08/17/2022 - Yra Harris – Neutral

“he EQUITY markets have recovered more than 50% of their first-half losses stoking the call from WALL STREET that it is all clear WEENABUT I CAUTION: This is not an INVESTING MARKET BUT TRADING MARKET as we await to hear from Chair Jerome Powell on the FED‘s future path, especially as the central bank’s balance sheet reduction ramps up to its maximum levels next month. NOBODY can be certain of the impact of removing liquidity from what has been an over-leveraged market living on the liquidity drug provided by QE.”

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