Breadth is still week on this market rally. $SPY is outpacing $RSP and $IWM is outpacing $IJR. Declines + New Lows > New Highs.

That's about where he bottomed out in his first term (excl. his very bitter end)

We'll find out soon whether how committed his base really is

RW media spin-cycle is still in effect.

NYP has the Epstein story front and center but is spinning it as a Clinton scandal.

Fox and WSJ have it buried on their home page, Fox is basically turned into a Michael Wolff story, WSJ is spun less but still leads with a GOP vs. D "cherry-picking" framing

Interesting poll from YouGov: more impacted by shutdown = more blame tilted GOP

I can see this creating havoc in the GOP between "materially affected by Trump's policies" vs. "politics is just a game", esp. since power holders are more likely to be the latter

today.yougov.com/politics/art...

Some interesting price action today, SPX dumping at the close even with a significant positive MOC. No insights here, just an interesting observation vs. what I'm used to seeing.

Looks like there was a big spike in SRF usage last night. My understanding is that's not uncommon for end-of-month/end-of-quarter, but maybe it is spooking some people about banks' liquidity in the not-so-short term? esp. with the private credit risks on everyone's minds