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 can support risk assets, but only when liquidity breadth is positive. Credit stability remains the gating factor this week.
What the model does
Risk regime stays neutral-positive with a 1.1x reference cap. If funding spreads widen, the cap drops automatically.
What to do next
Use signals to view regime triggers and compare them with your own policy under a funding shock scenario.
Meridian Macro Desk
Editorial