Iran Announces Fuel Rationing As Brent Tops War Highs, After Trump Rejects Tehran's Latest Offer

Terrible 2Y Auction: Biggest Tail In 3 Years, Dealers Highest Since 2022 With both foreign and domestic investors dumping gold (and anything else not nailed down) to fund oil, at its brand sparkling new price of $170 (in Asia), we were wondering how long before the lack of disposable cash hits US debt. We got the answer today at just after 1pm when we got the results of today's $69 billion 2Year bond auction. In a nutshell, it was terrible. The auction priced at a high yield of 3.936%, up from...

Gold Vs An Erupting Financial Volcano Authored by Matthew Piepenburg via VonGreyerz.gold, Below, we look soberly at the historical case of gold in the backdrop of current headlines and a global financial system nearing an eruption moment.  Although the catalysts of oil, war, bond dysfunction, and bloated stocks may seem modern and unique, the current case for gold is as timeless and constant as nature itself. Volcanic Parallels… In May of 1980, David Alexander Johnston, a volcanologist for the United States Geological Survey, was manning an observation post 10 kilometers from the percolating volcano...

Despite Record Low Sentiment, US Retail Sales See Strongest Annual Gain In 8 Months After a big jump in March, retail sales likely cooled in April, according to BofA's almost omniscient forecast as they see spending on gasoline providing a smaller boost and auto sales moderating, after an early Easter pulled forward some seasonal demand into March. The “holiday shift” dynamic also may have contributed to softer activity after Easter. However, the actual print was +0.5% MoM (as consensus expected - and hotter than BofA's forecast), lifting sales by 4.9% YoY...