The US May Have Shot Down a Small Hobby Balloon With a Sidewinder Missile

The 'Blame Game' In Private Credit Begins Submitted by QTR's Fringe Finance This morning I warned (again) this wasn’t a normal market in private credit. It was a liquidity event. And today it’s becoming something else too. According to the Financial Times, the SEC is now questioning whether Egan-Jones, a small but deeply embedded credit rating agency in private credit, can “consistently produce credit ratings with integrity.” That’s not a routine inquiry. That’s the regulator openly wondering whether one of the key cogs in the machine was ever doing its job properly in the first place....

Oil Spikes To Session High As Iraq Starts Shutting Output At Massive Oil Field Here are the most critical developments unfolding in the US-Iran conflict:  Iraq's crude oil output is being significantly curtailed. An update from Iraq specifies a shutdown of 460,000 bpd at West Qurna 2 and a cut of 700,000 bpd at Rumaila, while warning that more than 3 million bpd could be forced offline in the coming days if tanker access remains limited. Export crude bottlenecks are developing across Iraq. Storage at southern export terminals is nearing critical capacity...

Bahrain is in revolution. Since February 28 — the day US and Israeli strikes ignited the region — Saudi armour is said to be rolling in to crush it. You will not see this on CNN. For three decades Washington told you the missiles are for the people (we have to commit mass murder to […]