"We suspect investors will take the guidance in stride, given some level of conservatism..." 

Under the American Reserve Modernization Act of 2026, Bitcoin must be held for a minimum of 20 years unless used to slash national debt...

The securities regulator said it planned to penalize brokerages Futu Holdings, Tiger Brokers and Long Bridge Securities for operating on the mainland without a license, and would confiscate all “illegal gains” from their domestic and overseas entities.

 Decline is a choice...

Pressure to get back on track might encourage market-chasing...

Warsh’s arrival at the Fed is not a personnel change. It is a regime change attempt inside an institution built to prevent one...

" ... implied oil price would be $208/bbl, and if the demand elasticity was 0.1 prices would approach $372/bbl."

"The cost of living continues to be a first-order concern..."

The data highlight the conundrum for the ECB. Price pressures are of clear concern, but weak activity data question whether the ECB needs to hike rates as much as markets have been expecting to rein back demand in the face of the supply shock.

Workarounds and inventory drawdowns are Band-Aids on a wound that needs surgery...

Forces moved closer to Russia on NATO's eastern flank...

The Fed is losing control of rates…yet stocks keep pricing perfection.

"For that, I am sorry. I am therefore showing below a verbatim transcript..." 

Markets are behaving as if volatility has been abolished. Meanwhile, bond vol is exploding, implied correlations remain depressed, and VIX is approaching what increasingly looks like a natural floor.

Only a meaningful equity selloff is likely to pull bond yields considerably lower... Global equity risk-reward looks poor...

“We’ve got the biggest capital spending boom since the financial crisis. That’s leading to record corporate profitability; we are in this virtuous circle where it’s generating profitability for other suppliers, other companies too.”

"The coming months could see persistent..." 

The price is almost double a Blackwell rack. Why the soaring cost? Hint: memory.

In the last two decades, free speech protections in the U.K. have been eviscerated...

"It freaks people out."