Iran Threatens Attack On US Navy In Hormuz, As Pentagon Rejects IRGC Claim American Warship Hit

Futures Jump As Brent Tumbles Below $90 On Fresh Round Of Iran Ceasefire Optimism A sharp drop in oil prices prompted by a quieter weekend for geopolitics and a pause in MidEast hostilities also sparked a drop in bond yields and the USD. A powerful relief rally in stocks and bonds emerged after a lull in hostilities in the Middle East, and started a week packed with earnings and a stack of interest-rate decisions on a positive note. As of 8.00am ET, Nasdaq futures surged after the index logged its first back-to-back...

Waste Of The Day: $79M To Not Work Authored by Jeremy Portnoy via RealClearInvestigations, Contractors working for the State of Illinois took a 470,000-hour paid lunch break on taxpayers' dime. A company hired during the Covid-19 pandemic to fill staffing shortages at hospitals and long-term care facilities spent more than a third of its time on "standdown," a contract provision that paid them to be on-site and available in case they were needed. The contractor, Favorite Healthcare Staffing, was supposed to notify the state any time its employees were on standdown for more...

Riyadh Airport Closure Extended As Saudi Arabia Projects 'Normalcy', Hosting World Petroleum Congress Saudi Arabia’s King Khalid International Airport's closure has been significantly extended in an unprecedented move by aviation authorities following the two weekend ballistic missile attacks by Yemen's Houthis which left at least 13 people killed and over 300 injured. Prior strikes rocked the airport last week, and in all 15 have been killed in two weeks, including a Saudi Airlines pilot. Saudi Arabia's civil aviation body Monday extended the suspension of operations, stating "The General Authority of Civil...