Israel Expects Iran War To Continue At Least Into April, Lebanon Conflict Longer

US Consumer Prices Are Rising At Their Fastest Pace In 3 Years Bearing in mind the one-off impact of BLS correcting for shutdown-related distortions (in rent/shelter) from last October., this morning's CPI was expected to come in hot as the impact of the Iran war starts to spread (energy, airfares, transport) and the melt-up in memory costs (unrelated to war) as the token wars continue. As a reminder, March saw headline CPI in line (energy) while Core CPI actually printed cooler than expected. and we suspect most attention will be on the...

Hormuz And The Law Of Diminishing Returns: When Leverage Burns Authored by Tamuz Itai via The Epoch Times, For months, the assumption that the Strait of Hormuz was Tehran's ultimate card dominated commentary on the war. Vessels are seen in the Strait of Hormuz, off the port city of Bandar Abbas in southern Iran on Aug. 10, 2026. Atta Kenare/AFP via Getty Images As a narrow waterway through which roughly one-fifth of the world's oil and a substantial share of liquefied natural gas had historically passed, it appeared to be a chokepoint Iran...

Futures Flat As Yields Ignore Oil Meltup Futures are flats with Tech in line and small caps lagging even as bond yields dip 1bp across the curve, ignoring the continued rise in oil. In a quiet session ahead of tomorrow's jobs report, Japan remains the standout, with the yen strengthening on more hawkish BOJ repricing and intervention speculation, pressuring exporters.  Risk is modestly bid after yesterday’s reprieve in energy and rates (although Korean memory has faded again and only buybacks prop up the Korean market with retail now puking daily). As of...