The Natural Order of Society

Notwithstanding some of the positive words that came out following the talks in Geneva on Tuesday between the United States and Iran, the die is cast… The United States is going to attack Iran in an attempt to create enough social disorder and chaos in Iran that the Shia Muslim clerics will be forced to […]

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:...

Futures Slide After Bond Yields, Oil Prices Jump Around The Globe Futures are lower, but off their overnight lows as markets focus on soaring global yields after US/Iran talk progress remains stalled (but at least armed hostilities did not resume contrary to some speculation). Yields also spiked on rising oil prices, concerns of an extra budget in Japan and continued political chaos in the UK. As of 7:00am ET, S&P futures are -0.5%, while Nasdaq futures drop 0.3%; semis are bid, Mag7 are mostly lower ex-NVDA which reports earnings this...