What Causes Stagflation?

WTI Extends Gains As Crude Exports Slide, SPR Drain Continues, 'Tank Bottoms' Hit Oil prices spiked overnight to three-week-highs after President Trump said that he thought the Iran cease-fire was “over” amid a volatile 24 hours in the Persian Gulf region. The Trump admin launched a series of strikes on Iran and revoked a waiver that had allowed Iran to sell oil in retaliation for attacks on tankers this week in the Strait of Hormuz. Daniela Hathorn, an analyst at Capital.com, a broker, said that investors had viewed the cease-fire as “fragile...

British Prime Minister Keir Starmer is blocking President Trump from using British Royal Air Force (RAF) bases to launch an attack on Iran, The Telegraph reported on Thursday. The report said that the British government has yet to give consent for the US to use bases in the UK for bombing runs against Iran because […]

Jobs Shock: US Lost 92K Payrolls In February, Far Below Lowest Estimate, As Unemployment Rate Rises In our nonfarm payrolls preview, we quoted JPMorgan's Market Intel desk which said that "for this print, the stronger the better", which by implication means that a poor number would be bad. By that logic, the actual number couldn't be any worse, because moments ago the BLS reported that in February, the US lost 92,000 jobs, a huge drop from the downward revised (of course) 126K in January, and the second worst print since 2020...