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Top of Book Liquidity
  • Market liquidity is dire.
  • This chart from GS looks at top of book (this is the highest bid and lowest ask) depth.
  • It is very low and at levels, as the bank says, consistent with extreme volatility.

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Eric Messenger's avatar
I love the volatility. Inefficient markets & irrational actors are what opportunities are made of. The Warren Buffet lessons play out fabulously every time there’s panic, fear, and short sighted trades.
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