.

Data-pyramid tier

T1 — Signal. This metric sits at the signal layer of the platform’s six-tier data pyramid (T0 raw inputs → T5 actionable read). The tier reflects how far the value is from a raw measurement — not how strongly it is validated. Abstraction and validation are separate axes: a higher tier is not a claim of stronger evidence.

Horizon & validation

No validated skill horizon is on file for this metric — read it as context / a data carrier, not a validated edge. Stamps are added only when a gated research verdict lands.

Source

Source module: liquidity
Data source: back_fillable

Fetched directly from app/sources/liquidity.py; see source code for the upstream API call and any provider-specific handling.

How it’s computed

US net liquidity in $B: WALCL − TGA − RRP (Fed assets minus Treasury General Account cash minus reverse-repo). See app/sources/liquidity.py:77 — walcl_b - tga_b - rrp_b.

Where it surfaces

Bands / thresholds

Classifier direction: higher_is_better.

Range Label Dot Implication Points
— Expanding favorable BULLISH —
— Adequate leaning BULLISH —
— Contracting cautionary BEARISH —
— Tight adverse BEARISH —

Health-score / alignment role

Display-only — has bands for surface labeling but does not contribute to the health score (scoring is handled by a companion metric).

Release cadence

cadence corrected 2026-06-12 (PR-4/L1-9): WALCL−TGA−RRP composite — refresh cadence = fastest component (rrp, daily via FRED); the weekly walcl/tga legs carry forward between prints. Was mislabeled intraday.

See also