Iran’s IRGC Seizes Two Ships in the Strait of Hormuz

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...

Italian Prime Minister Giorgia Meloni said that Rome would not renew its defense pact with Tel Aviv. Israeli Foreign Minister Gideon Sa’ar downplayed the decision. Italy “has decided to suspend the automatic renewal of the defense agreement with Israel in consideration of the current situation,” Meloni told reporters at an event on Tuesday. Rome’s defense […]

Waste Of The Day: Education Fraud Sweeps Nation Authored by Jeremy Portnoy via RealClearInvestigations, Topline: Since 2019, school districts across 24 states and Puerto Rico have lost $225 million to fraud confirmed by the U.S. Department of Education inspector general's semiannual report to Congress. No more than $67 million has been recovered. Key facts: Open the Books and the State Financial Officers Foundation documented 74 instances of confirmed school fraud, averaging over $3 million each. There are far more that have gone unprosecuted or undetected. Florida and Illinois schools each had the most...