Daily Note | August 23, 2024 | Muni CEFs! Terms Funds, Sell GDO, IGI, IHTA.

Markets are up as investors await the speech by Powell at Jackson Hole, WY where the groundwork for the first rate cut is expected to be laid out. Stocks were pressured Thursday after a large run the week prior.

In the speech, he said, "the time has come for the policy to adjust." That was the key line. The more important line in my mind was "my confiden…