What in the world is the Fed up to? Did yesterday’s Mag 7 earnings support the market’s most crowded trade? Did the Trump-Xi meeting truncate the trade policy uncertainty era?

Darius Dale breaks down why the Fed’s pivot to Treasury bill reinvestments marks a subtle but historic erosion of central bank independence — and how it reinforces the risk-on Market Regime under Paradigm C. He also unpacks the market’s reaction to MAG 7 earnings, the Trump–Xi trade détente, and why liquidity conditions remain one of the strongest tailwinds for investors heading into year-end.