"...is the equivalent of leaving the government’s fox in charge of The Washington Post’s henhouse.”

Dubai is a key supplier to Switzerland, Hong Kong and India...

US strikes Iran, Iran hits US bases across Middle East; IRGC closes Strait of Hormuz; US Secretary of State Rubio said Bessent and Wright will announce steps to mitigate oil costs on Tuesday; QatarEnergy halts LNG production; Saudi Arabia's Ras Tanura refinery shuts down after a drone strike; Strong ISM Manufacturing PMI, Prices Paid surge; SNB says it is more ready to intervene in FX.

Our minds rebel when confronted with polycrisis, a knotted mess of inter-connected problems, and so we apply solutions we already have in hand.

Calm Markets, Terrified Hedgers.

Frozen. 

JPMorgan's Market Intel desk turns Tactically Cautious as it prepares for "what may be a multi-week period of elevated uncertainty"

The Pentagon says the US is prepared as the FBI probes the Austin shooting as a "potential nexus to terrorism"...

...history tells us that the crucial aspect is considering the sensitivity of oil price changes to the duration of the conflict (or disruption).

The hotel became a hub for illegal aliens...

"The attack on Saudi Arabia's Ras Tanura refinery marks a significant escalation..." 

"I can not get my head around how a market that has this much going on had a vix last week with a 19 handle..."

Foreign media sources are circulating claims US/Israeli forces struck Iran’s Arak heavy-water reactor complex and Natanz enrichment facility...

Today's oil surge - which is fading fast - is not that big in the grand scheme of geopolitical conflicts...

Buterin says AI coding still has “massive caveats", but people should expect Ethereum’s roadmap to be finished much faster than expected...

Despite the hoopla about data centers, spending on factory construction was five times larger.

The SaaSpocalypse makes for dramatic headlines, but the idea that AI agents will simply devour enterprise software whole ignores both the data and the institutional complexity of the businesses being disrupted.

Beyond the risk of rare earth metals becoming a major focal point between Beijing and Washington (again), UAMY may also be rising, as antimony is a critical rare earth used... 

Pig Butchering?

...did 'retail' just try to call the bottom in 'software'?