The US Treasury's Liquidity Profile Looks Bad for the Next Three, Four Months

The regional banking stress now leads to shrinking liquidity due to the FDIC paying back parts of the emergency lending. And on top of that, we still have the quantitative tightening of $95 billion a month running from the federal reserve. Therefore, the liquidity profile here in the dotted light blue line looks, if not outright app as small, then at these very, very bad for the next say three, four months.