CONVEX

Liquidity

Fed balance sheet, reverse repo, TGA, and net liquidity data. Understand the plumbing that fuels or drains risk assets.

Liquidity is the oxygen of financial markets. When the Fed expands its balance sheet or the Treasury draws down the TGA, excess reserves flow into risk assets. The reverse repo facility acts as a barometer of surplus cash in the system. Tracking net liquidity, the Fed balance sheet minus TGA and reverse repo, has been one of the strongest macro signals of the post-2020 era.

Data as of · 11 metrics with live data

Fed Balance Sheet

weekly
$6.73T

Total assets held by the Federal Reserve, the QE/QT gauge.

Overnight Reverse Repo

daily
$0B

ON RRP facility balance, liquidity buffer absorbing QT before reserves drain.

Treasury General Account

weekly
$839B

Treasury's cash balance at the Fed, drawdowns inject liquidity into markets.

M2 Money Supply

monthly
$23B

Broad money supply including cash, checking, savings, and money market funds.

Total Reserves

monthly
$3B

Total reserves of depository institutions at the Federal Reserve.

Monetary Base

monthly
$5B

Currency in circulation plus bank reserves, the Fed's narrowest money measure.

Reserve Balances at Fed

weekly
$3103B

Bank reserve balances deposited at the Federal Reserve, critical QT floor indicator.

Credit Card Loans (Banks)

weekly
$1B

Outstanding credit card loans at all commercial banks.

Convex Net Liquidity Index

daily
$5.89T

Convex Net Liquidity Index, Fed Balance Sheet minus Reverse Repo minus TGA. Measures actual liquidity flowing into markets.

Japan Monetary Base

monthly
6,621,318

BoJ monetary base (banknotes plus coin plus BoJ current-account balances), in 100 million yen. Core liquidity gauge for the yen system (series MA02'MABS1AA000).

BoJ-held JGB Aggregate

monthly
--

Aggregate Japanese Government Bonds held on the BoJ balance sheet, in 100 million yen (series BS01'MABSPR01). Tracks YCC unwind and QT progress.

SNB Currency Reserves (CHF)

monthly
877,670

Total currency reserves held by the SNB in millions of Swiss francs (cube snbbipo, summed across asset classes). Tracks FX intervention and reserve-diversification moves.

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Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated at varying frequencies. This page is for informational purposes only and does not constitute financial advice.