Liquidity

Oh my, the Federal Tax Deposit posts year over year deposits running 5.8 billion for the day, 7/20, behind last year. The month to date trails 2.3 billion, while the year to date runs 38.6 billion ahead of last year. These amount to year over percentages of -502%, -2.5%, and +2.8% for the YTD. These numbers suggest a short term weakness in market demand. The YTD collections should reflect the GDP, just under 3%.  Offsetting this drop in liquidity Microsoft's huge buy-back and a slightly higher interest rate should: one, decrease equity supply and two, attract foreign capital, demand. Further liquidity may result from the surge in VC, venture capital, investment.