The commodities rally is only just beginning, as countries shift toward greater self-reliance and less efficient use of resources while becoming more indebted.

Winter is Coming for Appalachia: This week's Appalachian nat gas production is already down 1.1 Bcf/d versus... 

Inflation-adjusted gross domestic product increased at a revised 4.4% annualized rate, the fastest in two years, and up 0.1% from the initial estimate, reflecting upward revisions to exports and investment that were offset by a downward revision to consumer spending. 

The bipartisan legislation is largely non-controversial, though Democrats are split on funding for ICE in the bill...

...will Trump be pleased or pissed?

“Despite a very positive market narrative about 2026, geopolitical crisis and US tariffs can fuel volatility spikes at any time”

...it also about the Fed's status as a power center, not in the traditional sense of “independent monetary policy” but as an institution that Trump has yet to dominate... determined to flatten all obstacles to his exercise of power...

"This could turn out to be a survival test, given about €1b of debt is due in 2027 and 2028."

"They have done this before, after World War II, and they are going to do it again as soon as this year..."

Squeeze risk remains real...

Would give the order...

The deal is similar to the United Kingdom’s bases in Cyprus, which are regarded as British territory...

“I wish the United Nations could do more. I wish we didn’t need a Board of Peace,”

Demand is deteriorating: European cocoa grindings fell to the lowest quarterly level since 2013, Asia also...