US Stocks Will Be in Trouble in August: 3-Minute MLIV

I want to ask you why we have U.S. futures up when we haven't had an intervention from Jay Powell walking back his hawkishness on the labor market after that surprise on the payrolls data. Were you surprised by this. No.I think the context for today's price action needs to be seen in context of what we saw Friday. So the moves in Friday were really extraordinary across assets. Two yields erased the entire July move.We saw a climb of 24 basis points, a two year yields in July. And yet we erased all that and ...