Daily Edition
Morning Brief — October 12, 2026
Monday edition: three self-corrections (CPI on schedule Oct 14, vessel fees suspended since 2025, Fed in hiking cycle) and one accelerating risk — Hormuz attack tempo up, junk credit at 99th-percentile stress. Base 55%, Bull 15%, Bear 30%.
Monday opens with retracted 2025-vintage items, accelerating Hormuz attacks (20 vessels since Sep 29), ratified junk-credit stress, and Wednesday's CPI/Beige Book/Anthropic quadruple. Base 55%, Bull 15%, Bear 30%.