Structural Liquidity and Asset De-risking Date:  Monday, November 24, 2025 I. Global Liquidity and Interbank Funding Rates The current environment continues to reflect significant fragmentation in the cost of credit across key global jurisdictions, juxtaposed with forward expectations of monetary easing in the US. Benchmark Index Current Rate Date of Fix Jurisdiction Source Fed Funds Rate Effective 3.88% 24-Nov-25 United States [5] 1M Term SOFR 3.954% 24-Nov-25 United States

The Illusion of Stability: Policy Rates, Credit Expansion, and the Fiat Mirage The market's persistent reliance on centrally planned monetary accommodation has driven forward rates into territory that is structurally misaligned with the economic reality of credit risk and inflationary pressure. The current environment is a predictable consequence of discretionary monetary intervention, creating a financial landscape defined by artificially low capital costs  and signaling the

For the week beginning October 6, 2025 , markets experienced strong growth in global equities, supported by continued market consensus...

Joshua Hawley September 23rd, 2025 Market Overview U.S. equity markets saw solid performance. The S&P 500  gained 4.4% over the last...

August 25th, 2025 Joshua Hawley Market Overview U.S. equity markets advanced for the week beginning August 25, 2025. The S&P 500 saw a...

Joshua Hawley CEO August 11th, 2025 Market Overview Markets rallied at the close of last week, with technology stocks leading the way,...

Week of July 21, 2025 Market Overview Global markets continue to price in a more accommodative monetary environment heading into Q4 2025....

Week of July 14, 2025 Joshua Hawley Macroeconomic Overview Markets continued to reflect cautious optimism as the Federal Reserve’s...

July 7, 2025 Joshua Hawley Global Market Summary Global equities extend gains into July, with the S&P 500  reaching record highs (+5.5%...

June 23, 2025 Global Market Overview Equities : The S&P 500  ticked higher, while tech-led strength lifted the Nasdaq . Volatility...

Date:  June 2, 2025 Fed Funds Futures & Policy Outlook Markets are increasingly pricing in multiple rate cuts across the upcoming FOMC...

Week of May 26, 2025 Global Macro Overview Markets continue to reassess the Federal Reserve’s rate trajectory in light of shifting...

May 19, 2025 IGA Capital Finance Brokers, Joshua Hawley, CEO Macroeconomic Overview Markets remain highly sensitive to the Federal...

Joshua Hawley, CEO, IGA Capital Macroeconomic Overview Markets are entering mid-May with renewed clarity on interest rate trajectories...

Week of May 5, 2025 Overview As global markets continue to reprice interest rate expectations and investors digest central bank signals,...

April 14, 2025 Market Overview Markets remain volatile as investors navigate evolving interest rate expectations, persistent inflationary...

February 25th, 2025 Joshua Hawley Market Overview Financial markets remain highly reactive to policy developments, with economic data...

Dec 15th, 2024 The Federal Reserve is set to convene its final meeting of 2024 on December 17-18, with strong expectations of a 25 basis...