How Will the Fed’s Balance Sheet Reduction Impact Markets?

From youtube.com/bloombergquicktake

In May 2022, the Federal Reserve announced its quantitative tightening program, involving a roll-off of billions in Treasury bonds and mortgage-backed securities beginning on June 1. Long-end Treasury yields are already beginning to show a pronounced response to the tightening — what reaction can investors expect from stock and real-estate markets? Presented by @CME Group