...due to a misguided green initiative, instead of installing inherently energy-efficient steam-based laundries, the Ford-class carriers have standardized on more expensive, more complex, inherently fire-prone, ozone-based systems...

At least two tankers - one of which signaled China as its destination - reversed course near the Strait of Hormuz shortly after the start of the US blockade...

Bernstein says Bitcoin’s selloff already reflects quantum risk and that developers still have time to agree on a post-quantum upgrade path...

The average effective tax rate on single-family residences was 0.9 percent, the highest since 2020, according to ATTOM.

The location of US ships around Iran as of Monday...

"without a radical acceleration in domestic manufacturing and grid integration, the digital expansion of the late 2020s risks stalling into a series of unfulfilled promises."

...for all of the reasonable handwringing around geopolitical Plinko and AI disruption... US initial jobless claims sit near multi-year lows...

The Fifth U.S. Circuit Court of Appeals ruled on April 10 that a Reconstruction-era prohibition on home distilling exceeds Congress’s taxing power...

The rewiring of global energy flows toward the U.S. comes down to one thing. 

...the scramble for prompt barrels is worsening even as paper markets lean on eventual normalization. 

"we are not supporting the blockade"...

When it comes to the week ahead, clearly the Iran conflict will be the main focus, but there are a few other things to look out on the calendar.

April – 2026. The IRGC is master of the Strait of Hormuz. Only the American fleet stands before them. Oceans are now battlefields...

...second biggest drop in existing home sales since Nov 2022

...the risk-off move last night are a good reminder that this is still a fragile re-risking phase, not a straight line move higher...