REAR VIEW: NY Fed SCE inflation expectations tick down on the 1yr, with 3- & 5yr left unchanged; Japanese PM Takaichi wins landslide election victory; China is reported urging banks to curb exposure to USTs; Iran's Atomic Chief said Tehran could dilute its highly enriched uranium if all sanctions are lifted; Qatar reportedly pushes the start of its LNG expansion; UK PM Starmer stands his ground as PM & cabinet ministers support him; Alphabet set to raise USD 20bln from dollar bond sale.

Really, it all just felt like an extension of Friday's squeeze (rather than a new dawn)...

 

Cuba tells airlines jet fuel supplies are suspended for a month...

The agency is funding research that officials say will determine autism causes...

...the investor rotation in hard assets can keep several metals prices high for longer, including above what physical fundamentals justify...

“These [alleged] ties could pose a national security threat, potentially jeopardizing key military, intelligence, and civilian infrastructure,”

SPX is stuck. Skew isn’t.

"In practice, the opposite is happening..."

These speculative narratives are classic hallmarks of a mania: the story, not the data, becomes the primary driver of price...

Anybody still long software?

"Criminals will continue to ignore the law, as they always have..."

SPX loves falling bond volatility. Watch the latest uptick in MOVE closely.

This past week's selloff exposed how much of the market's recent support was transient...

"You will run out of fuel long before you will outrun us." 

The end-game of debt-debasement is already visible. The only thing that's still up in the air is our response...

This can't be good. 

In an age of rage, it is often difficult to stand out in the mob as so many pander to the perpetually irate...

"KD was a disaster, with a miss-and-cut report, several mgmt. changes, and a delayed 10Q filing."