Trump Hits Cuba With New Sanctions; Rubio Warns Of Havana's Foreign Influence Ops

Explosion In Data-Centers Fueling Third Wave Of Inflation We're finally starting to see hints of relief when it comes to inflation. Prices at the pump are starting to come down, monthly core CPI momentum has slowed, used cars were down around 2% YoY, and food inflation is starting to moderate. On the other hand, there's America's massive explosion in artificial-intelligence infrastructure - which is beginning to push prices up on everything from electricity to smartphones. On Thursday Apple announced a 15-25% price hike on Mac computers and iPads, after CEO Tim Cook told the Wall Street...

Did The World Cup Just Start A War In Europe Over Air Conditioning? The World Cup has triggered one of the most surprising global cultural awakenings in decades and almost no one saw it coming.  The establishment media had been running negative propaganda for months, claiming that the event was going to be a disaster because it was being held in the US.  The machine had already decided that the World Cup in 2026 was going to be sold as a disaster from start to finish.  Rumors were spinning...

Mediocre 5Y Auction Tails As Foreign Demand Slides After yesterday's solid 2Y auction, today's 5Y auction was an uglier mirror image.  The sale of $70BN in 5 year paper priced at a high yield of 4.200%, up from 4.182% in May and the highest since Jan 25. It tailed the When Issued 4.193% by 0.7bps, and was the 8th consecutive tail for the 5Y tenor. The bid to cover was 2.351, better than the 2.340 in May and the highest since October.  The internals, however, a disappointment: Indirects took down just 61.60%, a...