Iran Allows Iraqi Ships To Use Strait Of Hormuz As Total Weekly Transits Reach HIghest Since War Began

B200s Or B-2s? By Bas van Geffen, senior macro strategist of Rabobank Concerns about the Middle East continued to dictate markets yesterday. The Strait of Hormuz remains closed, and there were no signs that this will change soon. Oil prices rose further. Dated Brent jumped 5% on the day to top $111. Alongside the rise in benchmark energy prices, yields increased too. 10y US Treasury yields closed around 5bp higher, and 10y German Bund yields rose 6bp to 3.1%, dragging broader EUR yields up. Equities struggled. European bourses closed around 1.5% lower,...

The notion that AI can take over an economy is fantasy. A market economy is not made up of competing algorithms but rather sets of prices that lead to discovery.

All's Not So Quiet On Any Front Authored by James Howard Kunstler, Project Freedom. Cute move! Notice that it’s not Operation Freedom. That would frame it as a military move. The President is tactically framing this as a humanitarian action. Mr. Trump has advised Congress as of May 1 that hostilities with Iran (Operation Epic Fury) are terminated, at the 60-day limit of the War Powers Resolution. Commercial ships from countries not involved in the Iran / US dispute will now get escorted safely through the Strait of Hormuz by US naval vessels. (Later...