Biden versus Bastiat

Stellar 3Y Auction: 2nd Most Foreign Buyers On Record, Highest Stop Through Since Feb 2025 After several weeks of decidedly ugly auction which saw a notable drop in foreign demand amid what we reported a week ago was rampant selling of US debt by foreign central banks, moments ago the Treasury sold 3Y notes in what may have been the best auction since the start of the war. Just after 1pm, the US treasury sold $58BN in 3Y notes at a high yield of 3.897%, up sharply from 3.579% a month...

The New York Times reported on Monday that the five-week US-Israeli bombing campaign against Iran “has left a more hardened, resilient adversary” as the Iranian military is preparing to face renewed airstrikes. The report, which cited an unnamed US military official, said that Iran has used the ceasefire to “dig out scores of bombed ballistic […]