{
  "issue_date": "2026-11-06",
  "title": "FinzData Weekly: Liquidity, Capital Flows & Positioning, November 6, 2026",
  "as_of": {
    "liquidity_cutoff": "2026-11-04",
    "cot_cutoff": "2026-11-02"
  },
  "summary": [
    "Fed net liquidity stands at $5,791bn as of 2026-11-04, falling over the past four weeks (−74bn).",
    "The Treasury General Account is rising over four weeks (+77bn) to $957bn.",
    "M2 money supply is 6.7% versus a year ago at $23,508bn.",
    "Most crowded positioning: US 10-year Treasury (Asset managers, index 100) and US Treasury bond (Leveraged funds, index 100).",
    "Largest weekly swing in net % of open interest: Corn (Managed money) at −4.6pp."
  ],
  "notes": {
    "liquidity": "Fed net liquidity is $5,791bn as of 2026-11-04 with four-week change −74bn. Treasury General Account is $957bn with four-week change +77bn.",
    "flows": "Net foreign purchases of US long-term securities were $301bn in 2026-08-01 versus $41bn prior month. US-listed ETF net flow this week was +$19.27bn to 2026-11-04.",
    "positioning": "US 10-year Treasury Asset managers COT index is 100 and US Treasury bond Leveraged funds COT index is 100. Corn Managed money weekly swing is −4.6pp."
  },
  "liquidity": [
    {
      "series_id": "FED_NET_LIQUIDITY",
      "label": "Fed net liquidity (assets − TGA − reverse repo)",
      "unit": "$bn",
      "latest": 5790.745,
      "as_of": "2026-11-04",
      "change_1w": 45.01299999999992,
      "change_4w": -74.22400000000107,
      "change_13w": -48.848000000000866,
      "change_1y": 181.20499999999902
    },
    {
      "series_id": "FED_TOTAL_ASSETS",
      "label": "Fed balance sheet",
      "unit": "$bn",
      "latest": 6748.145,
      "as_of": "2026-11-04",
      "change_1w": 2.5100000000002183,
      "change_4w": 0.5850000000000364,
      "change_13w": -0.4219999999995707,
      "change_1y": 161.11099999999988
    },
    {
      "series_id": "TREASURY_GENERAL_ACCOUNT",
      "label": "Treasury General Account",
      "unit": "$bn",
      "latest": 957.1750000000001,
      "as_of": "2026-11-04",
      "change_1w": -42.55199999999991,
      "change_4w": 76.92200000000003,
      "change_13w": 49.851,
      "change_1y": -0.8149999999999409
    },
    {
      "series_id": "ON_REVERSE_REPO",
      "label": "Overnight reverse repo",
      "unit": "$bn",
      "latest": 0.225,
      "as_of": "2026-11-04",
      "change_1w": 0.049000000000000016,
      "change_4w": -2.113,
      "change_13w": -1.4249999999999998,
      "change_1y": -16.758
    },
    {
      "series_id": "BANK_RESERVES",
      "label": "Bank reserves",
      "unit": "$bn",
      "latest": 2930.088,
      "as_of": "2026-11-04",
      "change_1w": 36.31800000000021,
      "change_4w": -99.57099999999991,
      "change_13w": -63.26099999999997,
      "change_1y": 82.06700000000001
    },
    {
      "series_id": "US_M2_WEEKLY",
      "label": "M2 money supply (weekly)",
      "unit": "$bn",
      "latest": 23508.0,
      "as_of": "2026-10-05",
      "change_1w": 214.0,
      "change_4w": 167.90000000000146,
      "change_13w": 297.7000000000007,
      "change_1y": 1470.7000000000007,
      "yoy_pct": 6.673685070312609
    },
    {
      "series_id": "US_MMF_TOTAL_ASSETS",
      "label": "Money market fund assets",
      "unit": "$bn",
      "latest": 8441.374,
      "as_of": "2026-04-01",
      "change_1w": 151.8050000000003,
      "change_4w": 151.8050000000003,
      "change_13w": 251.1389999999992,
      "change_1y": 960.1419999999998
    },
    {
      "series_id": "G3_CB_ASSETS_USD",
      "label": "G3 central bank assets (USD)",
      "unit": "$bn",
      "latest": 17367.153782470537,
      "as_of": "2026-10-01",
      "change_1w": -156.56570547112642,
      "change_4w": -156.56570547112642,
      "change_13w": -126.78488432038284,
      "change_1y": -1004.2557545675882
    },
    {
      "series_id": "FIN_CONDITIONS_NFCI",
      "label": "Chicago Fed financial conditions (NFCI)",
      "unit": "index",
      "latest": -0.459,
      "as_of": "2026-10-30",
      "change_1w": 0.008000000000000007,
      "change_4w": 0.03899999999999998,
      "change_13w": 0.07900000000000001,
      "change_1y": 0.05499999999999999
    },
    {
      "series_id": "FIN_STRESS_STLFSI",
      "label": "St. Louis Fed financial stress",
      "unit": "index",
      "latest": -0.5224,
      "as_of": "2026-10-30",
      "change_1w": 0.06180000000000008,
      "change_4w": -0.06119999999999998,
      "change_13w": -0.01969999999999994,
      "change_1y": -0.021199999999999997
    }
  ],
  "flows": [
    {
      "series_id": "TIC_NET_FOREIGN_PURCHASES",
      "label": "Net foreign purchases of US long-term securities",
      "unit": "$bn",
      "latest_month": "2026-08-01",
      "value": 300.724,
      "prior_value": 40.616,
      "trailing_12m": 1875.8509999999999,
      "is_holdings": false
    },
    {
      "series_id": "TIC_NET_FOREIGN_PURCHASES_TREASURIES",
      "label": "Net foreign purchases of US Treasuries",
      "unit": "$bn",
      "latest_month": "2026-08-01",
      "value": 108.908,
      "prior_value": -3.56,
      "trailing_12m": 306.428,
      "is_holdings": false
    },
    {
      "series_id": "TIC_OFFICIAL_NET_PURCHASES_TREASURIES",
      "label": "Foreign official net purchases of Treasuries",
      "unit": "$bn",
      "latest_month": "2026-08-01",
      "value": 18.053,
      "prior_value": 25.537,
      "trailing_12m": 9.918999999999993,
      "is_holdings": false
    },
    {
      "series_id": "TIC_FOREIGN_HOLDINGS",
      "label": "Foreign holdings of US Treasuries",
      "unit": "$bn",
      "latest_month": "2026-08-01",
      "value": 39916.341,
      "prior_value": 38826.409,
      "trailing_12m": 5289.743999999999,
      "is_holdings": true
    }
  ],
  "etf_flows": {
    "status": "ok",
    "since": "2006-05-31",
    "days": 5,
    "total_usd_m": 19269.3,
    "by_class": [
      [
        "US equity",
        13736.4
      ],
      [
        "Treasuries",
        2898.0
      ],
      [
        "Sector",
        2428.4
      ],
      [
        "Credit",
        1009.2
      ],
      [
        "Gold & metals",
        238.0
      ],
      [
        "International equity",
        0.0
      ],
      [
        "Crypto",
        -1040.6
      ]
    ],
    "top_in": [
      [
        "SPY",
        "SPY",
        9414.6
      ],
      [
        "IVV",
        "IVV",
        4128.5
      ],
      [
        "LQD",
        "LQD",
        1478.7
      ],
      [
        "IEF",
        "IEF",
        1428.6
      ],
      [
        "TLT",
        "TLT",
        1291.2
      ]
    ],
    "top_out": [
      [
        "AGG",
        "AGG",
        -732.4
      ],
      [
        "IBIT",
        "IBIT",
        -617.7
      ],
      [
        "DIA",
        "DIA",
        -606.9
      ],
      [
        "ETHA",
        "ETHA",
        -422.9
      ],
      [
        "BIL",
        "BIL",
        -139.5
      ]
    ],
    "funds": [
      "AGG",
      "BIL",
      "DIA",
      "EEM",
      "EFA",
      "ETHA",
      "HYG",
      "IAU",
      "IBIT",
      "IEF",
      "IVV",
      "IWM",
      "LQD",
      "SGOV",
      "SHY",
      "SLV",
      "SPY",
      "TLT",
      "XLE",
      "XLF",
      "XLK",
      "XLV"
    ],
    "universe": 30,
    "last_date": "2026-11-04"
  },
  "crypto_flows": {
    "btc": {
      "week_usd_m": -1065.6,
      "w4_usd_m": -792.2,
      "last_date": "2026-11-04",
      "days": 5,
      "top_in": [
        [
          "FBTC",
          59.7
        ],
        [
          "BITB",
          20.2
        ],
        [
          "MSBT",
          7.5
        ]
      ],
      "top_out": [
        [
          "IBIT",
          -922.4
        ],
        [
          "ARKB",
          -109.6
        ],
        [
          "BTC",
          -67.9
        ]
      ]
    },
    "eth": {
      "week_usd_m": -433.2,
      "w4_usd_m": -1272.8,
      "last_date": "2026-11-04",
      "days": 5,
      "top_in": [
        [
          "FETH",
          18.8
        ],
        [
          "MSSE",
          2.5
        ],
        [
          "TETH",
          0.1
        ]
      ],
      "top_out": [
        [
          "ETHA",
          -328.2
        ],
        [
          "ETHB",
          -62.1
        ],
        [
          "ETH",
          -37.0
        ]
      ]
    },
    "stablecoins": {
      "as_of": "2026-11-04",
      "supply_usd_bn": 295.13,
      "chg_7d_usd_bn": -6.47,
      "chg_28d_usd_bn": -12.78
    }
  },
  "positioning": [
    {
      "report": "tff_fo",
      "code": "13874+",
      "market": "S&P 500",
      "group": "Asset managers",
      "group_key": "asset_mgr",
      "net": 926147.0,
      "net_pct_oi": 46.80843428906444,
      "ww_net": 22128.0,
      "ww_pp": 0.5663199639779535,
      "cot_index": 58.64216166388201,
      "percentile": 94.15204678362574,
      "flag": "",
      "as_of": "2026-10-27"
    },
    {
      "report": "tff_fo",
      "code": "13874+",
      "market": "S&P 500",
      "group": "Leveraged funds",
      "group_key": "lev_money",
      "net": -399879.0,
      "net_pct_oi": -20.210301275150485,
      "ww_net": -27010.0,
      "ww_pp": -1.137415720443478,
      "cot_index": 36.580135107230305,
      "percentile": 5.497076023391813,
      "flag": "",
      "as_of": "2026-10-27"
    },
    {
      "report": "tff_fo",
      "code": "20974+",
      "market": "Nasdaq-100",
      "group": "Asset managers",
      "group_key": "asset_mgr",
      "net": 66372.0,
      "net_pct_oi": 23.563828465326324,
      "ww_net": -12395.0,
      "ww_pp": -3.9884483481841464,
      "cot_index": 49.210204728210854,
      "percentile": 62.22222222222222,
      "flag": "",
      "as_of": "2026-10-27"
    },
    {
      "report": "tff_fo",
      "code": "20974+",
      "market": "Nasdaq-100",
      "group": "Leveraged funds",
      "group_key": "lev_money",
      "net": -5619.0,
      "net_pct_oi": -1.9948947168484994,
      "ww_net": 2069.0,
      "ww_pp": 0.6943267101738384,
      "cot_index": 81.71178453494771,
      "percentile": 50.409356725146196,
      "flag": "",
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    },
    {
      "report": "tff_fo",
      "code": "239742",
      "market": "Russell 2000",
      "group": "Asset managers",
      "group_key": "asset_mgr",
      "net": 19602.0,
      "net_pct_oi": 4.270969738037603,
      "ww_net": -11358.0,
      "ww_pp": -2.3615773014170545,
      "cot_index": 18.663320290781357,
      "percentile": 32.84823284823285,
      "flag": "",
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    },
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      "report": "tff_fo",
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      "group": "Leveraged funds",
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      "ww_net": 4954.0,
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      "cot_index": 50.99378836111706,
      "percentile": 38.66943866943867,
      "flag": "",
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    },
    {
      "report": "tff_fo",
      "code": "1170E1",
      "market": "VIX",
      "group": "Asset managers",
      "group_key": "asset_mgr",
      "net": -44424.0,
      "net_pct_oi": -11.740826488217945,
      "ww_net": 13035.0,
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    },
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      "report": "tff_fo",
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      "group": "Leveraged funds",
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      "ww_net": -5444.0,
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      "cot_index": 68.49791916180564,
      "percentile": 78.7015945330296,
      "flag": "",
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    },
    {
      "report": "tff_fo",
      "code": "042601",
      "market": "US 2-year Treasury",
      "group": "Asset managers",
      "group_key": "asset_mgr",
      "net": 1837491.0,
      "net_pct_oi": 40.61249916288112,
      "ww_net": 113911.0,
      "ww_pp": 2.5943452616849143,
      "cot_index": 48.119150089803114,
      "percentile": 85.6492027334852,
      "flag": "",
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    },
    {
      "report": "tff_fo",
      "code": "042601",
      "market": "US 2-year Treasury",
      "group": "Leveraged funds",
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      "net_pct_oi": -30.00715888593678,
      "ww_net": -72110.0,
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      "cot_index": 87.44242144716334,
      "percentile": 26.082004555808656,
      "flag": "",
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    },
    {
      "report": "tff_fo",
      "code": "043602",
      "market": "US 10-year Treasury",
      "group": "Asset managers",
      "group_key": "asset_mgr",
      "net": 3000164.0,
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      "ww_net": 74748.0,
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      "cot_index": 100.0,
      "percentile": 100.0,
      "flag": "Crowded long",
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    },
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      "report": "tff_fo",
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      "flag": "",
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    },
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      "report": "tff_fo",
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    },
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    },
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    },
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    },
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      "report": "tff_fo",
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    },
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    },
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      "report": "tff_fo",
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    },
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      "report": "tff_fo",
      "code": "096742",
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    },
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      "report": "tff_fo",
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      "market": "British pound",
      "group": "Leveraged funds",
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      "flag": "",
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    },
    {
      "report": "tff_fo",
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      "market": "Bitcoin (CME)",
      "group": "Asset managers",
      "group_key": "asset_mgr",
      "net": 2754.0,
      "net_pct_oi": 13.246116107931316,
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    },
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