Nomura Says Fed Trims Balance Sheet in September

The video discusses the anticipated roll-off of the balance sheet, expected to start in September. It explores the gradual impact on treasury and mortgage-backed securities, and how this affects interest rates and the yield curve. The implications for the bond market and equities are analyzed, with concerns about asset reflation and current market valuations. The discussion highlights the risk and reward dynamics in equity markets, comparing them to past tapering events.

What concerns does the speaker express regarding the current state of equity markets?

How does the speaker relate the current situation to past tapering experiences?