Global Liquidity data for firms.
The weekly BlockPhi Global Liquidity Model, licensed by API or CSV.
For funds, market makers, family offices, treasury companies and data platforms.
- Global Liquidity
- $198.20
- Collateral base
- $104.84
- Central bank money
- $26.06
- Sovereign debt
- $78.77
- Collateral multiplier
- 1.8905
- Global Liquidity
- $198.20
- Collateral base
- $104.84
- Central bank money
- $26.06
- Sovereign debt
- $78.77
- Collateral multiplier
- 1.8905
The problem
The standard read of liquidity misses most of what credit runs on.
Partial. M2 counts cash and deposits. It leaves out the government bonds that banks, funds and dealers borrow against: about $80 trillion of a collateral base of about $107 trillion on 18 September 2026. Fed net liquidity covers one central bank.
Since January 2020, that sovereign debt has added far more to the collateral base than central bank balance sheets have.
Why it matters
Any model that values assets against liquidity inherits the gaps in its liquidity input. With M2, the gap is the government bond collateral that banks, funds and dealers borrow against.
Why Global Liquidity is not Global M2
The solution
A licence to the whole series: Global Liquidity, the collateral base, the collateral multiplier and the 22 components behind them.
Two licences: internal use, and redistribution for platforms and publishers. Terms, delivery and notice periods are agreed in each licence.
The construction is described on this site: the inputs, the Friday revaluation and what the multiplier is keyed to. A portfolio manager can walk an investment committee through it.
The charts, the methodology and coverageThe data at a glance
- What is measured
- The Global Liquidity Model is a composite that measures the balance-sheet capacity behind global credit: the balance sheets of five central banks plus 17 government debt markets, revalued every Friday in US dollars and multiplied by a collateral multiplier keyed to the US ten-year Treasury yield. The quantity
- Coverage
- 22 components: five central bank balance sheets, each named with its publisher, and 17 government debt markets, with quantities from the Bank for International Settlements (BIS) debt securities statistics. Inputs, by publisher
- History
- Weekly from January 2020. Recorded live since 31 July 2026. Weeks before 31 July 2026 are reconstructed with the current method, each input entering on a lag that follows its usual release schedule. They are not a record of what was known on each date. Component rows are recorded live since 11 September 2026. History, timing and point in time
- Timing
- Weekly, as of Friday. Each component enters at its latest usable value on the Friday, from weekly central bank statements to the quarterly BIS debt securities statistics. Timing
- Delivery and format
- Licensed delivery by API or CSV, set up for each firm once terms are agreed, by Saturday 12:00 UTC. Licensed delivery is not self-serve. Delivery and timing
- Point in time
- Published values are point-in-time: each week is written once and is never revised after publication. The inputs to each publication are hash-archived since 19 September 2026. The policy for a future method change is agreed in each licence. Point in time
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