Both sides can now attack each other on a limited/proportional scale under a ‘ceasefire’ while peace negotiations continue… which Trump says are now in the “final throes”, and cynics point out such finality is always thrown further into the future.

66.2 million barrels drained from the SPR since the Iran 'mini-war' started (16% of the pre-war total)

Free-AI is ending. Tokenomics is beginning...

Gold was supposed to thrive on fear. Instead, some of the biggest VIX spikes in recent months have coincided with aggressive gold selling.

Sharp reversals often reveal underlying stress that has been building beneath the surface long before it becomes obvious in the major indices.

Services costs are accelerating but Goods prices deflated for the first time in a year...

"Businesses of all sizes can now use LTL to move freight, typically ranging from one to six pallets, or between 150 and 15,000 pounds."

...$500 billion of expiring lockups this year...

Situation growing intolerable...

Democrats are looking to flip the seat held by Sen. Collins

“We currently see a healthy correction in parts of the market which might have moved too far, too fast. There’s also no trigger to further upgrade earnings expectations."

AI is unpopular, inflation is unpopular... Unfortunately for markets, a policy response to either or both issues may result in somewhat less exuberance around the AI theme...

"in the past 100 years once CPI crosses 4% on average, the S&P is down 4% in the next 3 months, and down 7% next 6 months."

When leverage becomes larger than liquidity, fundamentals stop being the primary driver of price. The AI trade is beginning to find out why.

"The reality is now undeniable: the ballot box is dead, the entire system is rigged, and our leaders are not listening to us. You cannot vote your way out of a regime designed to replace you. "

Divorce rates vary dramatically by occupation, ranging from just 14.2% among actuaries to nearly 50% in healthcare support roles....

One bank says it is increasingly likely that Hormuz never fully reopens and that the debate needs to shift to shape of "new normal" - in that world, tank bottoms would be reached in October (in the US) or December (globally).

A robot doing backflips is impressive. A robot finding your socks, folding them, and putting them away is much harder.