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Net Liquidity vs S&P 500

Live side-by-side comparison with current values, changes, and key statistics.

Liquiditydaily
Convex Net Liquidity Index

No data available

Equity Indexdaily
S&P 500 ETF (SPY)

No data available

Why This Comparison Matters

Net liquidity (Fed balance sheet minus RRP minus TGA) is the single most powerful driver of risk asset performance. When net liquidity expands, equities tend to rally; when it contracts, they face headwinds. This comparison reveals whether current equity levels are supported by underlying liquidity or are vulnerable to a liquidity withdrawal.

90-Day Statistics

Convex Net Liquidity Index

No data available

S&P 500 ETF (SPY)

No data available

Explore Each Metric

Convex Net Liquidity Index
Convex Net Liquidity Index — Fed Balance Sheet minus Reverse Repo minus TGA. Measures actual liquidity flowing into markets.
S&P 500 ETF (SPY)
SPDR S&P 500 ETF — tracks the benchmark US equity index.

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Data sourced from FRED, CoinGecko, CBOE, and other providers. This page is for informational purposes only and does not constitute financial advice. Past performance does not guarantee future results.