Gabbard Rescinds Intelligence Committee Reports On Mysterious Syndrome Authored by Zachary Stieber via The Epoch Times, Outgoing Director of National Intelligence Tulsi Gabbard has retracted intelligence community reports on mysterious health problems known as Havana Syndrome, according to a memorandum released on June 11. Gabbard found that the intelligence community assessments of the anomalous health incidents, released in […]

Democrats Divided On Platner As GOP Reportedly Has Opposition Research That Will Destroy Him Graham Platner may have easily won Maine’s Democratic Senate primary Tuesday, but his own party is already trying to figure out how to get rid of him. Democrats openly admit they cannot afford to lose this race if they want to retake the Senate, and Platner is already complicating their plans. Yet, the chaos involving Platner may have only […]

Mother Of All ‘Ifs’: Trump Officials Claim Iran Deal Delivers Peace, Inspections & Hormuz Reopening; Iran Says Indeed ‘Close’ Summary The UAE had agreed to release a total of $10b, more than $3b of which had already been delivered (Reuters). Bloomberg latest: US Senior admin officials says Iran deal accomplishes core US objectives and deal reopens Strait of Hormuz; Iran deal guarantees long-term peace in region and includes […]

Ministry Of Truth: UK Government To Block ‘False Information’ During ‘Crisis Events’ Authored by Steve Watson via modernity, Vague new rules will allow UK regulators to pressure platforms over “legal but harmful” content whenever government ministers declare a crisis, while the same government ploughs ahead with mandatory phone scanning, digital ID lockdowns, and jail threats for tech bosses who refuse to spy on every device. […]

UBS Finds Global Trade Structure “Surprisingly Stable” As AI Emerges As Growth Engine Despite ongoing Gulf-related energy shocks, mounting concerns over a potential energy cliff (read here), and UBS last month reactivating its supply chain stress-watch coverage, another UBS analyst noted Wednesday that the overall structure of global trade remains “surprisingly stable.” Analyst Arend Kapteyn pointed out that the structure of global […]

The K-Shaped Economy: Why The Middle Class Moved Up Authored by Lance Roberts via RealInvestmentAdvice.com, The K-shaped economy has become shorthand for a tidy story. The rich pull away while everyone else falls behind. It fits the mood, and it makes for a sharp headline. The problem is that it’s mostly wrong. When you pull the actual Census data, the dominant move of the last half-century isn’t down. It’s up. Yes, the […]

Banks Curb FOMO-Chasing Levered Bets On Korean Tech Firms SK Hynix has been THE poster-child for ‘Vol Up, Spot Up’ FOMO-chasing over the past few months of exuberant semi-shortage panic-buying… And volumes in levered Semi trades has been astronomical… With SK Hynix standing out among the most-levered bets… Driven by massive speculative momentum (margin loans at record highs)… …which faced huge forced […]

Kuwait Joins “Dark-Mode” Tanker Traffic Through Hormuz By Tsvetana Paraskova of OilPrice.com Kuwait appears to have joined a growing bunch of Middle Eastern oil and gas producers that have moved to ship energy cargoes in dark mode through the Strait of Hormuz. The liquefied petroleum gas (LPG) carrier Gas Umm Al Rowaisat, which is owned by the national Kuwait Petroleum Corporation, has passed through the Strait in recent days, […]

Blackrock’s Private Credit Fund Gates Investors Again After Redemption Requests Surge The market may be in full-blown face-ripping bubble mode, and software stocks are now gripped in by a category 5 gamma squeeze hurricane, but not even that is helping the ongoing debacle that is private credit. One week after Cliffwater’s Private Credit fund gated investors for a second straight quarter, and days after Blackstone also gated […]

Musk Becomes Earth’s First Trillionaire As Blockbuster SpaceX IPO Opens At $150 Summary:  Musk Becomes A Trillionaire  SpaceX IPO Opens Up $150, above $135 IPO price SpaceX IPO Shares To Trade 29% Higher Than IPO Price  Liftoff: SpaceX Gray-Market Trading Signals 35% IPO Pop Incidentally, this is where Polymarket predicted the stock would open ahead of the first indications: POLYMARKET PROJECTS $174 OPENING […]

US Pulling Large Chunk Of Jets, Refueling Tankers From NATO Defense, Realigning Further East In a move that surprises absolutely no one paying attention, the United States is planning to significantly slash the number of fighter jets and warships it feeds into the NATO machine in Europe, the New York Times reported Thursday. The reported cutbacks hit right as panicked European nations scramble to patch up their own defense […]

Gas Prices Fall For 3rd Straight Week Authored by Naveen Athrappully via The Epoch Times, The national average price for a gallon of regular gasoline declined for three consecutive weeks, dropping from $4.56 per gallon on May 21 to $4.12 per gallon on Thursday. Lower gasoline prices are “delivering some relief to drivers during the busy summer travel season,” the American Automobile Association (AAA) said in a June 11 […]

“Reckless Propaganda”: Globe And Mail Op-Ed Tells Readers “How To Properly Hate” Elon Musk Ahead Of SpaceX IPO Whether it is Elizabeth Warren, left-leaning unions, or Democrat-aligned NGOs funded by dark money, the common pattern here has been an information campaign aimed at Elon Musk to derail the SpaceX IPO. Their motives are very simple: if the game is about power and money, then Musk potentially becoming the world’s first […]

National Mall Vandalized With ‘8647’ Markings Ahead Of Independence Celebrations Authored by Kimberley Hayek via The Epoch Times, U.S. Park Police and federal officials opened an investigation Thursday after a sizable marking resembling “8647” was etched into the lawn of the National Mall. The incident occurred amid preparations for major events celebrating the nation’s 250th anniversary of independence. A Reuters […]

UMich Sentiment Bounces Off Record Low In June, Inflation Fears Fade After reaching all-time record lows in May, analysts expected UMich’s Sentiment index to rebound modestly in preliminary June data and it did, up from 44.8 to 48.9 (well above 46.0 exp), with consumers experiencing some relief due to the early-month easing in gasoline prices. Source: Bloomberg “This measured improvement in sentiment was widespread, seen across […]

Kennedy Center Appeals Order Requiring Removal Of Trump’s Name Via American Greatness, The Kennedy Center’s board of trustees voted Thursday to challenge a federal judge’s order requiring President Donald Trump’s name to be removed from the performing arts center. According to court filings, the board formally appealed US District Judge Christopher Cooper’s ruling just before the court-imposed deadline for removing […]

Fool Me Once? Shame On You. Fool Me 39 Times…? By Molly Schwartz, cross-asset macro strategist at Rabobank After several days of strikes against Iran, and several morning announcements that strikes were set to continue, Trump announced via Truth Social that the “scheduled strikes and bombings against Iran” have been cancelled as a peace deal has been agreed upon. Indeed, “discussions and final points have been, in both […]

Clinton-Appointed Federal Judge Bars Texas AG Paxton’s Lawsuit Against ActBlue Authored by Kimberley Hayek via The Epoch Times, A federal judge has barred Texas Attorney General Ken Paxton from pursuing his state court lawsuit against ActBlue, a major Democratic online fundraising platform. President Clinton-appointed U.S. District Judge Richard Stearns ruled Thursday that the case represented no more than a retaliation campaign […]

DOJ Probes Big Banks For Alleged “Debanking” Of Clients The US Dept of Justice is intensifying scrutiny of some of the country’s largest financial institutions over allegations that customers were denied banking services, or “debanked” for political or ideological reasons, according to the Wall Street Journal. The US Attorney’s Office for the District of Columbia, led by Jeanine Pirro, has reportedly issued subpoenas to several […]

Futures Rally Amid Fresh Iran Peace Hopes, All Eyes On SpaceX US stock futures and global markets are higher, extending their rally while oil hit the lowest level in months following fresh reports that the US and Iran are nearing a provisional agreement to end their war, even if top leadership has yet to sign off. Meanwhile, all eyes are on SpaceX – the world’s biggest IPO- where shadow markets are pricing a spike of at least 35% […]

“Resetting Business”: Xbox Layoffs Loom As New CEO Supercharges Overhaul Microsoft’s Xbox gaming division is preparing for a major round of job cuts at the end of the month as new Xbox CEO Asha Sharma moves to “reset” the unit amid a confluence of negative and worsening pressures, including shrinking revenue, soft hardware sales, plateauing Game Pass momentum, and what management now describes as an ongoing “hardware component […]

China Is Learning To Use Less Oil, And That’s A Bigger Deal Than It Sounds By Julianne Geiger of OilPrice.com Three months into the biggest oil supply disruption in modern history, China appears to have discovered something that should make oil bulls at least a little uncomfortable. It can get by on less fuel than anyone thought. China’s gasoline and diesel demand has been falling for years as electric vehicles gained market […]

BofA Sees “Runaway Price Risk” In Spot Sulfur As Global Supply Chain Freezes Sulfur is a critical industrial input produced as a byproduct of oil refining and natural gas processing. With roughly half of the world’s seaborne sulfur trade trapped behind the Hormuz maritime chokepoint, another 15% stuck in Kazakhstan due to export-logistics blockades, and demand destruction still insufficient across global markets, Bank of America […]

Traders Are Shorting Oil As If The Hormuz Crisis Is Over Authored by Tsvetana Paraskova via OilPrice.com, Oil traders are increasingly betting on lower prices, with short positions in Brent crude tripling since late March despite the loss of roughly 13 million bpd of supply from the Middle East. Physical market fundamentals are tightening rapidly, as global inventories have fallen by about 250 million barrels and key storage […]

SpaceX Prices Biggest Ever IPO At $135 Per Share While there was little doubt as to SpaceX’s actual IPO price, which due to its novel structure was always going to be $135, and unlike the proposed IPO price ranges as is customary for other initial offerings, moments ago SpaceX (SPCX) made it official when it filed a free writing prospectus (FWP) which confirmed the company sold 555.6 million shares at $135 each, for a total size of […]