Global Markets · · 1 min read

"The Line Broke, and Nobody Cheered"

The ex-US world index took out the record close this letter has been marking since June — quietly, in a week the S&P moved four tenths of a percent.

Edition · August 15, 2026

The full edition of “The Line Broke, and Nobody Cheered” was published on Substack — please read it there:

A short summary:

The ex-US world index took out the record close this letter has been marking since June — quietly, in a week the S&P moved four tenths of a percent.


This stub is auto-published by the Substack watcher. The canonical edition lives on Substack at the link above.