LOVELY

The Fed is in a lose-lose situation:

1. If the Fed cuts rates aggressively right now, markets tank further and they risk a resurgence of inflation.

Cutting US rates will only make the Yen carry trade unwinding WORSE, likely sending the Nasdaq into bear market territory.

2. If…

— The Kobeissi Letter (@KobeissiLetter) August 7, 2024