Biden versus Bastiat

A historic metals shakeout, a simple “stacking plan,” and a bigger question: how do you stay independent when the system punishes savers?

Trump Blinks Again, Unilaterally Extends Iran Ceasefire After Pakistan Talks Fail To Launch Summary Trump unilaterally extends ceasefire after Vance calls off trip to Pakistan - says Iranian port blockade to remain in place. Tasnim says Iran's 'final decision' is to not attend talks. Trump warns: 'Expect...bombs' & urges Tehran "release women" said to be on death row. Overnight, US forces conducted a right-of-visit, maritime interdiction and boarding of the stateless sanctioned M/T Tifani in Indo-Pac region: CENTCOM As just 12 ships have gone through Hormuz Strait in last 24 hours, Iran claims one...

Medicore 30Y Auction Has First Tail Since November After a solid 3Y auction and a tepid 10Y auction earlier this week, moments ago the Treasury concluded the final coupon auction of the week, when it sold $22 billion in a 30 year reopening in what was another average auction. The sale stopped at a high yield of 4.876%, virtually unchanged from 4.871% a month ago and the highest since last July. It also tailed the When Issued 4.871% by 0.5bps, the first tail since November. The bid to cover was 2.385,...