In Charts: US Does Not Rely On Strait Of Hormuz Oil While Asia Stands To Lose

Key Events This Week: FOMC Minutes, PMIs, Industrial Data; WalMart And Home Depot Earnings While global equity indices are at or close to all-time highs, DB's Peter Sidorov writes that we’re seeing more challenging August crosswinds playing out in bond markets. Expectations for an imminent Fed rate hike have been pulled back, but this has been accompanied by a significant US curve steepening, with the backdrop of higher oil prices, elevated fiscal deficits, and demand for capital from the AI investment boom putting upward pressure on yields. The resulting long-end...

Despite support from some economists in the free market camp, fractional reserve free banking is doomed for failure, as Murray Rothbard pointed out.

Ukrainian Expert Dismisses Trump Pledge On Patriot Missile License As Empty PR President Trump's declaration from the NATO summit in Turkey this week saying that he'll give Ukraine a license to produce Patriot defense systems has been met with a lot of skepticism, both among Ukrainians and internationally.  "We’ll give them the right to make Patriots. We’ll show them how to do it," Trump had said. "I think they can produce them pretty quickly." via Associated Press Zelensky seized on the opening, telling reports on Thursday, "America has recognized Ukraine as a country...