Markets are facing a liquidity-driven risk-off phase. Equity volatility (VIX) and the US Dollar surged while silver and gold collapsed. Bitcoin plunged ~12%. Credit markets remain stable, however, suggesting no systemic crisis. Transports and defensive stocks show resilience amid global tech and small-cap selloffs.
FEB 5, 2026
The Gemini team discuss Bill Cara's Global Market Liquidity and Risk Asset Tactical Analysis Report, February 5, 2026
This is a combination of today's INSTAT A, B, and C reports (92 pages of details) for paid subscribers but presented to the public as an audio analysis due to the importance of today's market dynamics