Global liquidity Global Liquidity Monthly

Invesco Global Liquidity commentary on cash and short‑term markets

Explore insights from the Invesco Global Liquidity team on trends influencing cash and short‑duration markets. Each monthly commentary provides an overview of the market and rate environment, liquidity and funding conditions, and includes recent market data and trend charts highlighting key themes. 

October 2026

• The Federal Reserve (Fed) raised the federal funds target range by 25 basis points to 3.75%–4.00%, its first increase since 2023, and signaled that the tightening cycle may continue.
• US Treasury yields jumped across the curve led by the 3-year US Treasury note which hit 5%, while money market and US Treasury bill yields adjusted higher in lockstep with the Fed’s 25-basis point hike.¹
• Money market and short-term funding conditions remained very stable throughout September, with quarter-end passing without the typical signs of stress and strong market liquidity and ample cash availability.