Stuck in Another Disastrous Middle East War

A Bumpy Ride Via Rabobank, Following the slightly hotter US CPI print on Wednesday – headline inflation was in line with expectations, but core accelerated a bit more than anticipated - producer price inflation accelerated significantly more than expected. Last month, US producer prices rose 1.3% m/m. Yet, rates were down on the day, not up. Maybe traders found some comfort in the fact that most of the inflationary pressure remains concentrated in energy prices. Or, perhaps, the PPI print underscored the pressure on US producers. If they are unable to pass...

“This Is the midnight – let no star“Delude us – dawn is very far.“This is the tempest long foretold“Slow to make head but sure to hold.” Rudyard Kipling, England’s greatest poet of Empire, who then became the unwilling prophet and witness of that empire’s catastrophe and coming dissolution, published that frightening warning in 1932, the […]

Fed Chair Nominee Kevin Warsh Reveals Assets Worth Over $190 Million Trump's nominee for next Fed Chair, Kevin Warsh, disclosed assets with his wife, heiress Jane Lauder, that total at least $192 million, though - according to Bloomberg - "the actual figure for their holdings is certainly much higher", underscoring the extent of his close ties to Wall Street through personal investments and advisory positions. Warsh, who was chosen in January by President Donald Trump to succeed Jay Powell, received more than $13 million in consulting fees last year, including $10.2...