Trump’s Threatened US Strike Wave On Iran Commences, Explosions Heard Along Coast Summary Wednesday night US attack wave commences along Iran’s coast. Trump tells NATO summit that Iran wants to assassinate him: “on every single one of their list.” Iran threatens to reclose the Strait of Hormuz and suspended final talks with the US. The US earlier revoked an Iranian oil waiver & now signals readiness to restore a maritime […]

Consumer Credit Unexpectedly Shrinks For The First Time Since 2024 As Credit Card Rates Jump After two consecutive outsized jumps in consumer credit in the months of March and April, when gas prices surged and inflation resumed its track higher, lifting most prices as a result of the war in Iran, moments ago the Fed published its latest consumer credit (G.19) report for the month of May and it was a doozy: instead of the expected […]

Brown University Prof Bans Take-Home Exams After Mass-Cheating Authored by Jennifer Kabbany via The College Fix, A Brown University professor says he will no longer allow students to take exams at home after he caught a large chunk of his class cheating on a test. Economics Professor Roberto Serrano said he allowed students to take a midterm at home, and 40 students, nearly half the class, earned a perfect 100; among the 86 […]

Coffee Lovers, Take Note: Lavazza Sounds Alarm, Suggest It May Be Time To Stock Up Following the largest daily surge in Arabica coffee futures since the Dot-Com bubble, the head of Italian coffee giant Lavazza Group warned that prices are unlikely to fall over the next two years. Giuseppe Lavazza, chairman of the Italian roaster, was quoted by Bloomberg as saying, “The market needs to have stability before it’s time to think about […]

Are Flattening Curves And Style Rotations Deceptive Omens? Authored by Michael Lebowitz via RealInvestmentAdvice.com, Bond market pundits often warn that bear yield curve flatteners or inverted yield curves ultimately lead to recessions. Similarly, some equity experts caution that periods of violent back-and-forth rotations among stock sectors and/or style factors are precursors to a market top.  Additionally, the combination of a […]

FOMC Minutes Show ‘A Few’ Fed Members Wanted To Hike In June, ‘Majority’ Fear Higher Inflation Tl;dr: The minutes underscored a more hawkish tone on inflation. UBS traders noted that most participants cited scenarios in which price pressures could remain elevated, including stronger AI-related demand, the ongoing Middle East conflict and tariffs. In those cases, nearly all of those officials said some additional policy tightening […]

Bezos’ Blue Origin Seeks $10 Billion In First-Ever Outside Funding Round Fresh off Elon Musk’s SpaceX IPO, it appears that, for the first time, Blue Origin is preparing to raise outside capital in a deal that would value Jeff Bezos’ rocket company at about $130 billion. Andrew Ross Sorkin, financial columnist for The New York Times and a co-anchor of CNBC’s Squawk Box, wrote in a DealBook report, “I’ve got a scoop on Blue Origin […]

The Great Migration: What The Dow-To-Gold Ratio Is Telling Us Authored by Bryan Lutz, Editor at Dollarcollapse.com, It takes about 13 ounces of gold to buy the Dow Jones Industrial Average. The Dow-to-gold ratio prices the entire American stock market. And it does it in the one currency no central bank can print. Over the past century, it tells the same story. It measures when the US stock market is overvalued… when it’s […]

Stellar 10Y Auction Stops Through, With 3rd Highest Foreign Demand On Record Following yesterday’s stellar 3Y auction, moments ago – with yields surging to the highest level since mid-May – the Treasury completed the sale of $39BN in a 9 Year 10 Month reopening of 10Y cusip QQ7, in what was another spectacular auction. The note sale, which priced just after 1pm ET, stopped at a high yield of 4.580%, up from last month’s 4.538%, and […]

Russia Bans Diesel Exports, Assuring Even Higher Prices As was widely speculated in recent days, Russia banned exports of diesel in order to avoid domestic shortages after a flurry of attacks by Ukrainian drones on the nation’s refineries. “Today we introduced ban on exports of diesel,” Deputy Prime Minister Alexander Novak said at the government’s meeting with President Vladimir Putin. The decision will further squeeze […]

George Soros Angers Hamptons Residents After Massive Land Purchase Authored by Luis Cornelio via Headline USA, George Soros has long used his billions to influence politics, but now his family appears to be using that wealth to reshape its own backyard through a massive land grab in the Hamptons. The Soros family has purchased 18 plots of land on Shelter Island, a Hamptons community, angering residents who are concerned that […]

FOMC Minutes Preview: Scrutiny For Hawkish Bias Today’s FOMC minutes will be scrutinized for further insight into policymakers’ appetite for additional rate hikes and the thinking behind the Committee’s hawkish shift at last month’s meeting. The minutes are an account of the June 17th meeting and therefore will not reflect subsequent developments, including the softer-than-expected June nonfarm payrolls report or Chair Warsh’s […]

Southern Poverty Law Center Pleads Not Guilty To Federal Fraud Charges Authored by Matthew Vadum via The Epoch Times, The Southern Poverty Law Center (SPLC) on July 7 entered not guilty pleas again to 11 criminal counts alleging it defrauded donors by sending millions of dollars to informants who infiltrated white supremacist and so-called hate groups that it publicly opposed. The fresh arraignment of the nonprofit organization […]

63 Million Barrels Of Iranian Oil Stuck At Sea After US Pulls Iran Sanction Waiver Tehran’s oil export troubled just got worse.  One week after we reported that Iran was already struggling to sell its crude to buyers in Asia (including China, which appears to now prefer UAE exports instead), overnight the US rescinded the sanctions waiver that allowed Tehran to sell its oil without penalties, making sales of Iranian crude to […]

Your Delusion Doesn’t Make Me A “Doomer” Submitted by QTR’s Fringe Finance “There exists in society a very special class of persons that I have always referred to as the Believers. These are folks who have chosen to accept a certain religion, philosophy, theory, idea or notion and cling to that belief regardless of any evidence that might, for anyone else, bring it into doubt. They are the ones who encourage and support the […]

Trump Greenlights Patriot Missile Production In Ukraine, Praises Deep Strikes Into Russia President Trump just prior to entering the Oval Office vowed to quickly achieve peace in the Russia-Ukraine war, which is currently in its fifth year. The MAGA base got energized by Trump’s earlier repeat statements that he’d bring peace to major global flashpoints and hotspots, but instead of anti-interventionism he started a new war of choice […]

WTI Extends Gains As Crude Exports Slide, SPR Drain Continues, ‘Tank Bottoms’ Hit Oil prices spiked overnight to three-week-highs after President Trump said that he thought the Iran cease-fire was “over” amid a volatile 24 hours in the Persian Gulf region. The Trump admin launched a series of strikes on Iran and revoked a waiver that had allowed Iran to sell oil in retaliation for attacks on tankers this week in the Strait of […]

Trump Admin Approves Public Release Of OpenAI’s GPT-5.6 Models Ahead Of Thursday Release The Trump administration has approved the wide public release of OpenAI’s advanced GPT-5.6 model family, a source familiar with the discussions confirmed to Axios on Tuesday. OpenAI announced late Tuesday night that its flagship model, named Sol, along with the more accessible Terra and Luna variants, will launch publicly this Thursday. Prompt […]

The Plumbing For Vast Defense Spending Needs To Be Set Up By Michael Every of Rabobank In response to Iranian strikes on ships using the Omani route in Hormuz, the US has struck Iranian air defense, missile, and drone sites in the Strait and suspended its oil sanctions waiver. These are clear breaches of the MoU, and we will now see if Iran escalates –it says it will take “decisive” action– with the risk of war if the US is […]

South Korea Falls Into Bear Market As Memory Euphoria Fizzles It started off with the usual morning rush by retail momentum chasers into the handful of massive, market-moving names (read Samsung Electronics and SK Hynix), but as has been the case over the past two weeks, the initial euphoria quickly reversed and the Kospi rolled over, closing down 5.4%, 9.99% over the past two days, and down 22% from the all time high of 9385 hit […]

Zelensky In Ankara Still Insistent On Ukraine Joining NATO: ‘Alliance For The Future’ President Volodymyr Zelensky is in full court press mode while being present in Ankara for the annual NATO summit, amid Western leaders including President Trump. He has predictably renewed his argument for Ukraine to join the North Atlantic alliance, while also touting some momentum on the battlefield as Russia comes under repeat long-range drone […]

Higher Electricity Rates In Blue States Linked To Renewable Energy Policies Authored by AG News Staff via American Greatness, A new analysis by Always On Energy Research and the Institute for Energy Research concludes that renewable energy mandates and net-zero policies have contributed to higher electricity prices in states that adopted them, while states with fewer climate-related mandates generally have lower electricity costs. […]

Futures Slide, Oil Jumps After Trump Declares Iran Ceasefire Over Markets are on the backfoot this morning with equity futures and macro credit under pressure, bond yields spiking, the USD higher, and oil jumping after President Trump thrust geopolitical risks back into focus by declaring the ceasefire between the US and Iran to be over calling it “a waste of time” after the US launched strikes against Iran in response to […]

NATO Chief Backs Renewed US Strikes On Iran As ‘Absolutely Necessary’  Even if most individual NATO members are still reluctant to jump on board Trump’s Iran war, NATO Secretary-General Mark Rutte is busy praising American military action there amid the annual summit in Ankara. Rutte has freshly described the overnight fresh US military strikes on Iran in response to Tehran attacking multiple international shipping vessels […]

Senate Defense Bill Would Establish Fund For Government To Buy Into Private Companies Authored by Kevin Stocklin via The Epoch Times, A new bill in Congress would enshrine into law the ability of the executive branch to buy into private companies, and create a fund to finance the purchases. The Pentagon in Arlington, Va., in this file photo. Carolyn Kaster/AP The current Senate version of the National Defense Authorization Act […]