Read Capital Flows with Scottie
Keep Capital Flows. Lose the inbox pileup.
Scottie reads the newsletters you choose, keeps the useful differences, and attaches every original link. Capital Flows stays in your reading life without becoming another email to manage.
An independent guide. Scottie isn't affiliated with, endorsed by, or sponsored by Capital Flows. The publication owns its name, writing, and subscription terms.
From Scottie · July 31, 2026
See Capital Flows in a Scottie brief
Scottie read Capital Flows, Capital Wars, and Cassandra Unchained for a reader with the priorities shown below. Start with the rundown, open the full brief, or check every issue behind it.
3sources
13issues read
6stories included
3 of 6 Capital Flows issues included
What shaped this brief
Reader priorities
A macro investor who wants educational frameworks for liquidity, market plumbing, and cross-asset moves before acting on a thesis.
These are illustrative priorities, not a customer’s data.
Sources in this brief
- Capital FlowsThe publication this guide is about
- Capital WarsAdds a focused view of global liquidity cycles and their market effects.
- Cassandra UnchainedAdds market-structure and valuation foundations for testing the macro view.
Scottie
Scottie example brief
July 31, 2026 · Executive brief
01 / The rundown
- Global liquidity growth is flatlining as dollar strength, weak collateral, and central bank pullbacks pressure cross-asset markets.
- Technology stocks lead a broader US equity drawdown while peaking global liquidity creates persistent headwinds for high-beta digital assets.
Read the complete brief 6 stories · 2 action items
02 / The briefing
01 / main
Tech Leads Stock Drawdowns as Liquidity Shifts Pressure Equities
The takeaway: The S&P 500 slipped nearly 4% from its peak while the NASDAQ fell 12% in a tech-led pullback. Macro liquidity shifts and cross-border flows are driving this downward pressure on equities.
Concrete details
- S&P 500 is down almost 4% from its all-time high as market risks build.
- NASDAQ dropped 12% from peak levels, nearing its previous drawdown for the year.
Why it matters for this reader: Tracking macro liquidity shifts helps you identify equity drawdowns before they hit your portfolio balance.
Original sourcesCapital FlowsCapital Flows
02 / main
Intelligence Brief Maps Structural Shifts Across Major Global Economies
The takeaway: Major global economies face underlying structural changes rather than simple weekly price fluctuations. Mapping these systemic shifts helps evaluate macro constraints before taking positions.
Concrete details
- Weekly intelligence brief synthesizes structural changes across major global economies rather than short-term price movements.
- Framework evaluates how systemic constraints play out across global financial markets over time.
Why it matters for this reader: This macro framework helps you map out underlying systemic constraints across global markets before forming a thesis.
Original sourcesCapital Flows
03 / main
Global Liquidity Momentum Flatlines Amid Strong Dollar and Volatility
The takeaway: Global liquidity growth stalled this week as dollar strength, weaker collateral values, and bond volatility weighed on financial markets. The Shadow Monetary Base continues to weaken despite recent PBoC injections.
Concrete details
- Shadow Monetary Base weakens further, confirming fading liquidity momentum despite recent PBoC central bank injections.
- Rising bond volatility and dollar strength drive flatlining global liquidity while risk exposure trends lower.
Why it matters for this reader: Monitoring collateral values and monetary base shifts helps you analyze market plumbing before executing cross-asset trades.
Original sourcesCapital Wars
04 / main
Peaking Liquidity Growth Signals Ongoing Headwinds for Crypto Assets
The takeaway: Global liquidity growth peaked in late 2025, creating ongoing price pressure across cryptocurrencies. Models show global liquidity leads crypto performance by 13 weeks with a high sensitivity factor.
Concrete details
- Global liquidity leads crypto performance by 13 weeks with an estimated beta loading of nearly eleven times.
- Holding 5% of a portfolio in crypto assets may serve as a hedge against future monetary inflation.
Why it matters for this reader: Understanding liquidity sensitivity allows you to treat digital assets as high-beta monetary indicators rather than simple technology trades.
Original sourcesCapital Wars
05 / main
Central Banks Curtail Liquidity Impulses in Late-Cycle Shift
The takeaway: Late investment cycle dynamics are accumulating as yield curves flatten and central banks limit liquidity. Benchmark 10-year Treasury yields threaten to break out on rising rate expectations while term premia stay flat.
Concrete details
- BES crypto basket declines as central bank liquidity curtailment interacts with a strong real economy.
- US 10-year Treasury yield approaches breakout pattern driven by rate expectations rather than term premia.
Why it matters for this reader: Tracking central bank policy shifts provides the cross-asset framework needed to evaluate late-cycle rate regimes.
Original sourcesCapital Wars
06 / main
Research Exposes Private Credit Risk Offloading via Life Insurers
The takeaway: Private equity firms acquire life insurers to load balance sheets with illiquid private credit. State guaranty funds cover insolvencies through premium tax credits, shifting private credit risk onto public state backstops.
Concrete details
- State guaranty fund outlays for insolvent insurers are fully creditable against state premium taxes over time.
- PE-owned insurers pair opaque private credit with state backstops to extract value and transfer potential losses.
Why it matters for this reader: Analyzing this regulatory state backstop reveals hidden structural risks in private credit plumbing before stress hits markets.
Original sourcesCassandra Unchained
Action items
- Track the 13-week leading relationship between global liquidity metrics and risk asset momentum to time market cycles.
- Evaluate private credit exposures in life insurer balance sheets to assess state backstop risk mechanisms.
See every issue behind this brief
Capital Flows — Will Warsh Crash The Stock Market?
- Will Warsh Crash The Stock Market?Capital Flows · Included
- Video Breakdown: Will Warsh Crash The Stock Market?Capital Flows · Included
Capital Wars — Global Liquidity Watch: Weekly Update
- Global Liquidity and CryptocurrenciesCapital Wars · Included
- Global Liquidity Watch: Weekly UpdateCapital Wars · Included
Capital Wars — The Future Costs of Current Suppression
- The Future Costs of Current SuppressionCapital Wars · Included
Capital Flows — Weekly Intelligence Brief: A System Running Out of Slack
- Weekly Intelligence Brief: A System Running Out of SlackCapital Flows · Included
Michael Howell Press Publish
- PRESS PUBLISH with Michael HowellCapital Wars · Read, not included
FOMC Risk and AI
- FOMC Risk and AI FlowsCapital Flows · Read, not included
Macro Positioning Crude Risk
- Macro Positioning and Crude RiskCapital Flows · Read, not included
S&P 500 Selling Pressure
- S&P500 Selling Pressure TodayCapital Flows · Read, not included
July Trading Post Positions
- Trading Post July 30, 2026Cassandra Unchained · Read, not included
Cassandra Unchained — Offshore Insurers, Meet the Hyperscalers
- Short Thoughts July 24, 2026 - Offshore Insurers, Meet the HyperscalersCassandra Unchained · Included
Portfolio Long Short Trades
- Trading Post July 24, 2026 - 4 Shorts, 3 LongsCassandra Unchained · Read, not included
About Capital Flows
Should you add Capital Flows to Scottie?
Understand how liquidity and macro regimes transmit into asset prices.[1][2][3]
Who it’s for
A macro investor who wants educational frameworks for liquidity, market plumbing, and cross-asset moves before acting on a thesis.[1][2]
What you’ll find in it
The issues linked below include “[FREE] Educational Primers On Every Aspect Of Macro & Markets”, “FOMC Risk and AI Flows”, and “Weekly Intelligence Brief: A System Running Out of Slack”. Open them to judge the publication in its own words.
How to read Capital Flows with Scottie
Add its public feed for publicly available issues. If you subscribe to paid issues, forward those emails to your private @scottie.fyi address. Scottie does not need access to your inbox.
Scottie read 6 Capital Flows items and included 3 for the brief. The sources covered different things, so Scottie kept their stories separate instead of forcing a connection.
Read three issues from Capital Flows
Read the publication in its own words. Scottie keeps these original links attached; it does not replace the writing.
- [FREE] Educational Primers On Every Aspect Of Macro & MarketsPublic issue[2]
- FOMC Risk and AI FlowsPublic issue[3]
- Weekly Intelligence Brief: A System Running Out of SlackSat, 25 Jul 2026[4]