The summer doldrums are upon us as we head into August and its warm (ok, way too hot) weather. How you spend the season going forward might be in for a change, as blistering temperatures ruin the fun of a traditional beach holiday. Bloomberg columnist Niall Ferguson doesn’t hold back in this article on the future of your vacation. Even if you decide to stay indoors with the air conditioning and unwind with a potboiler, you still need to know a few things to prepare for the coming week. I’ll try to keep it short so you can get back to your book.

The Big Paranoia: Markets have been going gangbusters, with the S&P 500 poised to rise for a fifth straight month. FOMO-humbled investors have been going all in and few traders have bothered to hedge against historically high exposure. Still, there are reasons to be worried. The Fed is looking to engineer a soft landing after a period of inflation and intense rate increases, an effort that’s rarely successful. Plus: September and August tend to be the benchmark’s worst two months of the year.

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