Blockunity US Market Liquidity (BML)

Get a clear view of US market liquidity and monitor its status at a glance to anticipate movements on risky assets.

The Idea
The BML aggregates and analyzes total USD market liquidity in trillions of dollars. It is used to monitor the liquidity of the USD market. When liquidity is good, all is well. If liquidity is low, the US will maneuver and sell treasury bills (debt) to replenish its treasury, which can lead to bearish pressure on markets, particularly those considered risky, such as Bitcoin.

How to Use
The indicator is very easy to use, there's nothing special about it. This tool is mainly intended to be used as fundamental information, and not for active trading.

The US Market Liquidity has several distinct components:

FED Balance Sheet
The Fed credits member banks’ Fed accounts with money, and in return, banks sell the Fed US Treasuries and/or US Mortgage-Backed Securities. This is how the Fed “prints” money to juice the financial system.

US Treasury General Account
The US Treasury General Account (TGA) balances with the NY Fed. When it decreases, it means the US Treasury is injecting money into the economy directly and creating activity. When it increases, it means the US Treasury is saving money and not stimulating economic activity. The TGA also increases when the Treasury sells bonds. This action removes liquidity from the market as buyers must pay for their bonds with dollars.

Overnight Reverse Repurchase Agreements
A reverse repurchase agreement (known as Reverse Repo or RRP) is a transaction in which the New York Fed under the authorization and direction of the Federal Open Market Committee sells a security to an eligible counterparty with an agreement to repurchase that same security at a specified price at a specific time in the future.

Earnings Remittances Due to the Treasury
The Federal Reserve Banks remit residual net earnings to the US Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank’s allotted surplus cap. Positive amounts represent the estimated weekly remittances due to the US Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus.

Several parameters can be defined in the indicator configuration. You can:
  • Choose the smoothing and timeframe to be used in the plot.
  • Set the EMA lookback period and display it or not. This affects the color of the main plot.
  • Set the period to be taken into account when calculating the variation rate in the table.
  • Select the data to be taken into account in the calculation.
  • Activate or not the barcolor.
  • Lastly, you can modify all table parameters.

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