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Services Sector Contraction In March Screams Q1 Stagflation
Services Sector Contraction In March Screams Q1 Stagflation
Following S&P Global's Manufacturing PMI's better than expected print higher (signaling resilience in the face of March's war in Iran), the data released this morning showed the US Services Sector experienced a contraction of activity at the end of the first quarter of 2026.
The headline S&P Global US Services PMI Business Activity Index recorded 49.8 in March, down from February’s 51.7 and lower than the earlier ‘flash’ estimate of 51.1.
It was the first decline recorded in over three years amid the weakest...
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Apr 1, 2026 / Tyler Durden
John Mearsheimer Asks: Will Trump Go Kamikaze?
John Mearsheimer Asks: Will Trump Go Kamikaze?
Authored by John Mearsheimer
There is much talk about President Trump preparing to launch a ground attack against Iran. In the media discourse, much is made of the fact we have about 50,000 troops in the region. See for example these three articles.
One might think those are all combat troops and we therefore have roughly three combat divisions available to invade Iran. But that is not true.
Until recently, there were about 40,000 US troops in the region, which were mainly a mixture of Air Force,...
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Apr 21, 2026 / Kyle Anzalone
Report: US Used Over Half of Its Advanced Missile Interceptors During Iran War
A report by the Washington-based think tank Center for Strategic and International Studies (CSIS) found that the US depleted half of its missile interceptors. According to CSIS, the US military had 2,330 Patriot interceptors before the conflict, and used an estimated 1,430 missiles. A similar trend followed for THAAD, SM-3, and SM-6 interceptors. The US […]
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Jul 1, 2026 / Tyler Durden
These Are The Biggest Pain Trades
These Are The Biggest Pain Trades
Last week saw renewed skepticism in the AI narrative, this week there is growing skepticism to the semiconductor narrative. A multitude of reasons from leveraged single-stock ETFs to a too hawkish Fed were apparent in explaining renewed Tech weakness. Indeed, despite Micron’s post earnings rally, which has now fully faded, much of the broader tech sector did not bounce back as might have been expected.
In a note laying out the biggest pain trades in the market currently, titled appropriately "The Biggest Pain Trades" (available...
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