Mick Jagger Has Some Sage Advice For Trump-Hater Springsteen

Houthis Unleash Large Missile, Drone Barrage On Saudi Arabia, Target Riyadh Airport & Aramco Facility Summary Saudi-backed forces launch major counteroffensive with roughly 100 Saudi fighter jets supporting attacks along the Red Sea coast. Mocha's status remains disputed: Government forces claim to have retaken the strategic port, while Houthis deny the loss. Houthis announce major missile & drone attack on Saudi territory, including against international airport in Riyadh. Houthi fighters reportedly seize homes of senior government figures, including Parliament Speaker Sultan al-Barakani's mansion. Bab el-Mandeb is increasingly at risk, raising concerns for Red Sea shipping...

Dowd: Lower Yields Are Coming... And Nobody Will Like Why Authored by Ed Dowd via 'Beyond the Narrative' substack, On August 19th the Treasury announced it would increase the size of its nominal long-end liquidity support buybacks beginning September 9. The long end yields declined on the headline. Cue the usual chorus of X hot takes: stealth QE, yield-curve control lite, money printing etc. The reality is much less bombastic...it is mostly a jawboning exercise. The Treasury Is Not the Fed...The Treasury Cannot Create Money Buybacks of this type are a recycling operation. You...

If This Was A Normal Week... Submitted by Peter Tchir of Academy Securities Maybe it was because I was in Europe that last week didn’t seem “normal.” Maybe that is why some of the things that I would think are most topical don’t seem topical (or at least weren’t what markets were responding to?). Or maybe it was just a weird week, where the underlying narrative wasn’t as much about the usual suspects, and was much more about supply (of bonds, energy, chips), stop losses (in every market everywhere), and dismal...