Hertz raised the number of electric vehicles it plans to sell this year as it is cutting its EV fleet to reduce losses that have weighed on the car rental giant’s earnings.

The reasoning is so simple, a fifth grader could understand it - which is probably why the Biden administration doesn't. 

In the United States, you pay property taxes on your home. This reality gives rise to the perennial question: do you really own your home if maintaining that title requires paying huge property taxes on the place annually?

...pain in bank balance sheets is coming back...

An absolute blowout of a quarter.

"..orchestrating a new era of AI transformation..."

...rate-cut expectations plunged to cycle lows (and June is off the table for the first cut)...

"We’re at a stage where MoF/BoJ have no choice but to intervene. The best way would be for BoJ to hike 25bps this week. It’s not about the macro anymore (BoJ should’ve normalized policy faster last year)."

But it was good enough not to rock the bond market.

...it doesn’t seem as though gold is currently being bought for its safe-haven appeal at this stage. Where would the gold price be if the Fed starts cutting and the geopolitics worsen?

To be exact, the bid was 16 bitcoin...

Even more bad news for the Biden admin.

...vigilance should be increased for a yuan devaluation. Though not a base case, the tail-risk of one occurring is rising...

"Just six months out from the presidential election, it looks like the economy is finally slowing down."

This is the 28th straight month of YoY declines for non-seasonally-adjusted pending home sales.

Anyone under the age of 60 probably has no acquaintance with stagflation. The U.S. last experienced this in 1977–1981... It was great for hard assets such as gold, but a nightmare for holders of stocks...

What time is the Biden press conference to confirm there will be rate-cuts this year?