Joe Kent Says Demand for Zero Iranian Nuclear Enrichment Is a ‘Poison Pill’ That Killed Pakistan Talks

Vice President JD Vance said in an interview on “The Michael Knowles Show” published on Tuesday that the US would use the Memorandum of Understanding with Iran to “refill” global oil supplies and stockpiles and to prepare for more potential military action against the Islamic Republic. “I think what the president has told us to […]

Beige Book: Economic Activity Picked Up In 11 Of 12 Districts; Only San Fran Flat As "Employers Invested In AI" In a modest support of the Fed's recent hawkish pivot, the latest Beige Book released today notes that economic activity across the US improved moderately, increasing at a slight to moderate pace in eleven of twelve Federal Reserve Districts in late May and June, while one District (San Francisco) reported no change. The pace of growth was ever so slightly better than that reported back in June when activity expanded...

Ugly, Tailing 30Y Auction Sees Foreign Demand Tumble, Dealer "Backtop" Bid Jump After yesterday's stellar 10Y auction, which saw the 5th highest Indirect take down on record, today's reopening of $22BN in 30Y paper (via Cusip UU0) was a mirror image: ugly, poor foreign demand, and tailing. Starting at the top, the auction priced at a high yield of 5.02%, down fractionally from 5.046% last month (which was the first 5% coupon auction in history). And just like last month, today's auction also tailed the When Issued 5.008% by 1.2bps; this...