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Stocks Are Rising Despite Falling Liquidity Amid Mounting Risks

By Seeking Alpha April 24, 2026 Neutral
Stocks Are Rising Despite Falling Liquidity Amid Mounting Risks
Equity markets have risen despite a sharp liquidity drain around tax season, defying historical patterns. Fed reserve balances have fallen to $2.9 trillion, with the Treasury General Account rising, creating a negative liquidity impulse.
Equity markets have risen despite a sharp liquidity drain around tax season, defying historical patterns. Fed reserve balances have fallen to $2.9 trillion, with the Treasury General Account rising, creating a negative liquidity impulse.