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The Impact of Global Liquidity on Asset Prices
The top 10 global central banks took assets off of their balance sheet at the Federal Reserve in Q1. But specifically Asian countries in China, they were the ones who are pumping tons of liquidity into the market. And so there was a net gain of liquidity globally based on those top 10 central banks even though the United States was kind of working against the trend here. So I think you need really a lot of offset the other way, right?