Ugly, Tailing 30Y Auction Sees Foreign Demand Tumble, Dealer “Backtop” Bid Jump After yesterday’s stellar 10Y auction, which saw the 5th highest Indirect take down on record, today’s reopening of $22BN in 30Y paper (via Cusip UU0) was a mirror image: ugly, poor foreign demand, and tailing. Starting at the top, the auction priced at a high yield of 5.02%, down fractionally from 5.046% last month (which was the first 5% coupon […]

Trump Cancels Tonight’s Planned Iran Strikes, Citing ‘Highest Level’ Talks, Even As Tehran Denies Summary TACO: Trump Cancels Strikes After All Day Bluster About ‘Bigger’ Strikes on Iran Tonight Iran Parliament Speaker Ghalibaf says “Wrong strategies and impulsive decisions will reset the entire board for the worse, explode energy infrastructure and markets & create an endless quagmire that you will be stuck in for years.” […]

Backroom Detente: A Curious Lack Of Iranian Strikes On UAE, While Others Get Hit President Trump is vowing another consecutive night of even heavier US military strikes on Iran. Yesterday’s salvo involved at least 49 Tomahawk missile strikes, mainly happening against southern coastal areas off the Strait of Hormuz. Amid Iran’s counter-attacks on Gulf nations and reportedly on American bases hosted in these Arab Gulf allied states, […]

Pardoned J6er Sues Government For $18 Million Over Alleged Abuse In Pretrial Detention Authored by Matthew Vadum via The Epoch Times, A former Jan. 6 defendant who alleged torture and other abuse in custody is suing the federal government for almost $18 million. The lawsuit by Ryan Samsel of Bristol, Pennsylvania, was filed late June 9 in federal court in Virginia, six months after he gave the government the legally required […]

FIFA World Cup Gets Underway Across North America The largest, most inclusive, and most widespread World Cup tournament in FIFA’s history kicks off with two games in Mexico today. For the next several weeks, nearly 50 nations will compete in more than 100 games in stadiums spread out across Mexico, the United States, and Canada—the first time FIFA has allowed three countries to co-host the event. Here is a breakdown (via The […]

Emails Show Senior DOJ Officials Questioned Biden-Era Memo To Probe School Board Threats Authored by Matthew Vadum via The Epoch Times, Internal emails from the Biden-era Department of Justice (DOJ) show that senior officials objected to then-Attorney General Merrick Garland’s plan to use the FBI to investigate parents opposed to school policies. Critics at the time said the policy change, which was contained in a memo signed […]

Cato Vs Heritage: Should The US Defend Taiwan? While President Trump has softened his rhetoric on China since his recent visit to Beijing, he has continued to keep the answer to one question close to his chest: would the United States go to war to defend Taiwan if China attempts to seize the island by force? Though perhaps a better question is Should we? Tonight, the Cato Institute and Heritage Foundation join ZeroHedge Debates to […]

Pentagon Lockdown: Multiple Floors Evacuated Over Hazardous Materials Air Quality Incident Several floors and corridors of the Pentagon were locked down and partially evacuated Thursday morning following the detection of a hazardous materials incident and air quality concerns, according to officials and multiple reports. What we know… Floors 2 through 5 in corridors 4 through 7 are currently locked down. Personnel observed […]

House Rejects Short-Term Spy Law Extension As GOP Races To Preserve FISA Surveillance Tool Before Friday Deadline Update (1100ET): A key spy law could expire after the House blocked its short-term reauthorization. The June 11 vote set back an effort to renew Section 702 of the Foreign Intelligence Surveillance Act (FISA). President Trump’s selection of Bill Pulte as acting director of national intelligence drove Democratic […]

USPS Proposes Halting Mail Ballot Delivery To States That Refuse Voter Roll Verification Via American Greatness, The US Postal Service (USPS) has proposed a new rule requiring states to share voter information related to mail-in and absentee voting. The proposal follows a March executive order from Trump aimed at tightening regulations governing mail-in voting in federal elections. Trump has made election integrity a central […]

After SpaceX IPO, Jefferies Lays Out Five Takeaways For Space Boom Into 2030s Friday’s SpaceX IPO will be a defining moment not only for capital markets but also for the booming space industry and Elon Musk’s broader industrial empire, which has catapulted America to the lead in the space race against Communist China and Russia. Ahead of the four-times-oversubscribed SpaceX IPO, we explained to readers how to profit from the […]

ActBlue CEO Pleads The Fifth During House Panel Hearing Authored by Darlene McCormick Sanchez via The Epoch Times, ActBlue CEO Regina Wallace-Jones invoked the Fifth Amendment on Wednesday before the House Administration Committee, surrounding reports that she may have misled Congress about how the platform vets foreign donations. The U.S. Capitol building on June 9, 2026. Madalina Kilroy/The Epoch Times Wallace-Jones had […]

Bessent Pulls Trigger On Using Frozen Funds To Reimburse Gulf Allies: ‘Iran Will Pay’ US Treasury Secretary Bessent announced on X Thursday morning that Washington is moving forward on a plan to compensate America’s Gulf regional allies for damage sustained during Iranian counterattacks on their energy and civic infrastructure. He made clear that any damage to Gulf allies would be paid for with frozen Iranian funds, which Tehran […]

War And Piece By Michael Every of Rabobank Sorry, Bank of Canada (rates held at 2.25%), Chinese CPI and PPI (1.2% and 3.9% y-o-y headline) US CPI (0.5% m-o-m and 4.2% y-o-y headline, 0.2% and 2.9% core), and the ECB today: you all matter but are just pieces of the global picture one now needs to finish: the war vs. Iran. Changing the recent pattern, President Trump said he would strike Iran again today and did. At time of writing, […]

Iran Threatens Elon Musk’s Gulf-Area Starlink Ground Stations In Suspicious Timing Ahead Of SpaceX IPO Summary: Iran Threatens Musk’s Starlink Ground Bases In Gulf Area Ahead Of IPO   Massive SpaceX IPO Demand Coming From Gulf Sovereign Wealth Funds IranIntlbrk is the X handle for Iran International’s breaking-news account and cites Tehran-aligned Fars News Agency, stating that the Islamic Revolutionary Guard Corps has […]

AI Price Wars Begin: OpenAI Considers “Drastic Price Cuts” In Pursuit Of Anthropic Customers Earlier today, in a report discussing how “AI bills are out of control”, JPMorgan tech guru and TMT salesman, Mark Schilsky wrote that “most of my high level investor discussions focus on one major topic: when will the party end? Put another way, tech investors have made so much money in Semis so quickly that they are looking for potential […]

US Initial Jobless Claims Jump To 4-Month-Highs The number of Americans filing for unemployment benefits for the first time jumped to 229k last week (more than the 220k expected) and the highest in four months… Source: Bloomberg Pennsylvania, California, and Minnesota are the states seeing the largest rise in claims last week… Continuing jobless claims also rose last week to 1.795mm Americans – highest in two months, but […]

Bill Gates Tells Congress That Epstein Exploited Knowledge Of His Adultery Microsoft founder and mega-billionaire philanthropist Bill Gates told Congress that Jeffrey Epstein exploited knowledge of Gates’ multiple marital infidelities. Gates insists, however, that he committed no crimes and that the women he had adulterous sexual relations with were not associated with Epstein. Nonetheless, Gates’ highlighting of Epstein’s […]

Core Producer Prices Cooler Than Expected In April, Goods Costs Jump Most On Record After yesterday’s mixed bag from consumer prices (headline in-line but core cooler than expected and goods deflating), US Producer Prices were expected to keep accelerating higher (on a YoY basis) in May and they did… by more than expected. Headline PPI rose 1.1% MoM in May (much hotter than the 0.7% MoM exp) but April’s 1.4% MoM rise was revised […]

ECB Hikes Rates For First Time Since 2023 (As Expected); Cuts Growth, Hikes Inflation Outlook As fully expected, The ECB hiked its key rate by 25bps (for the first time since 2023) as the policymakers battle with the dilemma of economic weakness combined with rising inflation. Obviously, raising rates to dampen inflation could further slow the economy, while easing rates to support growth increases the risk that higher inflation […]

Futures Rise, Oil Drops As US Ends Iran Strikes US equity futures are higher led by tech and small caps, with traders buying the dip in stocks as a swift conclusion to the latest round of US strikes against Iran raised expectations that talks over a peace deal and the reopening of the Strait of Hormuz will get back on track. As of 8:00am ET, S&P futures rise 0.7% to recover from a five-week low after Trump forewarned Iran would […]

A Small Win For Free Speech In UK Authored by Steve Watson via Modernity, South Wales Police has shelved plans to record instances of “anti-Muslim hostility” that strayed beyond what officers considered “legitimate” discussion of Islam. The force paused the policy after the Free Speech Union threatened judicial review and Shadow Equalities Minister Claire Coutinho referred it to the Equality and Human Rights Commission. Critics […]

ECB Preview: First Rate Hike Since 2023 Markets expect the ECB to hike by 25bps, the first rate hike since 2023, but do not look for explicit guidance on the path ahead, with the Council likely pledging in the statement to set monetary policy in a data-dependent and meeting-by-meeting fashion. Lagarde is likely to highlight that tightening is appropriate, for example, by repeating that the energy shock requires “some measured […]

Strategy (MSTR) CEO Says Bitcoin Sale Was About Market ‘Inoculation’, Not A Retreat Authored by Micah Zimmerman via BitcoinMagazine.com, Strategy Inc. CEO Phong Le somewhat pushed back Tuesday against the wave of criticism that followed the company’s first Bitcoin sale since 2022, telling CNBC’s Power Lunch that the move was a deliberate, limited exercise designed to signal operational flexibility — not a philosophical […]

Alcoa Plunges Most In Year After CFO Warns Alumina Unit “Will Be Underwater” Amid Hormuz Disruption Alcoa shares in New York were hammered the most in over a year on Wednesday after CFO Molly Beerman warned investors that the company’s alumina segment faces heavy losses from the energy shock and ongoing disruption at the Hormuz maritime chokepoint. Beerman was blunt with investors while giving a presentation at the Wells Fargo […]