“Apparently, the mega banks on Wall Street thought that the Fed was never going to take away the punch bowl. And now the Fed has indicated that it’s thinking about thinking about doing just that. By taking away the punch bowl we mean trimming back its $80 billion in monthly purchases of Treasury securities and $40 billion in agency Mortgage-Backed Securities. And, at some point, actually starting to hike interest rates again.”
Wall Street’s Mega Banks Are Bleeding Market Cap Like It’s March of 2020 (wallstreetonparade.com)