Macro Strategy Insights

ProSec™ 2026, Vertically Integrated Nations, and Rate Cuts

Let’s start with the important stuff – Hope you are having a great 4th of July 250th Anniversary Weekend! On “Jobs Thursday” we did not publish our usual “instant” analysis, partly because we were already on Bloomberg TV that morning (Academy is the first two segments) and then Bloomberg Radio. Also, partly because we had an important client outing on the golf course and were trying to beat the heat (at least a little). Yields gained back some ground after the relatively weak jobs report (headline plus revisions was negative, the private sector underwhelmed, and unemployment only dropped because the ... ProSec™ 2026, Vertically Integrated Nations, and Rate Cuts

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