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	param	t-stat
$ω$	0.7778	3.33
$α$	0.2944	4.48
$β$	0.6044	5.77
$γ_{1}$	-0.8453	-0.66

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Phoenix Overseas Limited Spline ILLIQ Liquidity Analysis

Liquidity Prediction for Monday, February 23rd, 2026:488,986.50 (-217,128.10)

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