Oil Unimpressed As Trump Says 'Iran Asked For Ceasefire', Threatens Blasting Them "Back To The Stone Ages" If Strait Unopened

UMich Sentiment Rebounds From 46-Year Record Low In June, Inflation Fears Fade Further Having rebounded from record (46 year) lows in preliminary June data, University of Michigan's final June Sentiment survey was expected to show further improvement as gas prices have fallen since the US-Iran 'peace' MoU signing. And it did with the headline index rising from 48.9 flash and 44.8 prior to 49.5 (but that was below the 50.0 expectation)... Both Current Conditions and the Expectations Index also rebounded with the former outperforming... Consumer sentiment confirmed its early-month reading, rising about 10%...

A growing number of Israeli strikes on Lebanon has led to death tolls once again on the rise, despite what is notionally a ceasefire in place between the two countries. The UNIFIL peacekeepers documented 1,296 Israeli military strikes in the past 72 hours. This left at least 87 people killed over the weekend in over […]

Trump's "Sock Puppet" By Philip Marey of Rabobank Summary The confirmation hearing of Fed Chair nominee Kevin Warsh by the Senate Banking Committee was a very partisan affair. In his prepared remarks, Warsh stressed that monetary policy independence is essential, but he does not believe that the operational independence of monetary policy is particularly threatened when elected officials state their views on interest rates. Warsh thinks the Fed must stay in its lane and avoid straying into fiscal and social policies. Warsh was walking a tightrope between convincing the Senate Banking Committee that he...