Trump Disapproval Rate Hits Career-High - War And Rising Costs Take Toll

Bessent Says Hormuz Will Be A "Worthless Piece Of Water" In Two Years Summary Bessent Says Hormuz Will Be "Worthless Piece of Water" In Two Years Iran offers conditional ceasefire: Pezeshkian says Iran will return to talks if the US honors prior commitments, which Tehran says it has violated. US threatens further strikes: Trump warned of more action but ruled out necessarily returning to full-scale war. Tankers hit in Strait of Hormuz: Two supertankers struck exiting Hormuz, escalating energy-market risks. Oil prices surge: Brent crude rose above $92/barrel. Diesel supply squeezed: Refinery disruptions are driving diesel prices and margins sharply higher. Strait of...

Treasury Boost Quarterly Borrowing Estimate To $189BN: Full Quarterly Refunding Preview The US Department hiked its estimates for US debt borrowing in the current quarter, citing lower net cash flows. In a statement published today, and ahead of Wednesday's Quarterly Refunding Announcement, the US Treasury said that it now expects to borrow $189 billion in net debt for the current quarter, up ~$80 billion from the $109 billion it had forecast in February. The estimate assumes a June quarter-end cash balance of $900 billion, the same as the prior forecast.  According to the...

Huawei Touts Sanctions-Busting Chip Breakthrough, SMIC Shares Erupt Semiconductor Manufacturing International soared to a record high in China after Huawei unveiled what it described as a breakthrough pathway for advanced semiconductor production at the IEEE ISCAS conference, without relying on the West's most advanced chipmaking equipment. Huawei's semiconductor chief, He Tingbo, told the audience earlier today that the company has developed a "New Semiconductor Path in Practice" that replaces traditional Moore's Law-style geometric scaling with time scaling and reducing signal propagation delay across devices, circuits, chips, and systems. Huawei's press release...