The Federal Reserve reduced its balance sheet by $15.7 billion, $17.9 billion was treasuries.
This reduction leaves $36 billion to be reduced in July out of a planned total of $40 billion.
The correlation between the Fed balance sheet and the S&P 500 has broken down since May. If the correlation resumes, the S&P 500 Index is 5 percent overvalued.
Bytedance Said to Buy Beijing’s Zhongkun Plaza Mall for RMB 9B
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[image: Bytedance Zhang Yiming]
ByteDance, the private Chinese company behind the hugely popular video chat
app TikTok, is said to have acquired a failed B...
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