Iran Conflict Drives Surge In China EV Demand

Trump Talk & 'Thucydides Trap' Threat Triggers Market Mayhem Overnight Traders are waking this morning in the US to some relative market mayhem and questioning what came first - the oil spike or the geopolitical angst - to trigger these moves as it appears the market finally remembered there's more going on in the world than trading 'short compute' demand to the moon... Oil prices are up significantly (WTI >$100)... Bond yields are breaking out everywhere (10Y 4.5%, 30Y UST 5.10%!, 30Y Gilt 5.82% - highest sine 1982)... Equity markets sharply lower overnight...

Teachers Unions Spent More Than $930 Million On Political Activism & Lobbying Over Decade, Watchdog Finds Authored by AG News Staff via American Greatness,Two of America's largest teachers unions spent more than $930 million on political activism, lobbying and progressive advocacy over the past decade, raising questions about how union dues are being used beyond traditional education priorities.According to investigations by the North American Values Institute (NAVI), the National Education Association (NEA) spent at least $547 million on political activities and advocacy between fiscal years 2016 and 2025.The spending included...

Solid 5Y Auction Despite 12th Consecutive Tail, Thanks To Stellar Foreign Demand After a mediocre 2Y auction on Tuesday, moments ago the Treasury sold the week's second coupon auction when it auctioned off $70BN in 5Y paper to solid demand, some superficial weakness notwithstanding.  The auction stopped at a high yield of 4.182%, up from 3.955% in April and the highest yield since Jan 2025. The auction also tailed the 4.181% When Issued by 0.1bp, which was the 12th consecutive tailing auction for the tenor, the longest stretch on record. The bid...