Making matters worse is the blowout in diesel crack spreads.

Ultra-low correlation in stocks is prone to shocking higher as gamma becomes more unstable.

"The main negative was guidance." 

...but Permits rebounded.

“We aren’t pushing the panic button. However, we are closely monitoring whether the bond vigilantes might do so.

With Zipline's drones, Uber expects orders to be delivered within five to 10 minutes.

Headline vol is dead. Underneath, skew is getting bid, hyperscaler CDS is widening and downside convexity is building. The market is pinned. The setup below it isn't.

Unrealized losses on domestic bonds at Japan's major life insurers have soared to 30.86 trillion yen ($194 billion) as of the end of June, up 60% year-on-year.

"The industrial economy either grinds to a halt, or consumers are about to be hit with the biggest energy pass-through in history." 

 

CENTCOM Chief Cooper said the Lincoln has "among the lowest number of cases related to mental health"...

Ex-officer hit with criminal conviction over satirical meme as free speech collapses under two-tier justice...

Massive deficits. $1tn+ of AI capex. A wall of debt hitting the market. Maybe the long end isn't fighting the Fed. Maybe there's simply too much paper.

Iranian Parliamentary Speaker Ghalibaf said the Strait of Hormuz will not open until the blockade and oil embargo are lifted.

"We're in conversations with almost all national security government bodies..." 

Tehran says MoU long ago rendered "irrelevant" as it expired Monday...

Do other countries ignore science when they have fewer shots?

Peter Thiel exited Nvidia. Three months later, 72% of his public equity portfolio is sitting in energy and utilities. The AI bottleneck is moving.