QCP's latest report points out that despite the U.S. adding only 57,000 non-farm jobs in June—far below the expected 110,000—it still hasn’t shifted the Fed’s policy stance. With wage growth holding steady at 3.5% and M2 money supply hitting a record $23.05 trillion, inflation remains the main constraint on Fed rate cuts. The report highlights that as the Fed’s monetary policy 'buffer' disappears, physical buffers across various markets are rapidly depleting: the Strategic Petroleum Reserve (SPR) has dropped to its lowest level since 1983; Strategy has sold Bitcoin for the first time to pay dividends; and redemption requests for eight semi-liquid private credit funds have hit the 5% limit threshold. QCP’s analysis suggests that oil, crypto, and credit markets are showing synchronized weakness, with the market waiting for further financial stress tests to see where the first 'crack' will appear. https://www.(wublock123.com)/news/news-64298