Daily Report
CH. Résia Letter — 2026-08-12
CH. Résia Letter Premium Daily Market Intelligence — August 12, 2026 Institutional-style macro and cross-asset briefing generated from the Bayesian market stack. 1. Executive summary What matters today * S&P 500 rose 2.06% over one month, with a 16% risk-off posterior. * Nasdaq fell 0.60% on the day, with