Iran’s Khamenei Says Future of Persian Gulf Will Be Free of US Presence

Core CPI Prints Cooler Than Expected Despite Biggest Jump In Energy Prices Since 2005 While PCE showed some signs of higher energy prices leaking into inflation prints, it was still February data. As we previewed, today's CPI data is for March and will bear the full brunt of the Iran War's impact on energy costs after Core CPI fell to its lowest in four years in February. The headline CPI soared 0.9% MoM (as expected) and while it was a big MoM jump, Consumer Prices rose 3.3% YoY (up from +2.4%...

UK Government Brands Union Flag A 'Tool Of Hate' In Leaked 'Social Cohesion' Strategy Authored by Steve Watson via Modernity.news, A leaked draft of the UK Government’s new ‘social cohesion’ strategy has sparked outrage by labeling the flying of English, Scottish, and Union Jack flags as potential “tools of hate.” The document claims these national symbols were sometimes used last summer to “exclude or intimidate,” adding that the “extreme right has tried to turn symbols of pride into tools of hate.” The 47-page draft, leaked to the Spectator magazine, also highlights how antisemitism...

US Futures, Treasuries Flat Ahead Of Core PCE, Micron Earnings Futures are higher with S&P leading both tech and small caps ahead of today's core PCE data and Micron earnings after the close, as yields remain sticky, unchanged from yesterday's multi-decade highs, and the USD fractionally lower. As of 8:00am ET, S&P futures are flat, with Nasdaq futures down fractionally as semis dip -20bp lagging the broader Tech tape but leading Software (-54bp) and Memory (-80bp) after Korea's Kospi closed lower erasing an early bounce. In premarket trading, Mag7s are...