Republic Risk: RED

Something is off...

Dear Fellow Expat:

Something is off right now. I had a conversation with a friend in Switzerland this morning. We just read a letter from the U.S. Treasury that has relicensed Russian banks for energy payments. So, there’s that.

We did appear to have a bull trap, but this one has a lot more downside due to a lot of hedge positions getting yanked off the table. Bitcoin’s price action signals something deeper lurking in the tech sector. And energy is moving lower with Brent crude expiration today.

We’re red across the board again. I’d just wait until Powell speaks.

Stay positive,

Garrett Baldwin