BlackRock TCP slashed the full value of loans it extended to Renovo Home Partners, a struggling home improvement company, from 100 to 0 in three months. 

The 1973 Arab-Israeli War, also known as the Yom Kippur War, has several similarities to today’s conflict with Iran...

Bitcoin ETFs saw modest inflows... but, flows to Treasury ETFs also indicate a lack of concern...

The list of countries announcing deployments – especially to Cyprus – is expanding and now includes France (taking a lead role), the UK, Germany, and Greece. Italy is coordinating but has not confirmed deployment, while the Netherlands is also sending a naval vessel.

"After feedback on the ground from a global marketing tour, I am taking off our tactical bearish equity call from February, as sentiment has materially weakened and the bear camp has become too popular."

Stocks are likely to sell off hard again before the weekend...

...bias remains defensive... but the market does seem somewhat fatigued with caring... may still deteriorate meaningfully…

“If it is blocked for more than a week, the risk of sustained high energy prices would become real. If it is resolved quickly, the economic and financial impact would likely be negligible.”

" ... is the result of our practical achievements and that we are ready to get rid of it, provided we get something good in return." 

‘The Ecuadorian people have witnessed firsthand the terror, violence, and corruption that these narco-terrorists inflict,’ Marine Gen. Francis L. Donovan said.

APAC stocks rebounded from yesterday's sell-off as the region took impetus from the positive handover from Wall Street, where the Nasdaq led the advances on tech strength, while geopolitics remained in focus.

All is well in the world again. 

...investor sentiment and flows lead us to believe the only way up is down from here.

Iranian official denies NY report that Iran reached out to CIA for talks to end the war; ADP monthly growth accelerates more than forecasted; EIA crude stocks build more than expected; Aluminium Bahrain declares force majeure; QatarEnergy declares force majeure; Houthis may attack Saudi energy sites; Australian Q4 GDP growth tops expectations; Swiss Inflation comes in hotter-than-expected; SNB Vice Chair says ready to intervene in FX; Mixed China PMIs.

"We assume that Strait of Hormuz oil exports remain flat at current levels (estimated at around 15% of normal) for an additional 5 days before gradually recovering to 70% in the next 2 weeks and then to 100% in the subsequent 2 weeks." - Goldman

...amid significant geopolitical chaos, crypto markets demonstrated absorption capacity, outperforming traditional safe-havens like the USDollar and Gold...

"I tried short‑term trading before and lost heavily"