The Great Retreat: Beijing's Digital Currency Ambitions Are Faltering

US Core Durable Goods Orders Surge For 11th Straight Month After recent string 'soft' survey data, this morning we get some 'hard' data and it's mixed...ish... Preliminary headline durable goods orders for February fell 1.4% MoM (worse than the -1.2% MoM exp). That is the third monthly decline in a row (the first 3-month decline since Nov 2019) Source: Bloomberg The monthly decline of the headline print largely reflected a decline in orders for aircraft. Boeing said it received fewer orders for its planes in February than a month earlier. On the other hand, core durable...

Iran Rejects US Proposed Ceasefire, Won't Be 'Fooled Again' As Attacks Continue With US Troops En Route Summary Iran Does Not Accept Ceasefire, Says US Talks Illogical: Fars. The statement says that talks are not viable in current conditions, oil jumps. 3,000 elite Army Airborne soldiers & Marines still en route after Trump said Monday says Iran has been destroyed "militarily".  Iran is tightening control of Hormuz, demanding detailed ship data and in some cases fees for passage Iran continues to say it is ready for long war, monitors US troop movements: Parliament Speaker says "Do not...

Paxton Crushes Cornyn In Stunning Texas Senate Upset In a brutal repudiation of the GOP old guard, Texas Attorney General Ken Paxton crushed four-term incumbent Sen. John Cornyn in the Republican Senate runoff Tuesday night, winning by a commanding margin of roughly 63% to 37%. The victory marks one of the biggest primary upsets in modern Texas political history. Cornyn, a powerful Senate insider and former Majority Whip, was unceremoniously dumped by his own party’s voters after more than two decades in Washington. Paxton, the hard-charging conservative known for his fierce battles...