"The possibility that America could face another civil war soon is not too far-fetched for a lot of voters."
Markets are their own happy story this morning as “Oooh! Rate cuts!” is again the meme du jour. But back in the real world it’s “Oh! Not rate cuts.”
"I scratch my head - the audacity. The students seize one of the halls, commit acts of vandalism..."
Videos confirm IDF tanks are rolling through southern city...
“It always depends on the current situation, the balance of supply and demand,” Russian Deputy Prime Minister Alexander Novak said on Tuesday...
...the company doesn’t expect to see core Disney+ subscriber growth in the current quarter and profitability in streaming will suffer
...becomes $5.50B worth of VWAP demand favoring the best and largest market cap companies
"Firms have zeroed in on how to cut Peloton's operating expenses..."
...in a tightly controlled, micromanaged financial dystopia, precious metals will become the only way to make private or off-grid transactions, making them more valuable than ever...
"In this environment of growth not rolling over as much as we feared and potentially cuts coming in, there is upside for earnings going forward"
The letter demanded data on drivers....
...why compare one fiat currency against another, when gold outperforms them all?
"The multifamily CRE CLO market was not prepared for rate volatility."
Wafer-thin spreads on corporate debt don’t matter — until they do. There are several potential triggers for risk premia to flare, denting credit portfolios.
- European equities are entirely in the green; US futures are mixed
- Dollar is slightly firmer, Aussie underperforms following the RBA, USD/JPY now around 154.50
- Bonds are firmer and extending on the prior day’s gains; Gilts outperform on their return from holiday
- Crude is flat awaiting geopolitical updates, XAU softer and base metals are mixed
- Looking ahead, US RCM/TIPP Economic Optimism, CBR Policy Announcement, EIA STEO Comments from Fed’s Kashkari & BoC's Rogers, Sup
April printed the first monthly gain since October.