Is A "Vicious" Treasury Market Emergency At Our Doorstep?

Yields Spike As Producer Prices Explode Higher In April After yesterday's hotter than expected CPI (driven in large part by Energy, but seeing some contagion into Services costs), this morning's Producer Price print for April was expected to show a major surge in annual wholesale inflation. With the eight straight monthly increase, PPI rose by a massive 1.4% MoM (vs +0.5% MoM exp) - the biggest MoM jump since March 2022, lifting PPI by a stunning 6.0% YoY (vs 4.8% YoY exp). That is the hottest PPI YoY since Dec 2022... Source:...

Twin Suicide Attacks Rock Algerian City Near Where Pope Is Visiting Algeria has been hit by two terror attacks during Pope Leo XIV's visit, officials say - though at this point there doesn't appear to have been any direct effort at targeting the Pope or his accompanying officials. Twin suicide attacks rocked a city outside Algeria's capital Monday, just as the American-born Pontiff began his historic visit to the country, AFP reports. Pope Leo at the presidential palace in Algiers on Monday, via Vatican Media Handout/EPA "There were two security incidents yesterday afternoon in...

US Africa Command announced on Friday that its forces launched an airstrike in Somalia on February 13 targeting the ISIS affiliate in the northeastern Puntland region, marking at least the 31st US airstrike in the country this year. AFRICOM offered no details on the strike other than saying it was launched about 30 miles southeast […]