For this purpose, I define global liquidity as the sum of monetary aggregates of the major advanced economies. Global excess liquidity may be understood as monetary liquidity that is not needed by economic agents to finance real economic transactions. In theory, excess liquidity may be measured by comparing long-run developments in money supply and GDP.
A straight read of the difference between the forward nominal Treasury curve and the forward Treasury Inflation-Protected Securities curve implies inflation compensation is expected  Details on the CFO Survey, which is a partnership of Duke University, the Federal Reserve Bank of Richmond, and the Federal Reserve Bank of Atlanta, can be found on the Richmond Fed’s website at https://www.richmondfed.org/research/national_economy/cfo_survey.