...the writing is on the wall for the dollar's exorbitant privilege.

Politicians lie. That's hardly breaking news. What is newsworthy, though, is that our society does not even pretend to pursue truth anymore.

REAR VIEW: US/Iran trade retaliatory strikes; Kuwait international airport struck, with both US & Iran blaming each other; Iran FM said no established method for US/Iran negotiations now; Trump said working on a deal with Iran; US ADP tops expectations; Strong headline US ISM Services PMI report, although prices remained elevated; Barr said policy in good place; Williams noted no obvious argument to alter interest rates currently; MRVL gains continue.

According to the company, the investment will cover R&D, capex, manufacturing scaling, ecosystem partnerships, and M&A; areas that IBM says will help accelerate its quantum roadmap beyond 2029.

The limits apply to agentic coding platforms such as Anthropic’s Claude Code and Cursor...

For now the markets operate more on flows, positioning, sentiment and momentum than they do on fundamentals or valuation...

middle-income households were described as “squeezing more life out of every dollar before deciding to spend it,” and low-income consumers showed greater financial strain.

...the 'Netscape' analog puts us in July 1998...

CBOE’s Dispersion Index (DSPX) is at levels only seen during Covid and the April ’25 tariff crash, while Correlation (COR1M) is near all-time lows. This divergence signals extreme positioning risk driven by the AI stock chase, and makes SPY downside hedges historically cheap.

Democrats say the change protects voters and answers Republican-led states while the GOP calls it a partisan gerrymander...

History is upon the ETF industry as VOO (the largest US-listed ETF) tops the $1 trillion AUM threshold...

Dare Some Protection.

In a move that is long overdue, Jay Clayton, the US attorney for the Southern District of New York, said his office is looking at possible valuation discrepancies in the private credit marketplace. 

Sky-high valuations, rampant speculation, and "paper wealth" vastly outpacing actual cash flows...

In addition to shorting, Jefferies traders are preparing to help any investors that are allocated shares flip them in the days after SpaceX’s debut...

"Your antipathy to the future of the show has come through loud and clear... "

The direction of Warsh’s mission is clear, but he may get there later than the administration might like...