All models are wrong, but some are useful and we need to respect them.

The criticism from those who hate S2F of focusing on supply is wrong because the correlation regime with central bank liquidity is very high (R2 > 95 %) and does not fail to signal demand for the latter asset.

https://image.nostr.build/13aa79007f07428637380075934807431fca2ca7d471aac92bc4b19fe3d6dd3d.jpg