A blatant abuse of power...

...lay the foundation for “coordinated action” to counter international organizations that are “seeking to implement an extreme political vision through intimidation and coordinated campaigns of terror”

Fed rate hike bets were trimmed following the CPI data, while Fed Chair Warsh said the inflation data did not mean mission accomplished and he cautioned against overreading or cherry-picking the data.

"In New York, the top 1% of earners pay about 45% of all state income taxes in any given year..."

“Healthcare remains among our favorite defensive sectors. Valuations, a stronger dollar and improving earnings support the sector. We expect Healthcare to continue to re-rate.”

PJM Interconnection is 7 nuclear power plants short of ensuring stability in 2028: "These auction results show that demand for electricity continues to grow faster than electricity supply."

Returns are up 30%, valuations have exploded above 35x, yet positioning has fallen to multi-year lows.

“The ICC poses an intolerable threat to U.S. sovereignty - it claims the authority to prosecute and even imprison American servicemen and officials operating on behalf of America’s national interest,”

"A de facto ban that tells the marketplace New York is closed for business."

We're frogs in water that's getting measurably hotter, and it's getting harder to muster the means to jump out of the simmering pot...

US CPI softer-than-expected; US blockade solely on Iran set to resume; Trump to replace 20% fee with trade and investment deals that the various Gulf States will make into the US; US-Iran strikes continue; Fed Chair Warsh testifies to House, maintains commitments on dual mandate & return to 2% inflation; Tankers near Oman hit by projectiles; China's imports & exports beat in June; Strong US bank earnings, but see mixed market responses; IBM prelim Q2 metrics disappoint.

Execution, not geology, remains the key constraint...

"The company has sufficient liquidity to carry its operations well into next year..." 

"This redirection of budgets towards AI has been a topic that Karl Keirstead/team have been articulating as a potential risk for some time..." 

Chinese memory giant CXMT, which Apple is hoping to use as an alternative DRAM supplier to the Big 3 cartel (Samsung, SK Hynix and Micron), unveiled the terms of its highly anticipated IPO...

Governments allow banks to commit this fraud that would be illegal in any other industry.

Meanwhile, he's already revealed which 2028 presidential candidate he'd rather see....

It's hardly a new problem, and the trajectory points to much more carnage ahead.