Yes, the Latest Bank Bailout Is Really a Bailout, and You Are Paying for It.

Watch: Vance Pledges Probe Into Epstein 'Pizza' And 'Grape Soda' References Authored by Steve Watson via Modernity.news, Vice President JD Vance has publicly committed to investigating references in the Jeffrey Epstein files that he says evoked the Pizzagate conspiracy theory, citing emails mentioning “pizzas or grape sodas” in odd contexts. His remarks come as Acting Attorney General Todd Blanche doubled down on the Department of Justice’s position that every relevant document has already been released, leaving critics to question whether the full truth about Epstein’s network will ever see daylight. In remarks at...

Tailing 7Y Auction Sees Lukewarm Foreign Demand, Jump In Direct Buyers The week's final coupon auction per the truncated pre-FOMC schedule has come and gone, and like yesterday's 2Y and 5Y, was also mediocre at best. The sale of $44BN in 7Y paper stopped at a high yield of 4.175%, down from 4.255% in March; and like the week's previous auctions, the 7Y also tailed the 4.170% When Issued by 0.5bps, which makes it 4 auctions that have not stopped through in a row. The bid to cover was better, rising to...