Global Net Liquidity tracks the combined balance sheet assets of major central banks minus key liquidity-draining operations. Formula: Fed + ECB − Overnight Reverse Repos (RRP) − Treasury General Account (TGA), all converted to USD. Bank of Japan data is included when available from FRED. Rising global net liquidity signals easier financial conditions and increased risk appetite for equities and crypto. Declining liquidity typically precedes market corrections. Data sourced from FRED (Federal Reserve Bank of St. Louis) using series WALCL, ECBASSETSW, RRPONTSYD, and WTREGEN.