Sunday: RAGE Against the War Machine in San Francisco

Supreme Court Tariff "Bomb"? Fears Of A $200 Billion Refund Shock Are Overdone Authored by Daniel Lacalle, The market consensus reaction to the Supreme Court ruling on the Liberation Day tariffs exaggerates the negatives and ignores the options of the Trump administration. Markets are overreacting to headlines about a $175–200 billion tariff refund financial hole. However, the Supreme Court ruling opens a long, narrow, and manageable process, not an imminent fiscal crisis. In the days after the Supreme Court struck down the Trump Liberation Day tariffs, many sell-side analysts turned a complex legal...

The Omani Foreign Minister said that significant progress was made during talks between the US and Iran on Thursday.  “We have finished the day after significant progress in the negotiation between the United States and Iran,” Omani Foreign Minister Badr Albusaidi wrote on X. “We will resume soon after consultation in the respective capitals. Discussions […]

Wall Street Reacts To "Neutral" Fed Hold The digital ink on  the Fed statement is still wet and the kneejerk reactions are already flying. Here is a small sample of the more notable ones, with opinions ranging from this was a dovish, neutral and hawkish statement. So right in the middle, perhaps as Powell intended: George Goncalves, MUFG: "this is a “neutral” statement from the FOMC.The statement tweaks are an attempt at trying to avoid sending any signals while conveying they are on guard for any growth shocks and inflation spillover...