- The Fed is still on course to cut rates in September — and trying not to seem overeager.
- Animal spirits return: lowest 10-year yield in six months, biggest gain for the Nasdaq 100 in 18 months.
- BUT: The Bank of Japan’s hawkish turn has sunk the carry trade.
- Critical question is whether it’s allowed to kill the corporate zombies.
- Almost unnoticed, the Middle East situation is its most dangerous in a year — an oil spike would be a game changer.
- AND: More zombies.
Bankwatch 