US Has No Plan To Renew Iranian, Russian Oil Waivers, Bessent Says

As was reported yesterday, Lebanese troops entered the Lebanese town of Zawtar al-Gharbiyeh as part of the agreed upon “pilot zone” program with Israel and the United States. This program was to see Lebanese military forces take over a handful of municipalities in southern Lebanon, some of which were previously under Israeli occupation. Shortly after […]

"Early Signs Of A Turn In US Consumer Discretionary," UBS Says Brent crude futures tumbled below the $80-per-barrel level earlier this morning for the first time since March as traders priced in the U.S.-Iran peace deal and the expected reopening of the Strait of Hormuz maritime chokepoint on Friday. Goldman Sachs and RBC Capital Markets both slashed their fourth-quarter Brent crude forecasts, reinforcing the view that the war-risk premium is rapidly deflating. If oil has peaked, then inflation pressures may have peaked as well, a positive setup that could provide some...

The Weak Dollar Narrative Authored by Lance Roberts via RealInvestmentAdvice.com, We have spent a lot of time over the last year debunking “narratives,” which are dangerous to investors, as “narratives” create a rationalization for overpaying for assets. Nonetheless, Wall Street loves a simple story and is happy to jump on a trend with momentum, selling products to unwitting consumers. A good example of that lately has been the “weak dollar” narrative, which has pushed investors to chase foreign assets. The negative correlation between a weak dollar and rising international stock exposure appears to be a free return. Unsurprisingly, the...