Market liquidity is surging:
The Treasury General Account (TGA) dropped -$78 billion over the last week, the largest liquidity injection since June.
The TGA is the US government’s main cash account at the Federal Reserve, and when it declines, cash flows directly into the financial system and boosts liquidity.
This marks the 4th-largest weekly drop this year.
Meanwhile, the Fed is set to buy ~$40 billion worth of Treasuries from December 12th to January 14th through its reserve management purchases.
On top of that, the central bank will use ~$14.4 billion of principal payments from its Mortgage-Backed Securities (MBS) to buy Treasury bills over the same period.
A wave of new liquidity is here.
Financial market stress has forced the U.S. Federal Reserve to end quantitative tightening and pivot to liquidity support, expected in the form of QE-lite, a moderate expansion of the balance sheet in line with nominal gross domestic product (GDP) growth. pic.twitter.com/qS7Hvr2vVo
— QuantVue (@getquantvue) December 15, 2025
For those keeping score at home, this new QE will actually be QE5. We had QE4 after the Covid Crash in 2020. https://t.co/GHMcZNIbvC pic.twitter.com/gtetgVdQxz
— Tom McClellan (@McClellanOsc) December 15, 2025
LONDON, Dec 12 (Reuters) – Copper is closing in on the $12,000 a metric ton mark as expectations of soaring demand from data centres that power artificial intelligence and tight supplies collide with shortages outside the United States.
Valued for its exceptional electrical conductivity, copper wiring is vital in power grids that feed data centres, electric vehicles and the infrastructure needed for the energy transition.
Copper prices are up 35% so far this year and heading for their largest gain since 2009, due to mining disruptions and stockpiling in the U.S. On Friday, they touched $11,952 a ton.
“Investors who want a broad basket of AI interests will also buy into financial products which include hard assets that feed into data centres,” said Benchmark Mineral Intelligence analyst Daan de Jonge. “Investors will buy copper-related assets such as ETFs.”