Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Hello and welcome to D.C. today. It is Monday afternoon, August 28th. I can't see that, can I? August 28th. It's going to be with you all here today. I'm, uh, be hosting DC today the most of the week, at least Monday through Wednesday, uh, with David traveling. And I'm happy to do it. Today was the little longer formed version, which I always kind of enjoyed doing.

Gives me a little more time and chance to go through some topics.

Markets Friday were up and closed up on the day, basically at the highs.

There was Powell comments out of Jackson Hole Friday that moved markets.

Actually, they sold off initially,

basically said that further rate hikes are still on the table, depending on the data. And there's

enough data coming where we're not going to tell you exactly what we're doing because we don't know yet

until we get the data, which is basically in line with what markets were already expecting. And so

initial sell-off led to a rally.

And then over the weekend, obviously everything was closed.

And then Monday morning, early, futures were up.

Not a lot.

They were up a quarter of a percent or something like that, 75 points.

We actually built on that a little bit right into the open.

We were up about 150 points in futures.

And then, of course,

markets did open up and traded upwards of 160 right away and then moved up from there.

High was something like up 300 points, about an hour, hour and a half into the open. We held

on to the gains for most of the day. We ended up closing up

213 points on the Dow. Interest rates were a little bit lower on the day. The tenure was down two

basis points, closed to 421. 2's 10 spread is now about 86 basis points. Actually, the curve is

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