It's a tough time to be an investor.

There are cross-currents galore in the macro data, the financial headlines, policy decision-making, and market technicals.

After the easy decade that followed the Great Financial Crisis where markets dependably churned higher year after year and you could make money just going long pretty much any stock or ETF and "buying the dips" along the way -- suddenly it's taking a lot more hard work to earn a good return.

What are the keys to investing success in today's more uncertain environment?

For guidance, we're fortunate to talk with Andy Constan, founder of the macroeconomic research firm Damped Spring. His work there builds on his earlier tenure at elite firms like Solomon Brothers, Bridgewater and Brevan Howard.

He sees the likelihood of a 'soft landing' as low given today's economic challenges.

And in his explanation, he delivers a detailed summary of how the Reverse Repo Programm (RRP) and the Bank Funding Term Program (BFTP) work.

Follow Andy at https://dampedspring.com/

Or on X/Twitter at @dampedspring

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