Data to 5 October 2026

Is the world helping or hurting Indian shares?

US net liquidity

5,747
US$ billion, 30 Sept 2026

Above its usual range of 1,889 to 5,616. The record is 7,088, in November 2021. Down from 5,821 a year ago.

2010202002,0004,0006,0008,0007,088, Nov 2021usual range, 1,889 to 5,6165,7472005201020152020202502,0004,0006,0008,0007,088, Nov 2021usual range, 1,889 to 5,6165,7472005201020152020202502,0004,0006,0008,0007,088, Nov 2021usual range, 1,889 to 5,6165,7472005201020152020202502,0004,0006,0008,0007,088, Nov 2021usual range, 1,889 to 5,6165,747

What it is. The Federal Reserve's balance sheet minus the Treasury's cash account and reverse repos, in US$ billion.

How to read it. A popular gauge of dollars in the financial system. Over the full period it has explained little of foreign flows into India.

Source: Board of Governors of the Federal Reserve System, H.4.1 Factors Affecting Reserve Balances Method Data

The numbers

Latest5,74730 Sept 2026
A week ago5,800
A month ago5,771
A year ago5,821
Usual range1,889 to 5,616
Median3,748
Lowest70629 Jan 2003
Highest7,08824 Nov 2021
Percentile, full history77
Percentile, last 5 years8

The usual range is the middle half of readings since 2002. A percentile is the share of the 1,242 readings since 18 Dec 2002 that were below today's. Data: statistics, history (JSON); history as CSV.

To cite: tipsheet, “US net liquidity”, data to 30 Sept 2026, https://tipsheet.markets/i/us-net-liquidity/

Read it with

US CPI inflation 3.4%usual
Fed balance sheet 6,743below its record
US 10-year minus 2-year +0.45 ptsusual
US 10-year real yield 2.92%above usual
The broad dollar 121.4above usual

the usual range: the middle half of all readingstodayEach line runs from the lowest reading ever to the highest.