Non-Intervention Without the Fairy Tale of Sovereignty

According to US intelligence, Iran is quickly restoring missile bunkers and silos after being struck by American and Israeli bombs, and retains close to half their missile launchers along with thousands of drones. Per US Central Command, the US has struck 12,300 targets in Iran since the start of Operation Epic Fury. One of the […]

Container Ship Sinks In Hormuz After Iranian Strike Last Month; UBS Gives Latest Strait Update The Egyptian-owned, Maltese-flagged container ship Safeen Prestige (IMO: 9593517), which was damaged in the first week of the U.S.-Iran conflict following an Iranian strike, has reportedly sunk in the Strait of Hormuz. According to Bloomberg, Pakistan's hydrographic service said the container ship sank last week, leaving only an oil slick on the surface of the water in the Hormuz chokepoint. The IRGC torched the SAFEEN PRESTIGE in the Strait of Hormuz and continues to reignite the fire. Now...

"Resilient" US Manufacturing Sector Surges In Face Of War, Prices Paid Up Amid the fog of war and fading 'hard' data, the final March S&P Global Manufacturing PMI printed 52.3 (a small drop from the flash 52.4 print), higher than the 51.8 print for February. “Faster growth of output in March points to encouraging resilience for US manufacturing in the face of the outbreak of war in the Middle East," according to Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. The ISM Manufacturing PMI also rose from 52.4 to 52.7 -...