"I spoke to him, he liked the idea of the indexing, he liked the idea of a bigger exemption..."

Hunt has been a bond bull longer than most money managers have been in the business...

"The businessmen were involved in the expansion process in Las Vegas, but in a stunning turn, they pivoted to..." 

 

...Cushing stocks limp off 'tank bottoms'...

This routine will likely continue through to the US midterms – and then we will see what happens...

The far-left hits a wall...

"Without hard infrastructure, it's difficult to preserve our competitiveness and leadership for the next generation." 

Iranian covert forces could target the plane at the airport in Ankara using shoulder-fired rockets...

S&P 500's 2026 rally is being reinforced by a widening pool of buyers... even as record demand for upside call options signals investors are now paying up to chase gains rather than just hedge against losses...

Cambridge University slaps trigger warning on kids' fairytale...

AI ripped. The power trade lagged. That gap is now closing.

Energy price deflation dominates... SuperCore CPI YoY at the slowest since Sept 2021...

Washington tries to keep alternatives to Gulf oil and gas flowing...

Now that the labor situation is known (and lousy), attention turns to the July CPI due Wednesday at 8:30am ET, where we don't expect anything close to the same fireworks from last Friday's jobs print. 

Term premium in US Treasuries is rising faster than in other countries due to less policy guidance from the Fed coupled with rising inflation and inflation volatility...

"A higher inflation reading would likely boost expectations of a hike in September and December and thereby putting pressure on equity and bond prices"

Convexity is cheap. FOMO isn't.

“Earnings drive market outcomes. In 151 years, every single 20% market decline was accompanied by a double-digit earnings decline, with zero exceptions.”