Our eyes are on the "new Fed" Chair announcement Friday. We continue to see shallow pullbacks and a new high for S&P 500 in August.

Please note: no video due to travel.

I spent the last two days doing zooms and one-on-ones with our institutional investor clients in NYC, and I have a snapshot of sentiment as it stands.

We do not see any signs of investor exuberance. In fact, the opposite, there is a sober view about markets at the moment. Investors seem cautious about valuations, and the fact that stocks are extended and also given upcoming uncertainties. Many point to what they view as mixed results for earnings...

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