Postcards: They Think We're Dumb (And Republic Risk)

The Federal Reserve party in Jackson Hole this week is another example of sounding as smart as possible while still flailing into the wind on policy decisions.

Republic Risk Readers Go Here for Today’s Morning Piece

Market Update and Momentum: In one of the clearest examples of how liquidity moves markets, today, we'll try to extend the relief rally to 9 days. After witnessing record amounts of leverage unwind in early August due to the unexpected BOJ hiking rates, US markets continue to attract capital with high interest rates and highly liquid assets. Subscribers can get my daily assessment of markets, momentum, and our portfolio right here.