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The liquidity in the market is deteriorating.

I think it's likely that the liquidity in the stock market is deteriorating day by day.
As for the yuan, it is necessary to issue a large number of long-term bonds in the future, as there is currently no issuance of long-term bonds in the plan for the issuance of US government bonds.
In addition, issuing long-term bonds will worsen liquidity in the market.
Furthermore, there is also a government bond auction scheduled for early September.
The stock market can be expected to experience further deterioration in liquidity.
The fact that bitcoin, which is the most sensitive to liquidity, is declining is also good evidence.
The reason why NVDA is falling even though it has good financial results can also be explained in terms of liquidity.
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