Confluences

Global M2 Confluences

Liquidity rarely acts alone—combine Global M2 with other macro gauges to build conviction and filter noise.

• Rates & Policy: Policy rates (Fed/ECB), 2s10s curve, central-bank balance sheets.

• Inflation: CPI YoY, breakevens; relate liquidity expansions to reflation/disinflation.

• Credit: IG/HY spreads; rising M2 + tightening spreads supports constructive risk tone.

• Dollar: DXY; weaker USD alongside rising M2 often amplifies global risk appetite.

• Volatility: VIX/VVIX; falling vol in the presence of rising M2 favors trend durability.

• Breadth & Flows: A/D lines, ETF flows to validate liquidity-driven advances.

• Crypto Macro: Stablecoin market-cap growth and on-chain activity for crypto contexts.