This morning i joined Juliette Saly on Ausbiz to discuss how investors should focus on central bank actions rather than rhetoric – given liquidity continues to be a key driver behind today’s market momentum. Over the past year, global liquidity has surged by around US$10 trillion, helping to fuel the dramatic rise in equities, defence stocks, and artificial intelligence (AI).

But this liquidity boost may not last. As the cycle slows into 2026–27 and refinancing demands increase, investors could face tighter conditions. That means now’s the time to consider de-risking strategies –shifting toward defensive sectors or diversifying beyond equities – before competition for capital intensifies and cracks appear in the so-called “everything bubble.”