The New CS Board

[JefftDecker]

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The Fed’s QT program will hit $40 billion this month. As of July 11th (the most recent data
available) the Fed’s balance sheet was UP $1.43 billion this month… which means the Fed will
be draining ALL of its intended $40 billion in QT over the next 10 trading day.

Put another way, the Fed will be pulling the MOST liquidity to date over a VERY short period of
time. This will result in stocks falling hard into month end.