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   Daily 2026-06-03
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                      <div style="font-family:Trispace,monospace;font-size:12px;line-height:1.5;text-align:left;color:#7F879C;">
                       All metrics are as of the latest market close.
                      </div>
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                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
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                     <td align="left" class="s8">
                      <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
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                         <td class="s24">
                          S&amp;P 500
                         </td>
                         <td class="s25">
                          0.70% ▼
                         </td>
                         <td class="s26">
                          7,557
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          GOLD
                         </td>
                         <td class="s25">
                          1.20% ▼
                         </td>
                         <td class="s26">
                          $4,466
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          BITCOIN*
                         </td>
                         <td class="s25">
                          3.70% ▼
                         </td>
                         <td class="s26">
                          $65,451
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *24-hour change
                         </td>
                        </tr>
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                 <td class="s22">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
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                      <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
                       <tbody>
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                         <td class="s24">
                          FTSE 100
                         </td>
                         <td class="s25">
                          0.31% ▼
                         </td>
                         <td class="s26">
                          10,341
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          BRENT OIL
                         </td>
                         <td style="font-size:12px;color:#16B166;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          2.03% ▲
                         </td>
                         <td class="s26">
                          $97.95
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          US BONDS*
                         </td>
                         <td class="s25">
                          0.05% ▲
                         </td>
                         <td class="s26">
                          4.50%
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *10-year government yield
                         </td>
                        </tr>
                       </tbody>
                      </table>
                     </td>
                    </tr>
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                 </td>
                </tr>
               </tbody>
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                      </p>
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</td></tr></table>
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                 <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:700;line-height:1.5;text-align:left;color:#181c25;">
                  WALL STREET FEAR GAUGE INDEX 
(
                  <a style="font-weight:400;font-family:Trispace,monospace">
                   VIX
                  </a>
                  )
                 </div>
                </td>
               </tr>
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                    <td style="width:536px;">
                     <img alt="Wall Street Fear Gauge Index" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fimages.bannerbear.com%252Fdirect%252F7Q4rjJzQn7vZo8qPOx%252Frequests%252F000%252F147%252F794%252F749%252FaMBJ5DWdLYPgmDGOQXRNjrp4Z%252F628400b6e67c832a0eabcf771cc18a5aec2da745.png%253Fauto%253Dformat%2526fit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253D9873e304a021a59697cebffefc1f2c85/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODA1MjQxMzQuMTg0NzE2fQ:1wUtfC:Uh4hUShADWNjAnY8I501b9OzpJ5P7ZAvrmyduBrJU9c" width="536"/>
                    </td>
                   </tr>
                  </tbody>
                 </table>
                </td>
               </tr>
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            </td>
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        <!--[if mso | IE]>
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             <!--[if mso | IE]>
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                   <tbody>
                    <tr>
                     <td align="left" class="s31">
                      <div class="s32">
                       <p data-block-key="10zqs">
                        🪙 Bitcoin’s biggest fan just sold some tokens, and that’s got investors spooked
                       </p>
                       <p data-block-key="f64on">
                        🖐️
                        <b>
                         FOR PRO MEMBERS:
                        </b>
                        The five big forces that’ll determine what investors do next
                       </p>
                       <p data-block-key="5sfc8">
                        <b>
                         ⚔️
                        </b>
                        The US is back with another round of tariffs
                       </p>
                       <p data-block-key="a2k2l">
                        <b>
                         👇 Keep
reading to find out more
                        </b>
                       </p>
                      </div>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]>
</td></tr></table>
<![endif]-->
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
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</td></tr></table>
<![endif]-->
       </td>
      </tr>
     </tbody>
    </table>
   </div>
   <!--[if mso | IE]>
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             <!--[if mso | IE]>
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                   <mj-raw>
                    <span class="s20">
                     👀
                    </span>
                    <span class="s21">
                     Today's headlines
                    </span>
                   </mj-raw>
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                  <div class="s34">
                   <mj-raw>
                    <span class="s35">
                     Winter Is Here
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
                <tr>
                 <td align="center" class="s5">
                  <table border="0" cellpadding="0" cellspacing="0" class="s9" role="presentation">
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                      <a target="_blank">
                       <img alt="Winter Is Here" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-030626-BitcoinWinter.original.jpg%253Fauto%253Dformat%2526fit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253Dcc42658792c3c05beeffb0dc8e48f8e8/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODA1MjQxMzQuMTg0ODkyfQ:1wUtfC:Y8UJ89SJd9JgJpFxWm4pj95KT7DN-6AKFj_bxdVHe4Y" width="568"/>
                      </a>
                     </td>
                    </tr>
                   </tbody>
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                 </td>
                </tr>
                <tr>
                 <td align="left" class="s5">
                  <div class="s32">
                   <p data-block-key="nu306">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="3mt2m">
                    Bitcoin is freezing – and its biggest champion’s decision to sell some tokens isn’t exactly warming things up.
                   </p>
                   <p data-block-key="d45aa">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="5j8mp">
                    Last February, crypto enthusiast Michael Saylor told investors to “sell a kidney” before selling bitcoin (yes,
                    <a>
                     really
                    </a>
                    ). And as of right now, Saylor still has his kidneys. So some investors took it as a bad sign that
                    <a>
                     <b>
                      Strategy
                     </b>
                    </a>
                    – the bitcoin-hoarding company he founded – announced its first crypto sale since 2022 this week.
                   </p>
                   <p data-block-key="7v054">
                    ▶ Strategy’s the biggest institutional holder of bitcoin, sitting on about 4% of
                    <i>
                     all
                    </i>
                    supply. And even though it only sold 32
tokens – worth about $2.5 million – out of its hoard of 843,706, that was enough to have some bitcoin believers questioning their loyalty.
                   </p>
                   <p data-block-key="7affb">
                    🔻 Bitcoin had already been suffering this year. And on Wednesday, it slid below $67,000 – barely half of last year’s high.
                   </p>
                   <p data-block-key="bauqg">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="eolff">
                    <b>
                     <i>
                      Zooming in:
                     </i>
                    </b>
                    <i>
                     Bitcoin yard sale.
                    </i>
                   </p>
                   <p data-block-key="a8ru">
                    To be fair, Strategy’s hand was forced. See,
in raising the cash to pay for some of its stash, the firm had sold “preferred shares” – which pay an extra-high dividend to their holders. Strategy had planned to cover those payouts by selling new stock, but its market value has since dropped alongside bitcoin’s. So the firm had to generate the cash by selling its only asset instead.
                   </p>
                   <p data-block-key="c31aq">
                    <b>
                     <i>
                      For you personally:
                     </i>
                    </b>
                    <i>
                     Check your bitcoin allocation.
                    </i>
                   </p>
                   <p data-block-key="822aj">
                    This sale is supposed to be a
short-term fix, but there’s a real risk that Strategy will need to offload more tokens to keep paying those dividends. That’d push bitcoin down further – potentially kicking off a downward spiral for Strategy, its copycats, and bitcoin’s price.
                   </p>
                   <p data-block-key="ec3aj">
                    ⚠️ In fact, prediction market
                    <b>
                     Polymarket
                    </b>
                    now has the odds of bitcoin
                    <a>
                     falling
                    </a>
                    below $50,000 this year at 51%, up from 38% just last week. So this could be a good time to review your own crypto holdings, and maybe get that winter coat ready…
                   </p>
                  </div>
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                    Well, it’s that time of year: the weather’s nice, and the big investment houses are all trotting out their
                    <a>
                     midyear outlooks
                    </a>
                    .
                   </p>
                   <p data-block-key="evu24">
                    I tend to dismiss a lot of these forecasts
and updates. But the new one from Fidelity
                    <a>
                     caught my eye
                    </a>
                    .
                   </p>
                   <p data-block-key="336rm">
                    Instead of a bunch of predictions, it laid out five
“
                    <a>
                     forces
                    </a>
                    ” it thinks will shape the rest of the year.
                   </p>
                   <p data-block-key="cg2bp">
                    So let’s talk about each of those five forces, starting with the most interesting ones. But
                    <a>
                     let’s not be neutral
                    </a>
                    about it: I’ll scrutinize the investing moves Fidelity suggests and add a one-line verdict of my own.
                   </p>
                   <p data-block-key="a46vm">
                    That’s today’s Insight:
                    <a>
                     the five big forces that’ll determine what investors do next
                    </a>
                    .
                   </p>
                   <p data-block-key="bcl7l">
                    <a>
                     <b>
                      Read or listen to the Insight here
                     </b>
                    </a>
                   </p>
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                     <b>
                      Or sign up for a free one-week trial of Finimize Pro
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                  <div class="s34">
                   <mj-raw>
                    <span class="s35">
                     Tariffs Strike Back
                    </span>
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                 <td align="center" class="s5">
                  <table border="0" cellpadding="0" cellspacing="0" class="s9" role="presentation">
                   <tbody>
                    <tr>
                     <td class="s10">
                      <a target="_blank">
                       <img alt="Tariffs Strike Back" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-030626-Tariffs.original.jpg%253Fauto%253Dformat%2526fit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253Dd9f64cb5ce007caab8c29592122b59e9/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODA1MjQxMzQuMTg1OTc5MX0:1wUtfC:mKGLUyVCtYAA_wTf-RTPdoKx4uVi0hozG7CuCaMHnHc" width="568"/>
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                 <td align="left" class="s5">
                  <div class="s32">
                   <p data-block-key="sygzk">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="2ghoh">
                    The US is proposing a whole new raft of tariffs on dozens of its trading partners, essentially aiming to reinstate some of the levies that were deemed unconstitutional earlier this year.
                   </p>
                   <p data-block-key="3h97c">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="ckagv">
                    The new tariffs are based on forced labor concerns: US regulators investigated
                    <i>
                     60
                    </i>
                    trade partners and concluded that none of them are doing enough to counteract the issue in their supply chains. And that’s allegedly
                    <a>
                     creating
                    </a>
                    an “unlevel playing field” for American workers.
                   </p>
                   <p data-block-key="bequ4">
                    ▶ Partners like Mexico, Canada, the EU, and the UK are facing a 10% levy.
Meanwhile, China, Japan, South Korea, Brazil, and Australia are looking at 12.5%.
                   </p>
                   <p data-block-key="347hp">
                    ⚠️ There could be even more tariffs ahead, too: the US says it’s
                    <a>
                     conducting
                    </a>
                    further investigations into unfair competition claims…
                   </p>
                   <p data-block-key="kqmt">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="dnu54">
                    <b>
                     <i>
                      Zooming out:
                     </i>
                    </b>
                    <i>
                     Call it an opening salvo.
                    </i>
                   </p>
                   <p data-block-key="69pvt">
                    Unsurprisingly,
America’s trading partners aren’t happy. China even
                    <a>
                     blasted
                    </a>
                    the claims as a “pretext for political manipulation”. But the tariffs aren’t a done deal yet: they’re subject to public review before being put in place, set to start in July. And it wouldn’t be the first time that the threat of levies has been used as a bargaining chip…
                   </p>
                   <p data-block-key="c3dmk">
                    <b>
                     <i>
                      The bigger picture:
                     </i>
                    </b>
                    <i>
                     Great
timing.
                    </i>
                   </p>
                   <p data-block-key="3ah83">
                    Tariff threats certainly won’t help overall confidence or bring down inflation expectations, especially while war in the Middle East continues. The OECD said Wednesday that if the crisis – and the higher energy prices, supply snarls, and geopolitical chaos that come with it – drags on for another year, global economic growth could tank and interest rates could surge.
                   </p>
                  </div>
                 </td>
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                 <td align="left" class="s5">
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                        Big Stocks Are Moving More Than The Market Suggests
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                      <div class="s32">
                       <p data-block-key="aaghi">
                        <b>
                         1. Not all those who wander…
                        </b>
                        A new tool helps you discover the
                        <a>
                         small web
                        </a>
                        .
                       </p>
                       <p data-block-key="6qdec">
                        <b>
                         2. Frozen face.
                        </b>
                        What will happen to acting when
                        <a>
                         no one’s eyebrows move
                        </a>
                        ?
                       </p>
                       <p data-block-key="b0dgu">
                        <b>
                         3. Happy hour at the home for short but dapper retirees.
                        </b>
                        Turns out, aquarium penguins can live for
                        <a>
                         a long time
                        </a>
                        .
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             <div class="s32">
              Stay classy, Sarah 😉 This issue of the Daily Brief was curated by
              <a style="color:inherit;font-weight:inherit">
               Russell
              </a>
              and
              <a style="color:inherit;font-weight:inherit">
               Linda
              </a>
              . Got an idea? A question?
              <a>
               Get in touch
              </a>
              .
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                  <div class="s19">
                   <mj-raw>
                    <span class="s20">
                     💌
                    </span>
                    <span class="s21">
                     THAT WAS GREAT FOR US... HOW WAS IT FOR YOU?
                    </span>
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                  Hot stuff
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                  Just alright
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                   😒
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                  ...Meh
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