UAE Unveils Jet-Powered Kamikaze Drone As War Gets A Lot Scarier

Jobs 'AI'pocalypse No! Initial Jobless Claims Hover Near Record Lows The number of Americans filing for unemployment benefits for the first time dropped to 203k last week The first time initial jobless claims hit this level was in May 2022. New York and Illinois saw the largest rise in initial claims while California and New Jersey saw the biggest declines... Continuing jobless claims also dropped, holding below the 1.8 million Americans Maginot Line... Another week, another confirmation that the 'low hire, no fire' economy remains the driving force and the Jobs AIpocalypse remains absent...

The US war with Iran has moved beyond its initial phase to an emerging new one — one in which Iran implicitly stakes its chances on the next phase being war. Most likely this will be in abbreviated episodes of limited war, but possessing nevertheless a potential to widen regionally, should the US (and Israel) […]

Speaking Loudly And Leaning On A Big Schtick By Michael Every of Rabobank Yesterday saw the regular schtick where the Middle East situation remains worrying, but markets reacted to more positive narratives. After four crew and two rescuers were killed in a Houthi Red Sea attack on a ship and the US struck another in the Gulf of Oman’ trying to break its Iran blockade; Iran said Hormuz will stay closed unless the US meets its over-reach conditions; Trump doubled down on economic warfare vs Tehran because he thinks it’s “bleeding...