"Average gasoline prices fell in 47 states over the last week, with the national average dropping..." 

Nvidia became the latest company seeking to raise at least $20 billion from its first corporate bond sale since 2021. 

a small group of Iranian Americans shouted, “Down with terrorists!”

Firstly, the agreement is not really a ‘deal’ at all, or even a deal to have a deal, but rather a memorandum of understanding staking out a framework to discuss a deal over the next 60 days.

"We have to do [something] with the Supreme Court, that is now a rogue Supreme Court..."

"Gold’s not the same trade that it was 10 years ago"

Outside of Iran and AI, central banks will dominate the global agenda in the coming week; In terms of US data, focus will be on May retail sales.

A march on June 14 attended by around 20,000 people was largely peaceful, but the police said they confiscated some knives and pyrotechnic devices...

Hyperscalers are using creative SPVs to hide the commitment of spending ahead of demonstrated monetization, and as a result headline capex figures materially understate the economic commitment to the AI buildout...

...but capacity utilization increased.

A basic supply-and-demand question: where will the money come from?

The threat revives long-running U.S. opposition to France’s digital tax, which Washington says unfairly targets American companies...

Demand for equity leverage keeps climbing, pressuring funding rates, as the market becomes increasingly exposed to a sudden move higher in correlation.

Crowded 1-delta hedges were unwound (per GS Prime, short covering exceeding long buying at 4.7x to 1 ratio) into a market searching for both conviction  and direction.

“Risk appetite is back on, but the issue is to know whether the Strait fully reopens. Trump doesn’t have a great track record of lasting deals in the Middle East, so there’s a risk of tensions spiking back during the summer.”

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