Markets•Jan 16, 2026•7 min read
Macro & liquidity weekly brief
Rates are calm and credit spreads stable. This brief explains where risk can expand and where it should not.
macroliquidityweekly
What changed
Policy expectations flattened while funding costs eased. Credit spreads remain tight but sensitive to macro surprises.
Why it matters for allocation
Stable rates allow tactical risk-on exposure, but only when liquidity breadth is positive. Credit stability is the gating factor this week.
What the model does
Risk regime stays neutral-positive with exposure capped at 1.1x. If funding spreads widen, the cap drops automatically.
What to do next
Use the dashboard to view regime triggers and see how exposure would shift under a funding shock scenario.
Meridian Macro Desk
Editorial