Monday Note + GMM News

I’m kicking off the week with the sense that the real risk isn’t a growth scare at all—it’s the opposite. Global demand keeps chugging along, oil refuses to back off, and core inflation looks far too sticky for policymakers’ comfort. If we stay on this track much longer, the Fed’s “cuts in September” narrative will feel like yesterday’s newspaper.

Now if anyone is suggesting the Strait of Hormuz is the end game they are dreaming… if they, it will be short lived…. and China will give old mate Supreme Leader a ring as they are the key recipient of energy via the strait….. Just maybe the US want that? Worth adding the Saudis have pipes around this choke point called “East-West Pipeline”.

Some house keeping…

I’m excited to let you know that I’m bringing a new team-member on board to streamline the back-end of the business. Their first mission is to stand up a dedicated Discord server, so I can share multi-asset research, charts, and intraday thoughts in near real-time rather than waiting for the next post to drop.

Note - There will be no reduction of frequency (>5 post a week) and only an increase in substack quality. This will simply be an additional offering going forward.

The goal is to keep the Substack for polished analysis and use Discord as the trading desk’s “market analysis squawk box,” giving you faster insight and more interaction. More details to come…. (expected launch is early next month)