The Horrifying Endgame in Ukraine

Terrible 5Y Auction: Worst Bid To Cover In 4 Years, Highest Tail Since 2024, Dealers Jump Another day, another very ugly auction. After yesterday's appallingly bad 2Y auction, moments ago the Treasury sold $70BN in 5Y paper in what was another terrible auction. Just after 1pm, the auction stopped at a high yield of 3.966%, up from 3.608% in February and the highest since May 2025. It also tailed the When Issued 3.966% by 1.4bps, the biggest tail since Oct 2024. The bid to cover was 2.29, down from 2.32 last month and...

President Donald Trump may send special operations forces to Iran to seize the Islamic Republic’s nuclear material.  According to three diplomatic sources speaking with Bloomberg, the President is considering using special operations forces in Iran to gain control over Tehran’s roughly 400 kilograms of 60% enriched uranium.  “They haven’t been able to get to it […]

Americans Are Becoming More And More Interested In Buying Chinese EVs As electric vehicle (EV) adoption grows in the United States, a segment of American consumers is increasingly drawn to Chinese-made models—largely due to their affordability, advanced technology, and feature-rich designs. However, steep trade barriers and political resistance continue to keep these vehicles out of the U.S. market, according to Reuters.  With the average price of a new car in the U.S. մոտ $50,000, Chinese EVs—many of which sell for under $30,000 in international markets—are gaining attention for offering strong value....