How the Jacksonians Caused America’s Industrial Revolution

"Stunning Quarter": Highest Earnings Growth In Over Two Decades Yesterday, Deutsche Bank's head of thematic research published his latest chartbook, "The Great 2026 Reset," which delves into the market and political implications of the Iran conflict (available here to pro subs). One key topic explored by Reid is the remarkable US Q1 earnings season. As we previewed ahead of the start of reporting seasons, earnings are significantly exceeding consensus estimates across all metrics, despite a high bar. S&P 500 earnings growth is projected to accelerate sharply from 13.4% in Q4 to...

"This May Be Iran's First Misstep - And Proof Leverage Isn't Total" Brent and WTI futures extended declines on Tuesday morning as momentum continued toward an end to the US-Iran conflict. The latest signs of de-escalation include a U.S. waiver allowing some crude and fuel sales from Iran, while Tehran said $12 billion in frozen funds had been released as part of ongoing talks with U.S. negotiators. Both sides have signaled progress so far this week, further eroding the war premium in crude markets as traders begin to price in...

Defiant Iranian FM Says Regime Change Will Be 'Mission Impossible' There have been more US and Israeli strikes on Tehran into the afternoon and evening hours local time, suggesting that the aerial operation will be sustained, at least for the time being. There have been rumors flying all day that Ayatollah Ali Khamenei has been killed, which Iranian officials have firmly denied. Many analysts believe that full regime change in Iran cannot happen unless there are US forces on the ground, and this prospect would be immensely unpopular among the American...