Today on the Brief:

• Initial U.S. jobless claims up to 870,000
• Partial lockdowns begin in earnest in Europe and Israel
• The global demand for American stocks

Our main discussion: Did corporate insiders perfectly time the market top? 

August saw the largest volume of insider selling since 2015, with more than 1000 corporate officers offloading $6.7B in stock. Subsequently, the market has seen a 10% decline since the S&P500 all time high of Sept. 2. What’s more, according to new statistics, insider selling is happening at the fastest pace since 2012. 

The question is: What do these executives know that the rest of the market doesn’t?