Global cash is getting scarcer and US credit flows are supporting China’s fragile financial edifice: Why the world must prepare for the Fed’s QE4 October 15, 2015 Liquidity risks remain elevated. The CrossBorder Capital Global Liquidity Index (GLITM) for September 2015 is stuck at low levels of 39.0 and close to its sub-par August reading. Such poor liquidity underscores a ‘Risk Off’ investment environment characterised by high volatility and by the likelihood that economic activity levels will weaken noticeably over the next six-12 [...]