The Market Is Grappling With Two Major Unknowns

North Korea Rips Fresh Western Criticism Of Expanding Moscow Relationship North Korea fired back on Saturday and lashed out at the Washington-Seoul alliance, tearing into a fresh South Korea-EU joint statement that condemned Pyongyang's deepening military alliance with Russia. North Korea has increasingly over the past acknowledge a significant number of troops sacrificed in support of Russia and in the context of the brutal and grinding Ukraine war. The Western-aligned statement, inked Wednesday during South Korean President Lee Jae Myung's high-profile trip to Brussels, took direct aim at the "illegal military cooperation"...

Sign(s) Here, Here, And Here By Michael Every, global strategist at Rabobank After pricing in nearly 40 pronouncements of US victory since early April, markets have naturally embraced a US-Iran ‘deal’ now e-signed --with a thumbs up emoji?-- so all that’s left is a ceremony to mark the event on Friday. That and the details of what was signed, which are still lacking from the US. In their absence, we get more polymetis spin from both sides. Iran is saying they got everything they wanted, and there are signs of that. Weeks...

$5 Diesel Means A 35% Jump In Prices For US Consumers While US gasoline prices have risen substantially since the start of the Iran war (although RBOB futures suggest there is much more upside should oil prices remain around $100), the average price of diesel has already soared above $5 per gallon in the US, the highest since 2022, and pushing up supply chain costs and setting the stage for broader inflation for consumers. The price spike is increasing costs for farmers, truckers and construction firms. With diesel at $5 per gallon,...