UBS recently made a prediction: at the beginning of 2026, the Federal Reserve might purchase $40 billion in short-term Treasuries each month.

If you think about this move, buying Treasuries is basically injecting money into the market, right? Even if it’s not explicitly called “quantitative easing” right now, the actual effect is pretty much the same—it’s just another form of easing. This lines up perfectly with rumors about Hassett possibly taking over the Fed, as well as Delphi’s prediction of a rate-cutting cycle in 2026.

Simply put, net liquidity might soon turn positive. The days of tight money in the market could be coming to an end, and by now, everyone should have a good idea of what to do next.