“Trading as if they were the same asset... if we want relief on rates we first need relief on energy.”

The Midcontinent Independent System Operator on Friday proposed a set of requirements large loads must meet before they can connect to the grid, including ramping and ride-through specifications.

The SPR is now at its lowest level since 1982...

“The investment in these deals will massively grow available oil production, which will give downward pressure on oil prices, but the biggest kink right now in gasoline and diesel prices is refining capacity”

This is a month when traders typically brace for further volatility... With the VIX currently around the 15 handle, and typically rising to 20 in September, having a few hedges in place might not be a bad thing.

...second best annual gain in factory orders since Oct 2022.

"Joseph McCarthy was correct, one Communist was one too many." 

... it appears 160 is the new line in the sand for the Bessent/BoJ plunged protectors.

"Today, we're making a number of significant organizational changes across Uber. We are removing layers..." 

Europe has an energy problem again. It also has a positioning problem — for the bears.

...carried out to justify the German economy’s evolution to war footing, distract from the resultant problems, and legitimize a future serious escalation against Russia.

What could possibly go wrong? 

Goods Producers shed jobs at the fastest pace since October...

“The new baseline seems to be that the Fed will, after all, hike rates in September, Fed Chair Kevin Warsh has made it reasonably clear that inflation is not falling quickly enough to target and, given a reasonably strong economy, the Fed will need to act.”

"There is a mountain of evidence here. The evidence is overwhelming..."

Equities are reproducing the surface calm of 2024 without the rates backdrop that buttressed it during that episode...

Rare US strikes against Iran started in middle of US trading hours...