TMTB Morning Wrap

Good morning. QQQs +30bps on a very slow Monday morning in August. BTC +2%; China +50bps; yields flattish. Not much happened since the Friday close other than US presidential race continuing to shift toward Harris. Fed expects continue to price in 75-80% odds of a 50bp cut on 9/18 with 100bps worth of reductions discounted for the year.

Let’s get to it…