Summary

• Turkey still getting hammered across the board, and now in a pissing match with the U.S. over the detention of Pastor Andrew Brunson
• The Italian Treasury was in supporting its bond market after a sharp sell-off over budget fears
• The dollar is showing strength with the Dixie closing above 95. Having a tough time cracking 95.5 but we expect a breakout coming soon
• Chinese stocks took a hammering with Shanghai now down over 17 percent YTD.  Prevailing meme China losing trade war.  Laughable
• FAANG bounced on Apple’s market cap  surpassing 10¹² dollars
• The VIX closing in on a ten handle during the Dog Days of Augie
• Timber again for Lumber

Commentary:  None.  Keeping it tight, don’t like it, and going to the beach.  Political risk is rising and not priced.  Rome is burning, again, with one of the fires caused by a flat tire.