Well, This Sounds Familiar

UBS' annual outlook feels like it was ripped right from the pages of Republic Risk

Action to Take: With rate cut hopes and AI dominating headlines, we turn our attention to Tokyo this morning.

The Bank of Japan plans to keep rates near zero until 2025.

This preserves the yen carry trade that helps fuel global liquidity - particularly important with the Fed likely cutting rates next week. By holding off on hikes, the BOJ avoids the risk of simultaneous moves by both central banks. The other way could trigger a painful yen short squeeze reminiscent of late July, sending markets lower and spiking volatility to levels not seen since Covid. With the VIX at 13.38 in premarket, markets look primed to celebrate the dovish stance. Hold the Line.

Look for any early weakness in the Nasdaq 100 (QQQ) to be bought ahead of a likely Friday rally.

Republic Insiders: We've added a new position targeting 2025's most significant theme, replacing our quick 19% CUBI win. Click here for complete details, and watch your inbox for an additional trade.

----------------------------

Momentum: Sell…