Trump’s Total 2027 National Security Spending Will Exceed $2.5 Trillion

The lad who inspired Aesop to write, “The Boy Who Cried Wolf” (also known as “The Shepherd Boy and the Wolf”), has grown up and is now President of the United States. Since February 28, 2026, Donald Trump has released 11 statements suggesting the war with Iran was over or that a negotiated deal is […]

Tailing 10Y Auction Prices At Highest Yield Since 2007 When discussing yesterday's stellar 3Y auction, we said that the impressive demand for 3 year paper indicated that nobody was worried about today's CPI print... and as we learned this morning, that was justified, since the CPI came in right as expected. And since inflation is tame, and the labor market is not overheating, virtually nobody were worried that today's 10Y auction would have any issues finding new holders. Well, they were right: moments ago the US sold $42 billion in...

Green Steel: ArcelorMittal Finally Pulls The Plug Submitted by Thomas Kolbe In the end, economic reality prevails. Green steel has no future in Germany, regardless of how much funding may continue to flow through the channels of the green subsidy machine: At Germany’s overregulated, energy-policy-driven and increasingly sidelined industrial location, industrial production is becoming less and less profitable. That ArcelorMittal, one of the green economy’s poster boys, threw in the towel at the end of the week and announced that it would end steel production at its Duisburg site is the latest...