Concerns over a slowing economy and labor market at the beginning of the quarter firmed investors’ beliefs that interest rate cuts were on the way.

The Federal Reserve unfurled the white flag during the July FOMC meeting and set the stage to surrender to inflation. 

Stocks are paring this morning's gains that followed Meta Platforms' upbeat quarterly results.

The Bank of England is staying tight-lipped on when it expects to cut rates again. But we think better news on services inflation and wage growth can unlock one, or more likely two rate cuts by year-end.

The ISM manufacturing report was a disaster from every angle, especially employment , production, and backlogs. Employment reading worst since June 2020.

With ether ETFs expected to draw only 25% to 30% of the demand for bitcoin funds, that dampener is an annoyance for fund managers and the fees they reap from their products’ adoption.