Markets are trained to react to monetary policy as if it were breaking news.A rate hike surprises. A press conference disappoints. A CPI print shifts […]
Category: Market Regimes
Liquidity Is Not Money: Understanding the Real Driver of Regimes
Liquidity is one of the most frequently cited explanations for market behavior—and one of the least understood. It is invoked to explain rallies, selloffs, volatility […]
Why FX Markets Change Only When Incentives Change?
FX markets are often described as fast, liquid, and highly efficient. Despite trillions of dollars traded daily, currency markets are frequently range-bound for months, until […]