API reports a bigger than expected crude draw...

...will Nemesis first catch up to Biden’s long record of hubris and dishonesty?

REAR VIEW: Hot M/M US PPI, but not as bad as first looks; BoE's Pill talks up possibility of rate cuts; OPEC+ has reportedly reopened fraught debate on members' oil capacity; AMC & GME circus continues; SONY rethinking PARA bid; Google I/O event.

...'mixed'? ...really!?

It looks as though Elon Musk may have slightly overshot the mark with cost cutting at Tesla.

“Immigration clearly adds workers to the country, but it just as clearly adds non-workers who need to be supported by the labor of others...”

"The largest solar flare of the current solar cycle 25..." 

“Inflation is going to get much stronger as the economy weakens and enters recession... Then the Fed has to choose, and it’s going to be at the point where it’s damned if it does and damned if it doesn’t..."

...possible that the combination of seasonal vol depression, further decorrelation, and a sharp drop in single stock vol occurs, and index realized vol drops into the single digits as a result...

After clearing a total value of more than USD 115bn in 2023, I discuss why Dubai and the DCCC are perfectly positioned to support the economic power migration

Chaos in the bean market. 

...despite concerns ranging from geopolitical risk to still inverted yield curves, slowing economic growth, high interest rates, and inflation... markets are flirting with all-time highs.

" It now seems this is a new form of attack on Tesla Superchargers..." 

 

Goldman's volatility panic index has collapsed over the past weeks.

Blame central banks for this perverse state of affairs, with their implicit backstop for markets...

White House assesses that the full-blown assault has yet to begin, however...

"I think everybody knows he is not the bookkeeper for his company..."

The quadrupled tariff aims to keep the excessive cheap Chinese EVs at bay and protect the US auto industry...