Ceasefire Over? Trump Downplays 'Mini-War' After US & Iranians Trade Shots, Missiles Target UAE

Even GOP Hawks Now Alarmed Over Iran War Fallout As 60-Days Hits Friday Amid reports that Vice President JD Vance is very seriously questioning the White House's Iran War narrative along with the Pentagon's rosy and overly positive updates on how things are going, over in Congress there's growing alarm as Trump's Operation Epic Fury is set to hit the 60-day mark on Friday.  Republicans no doubt want to wrap things up fast, however, the latest reports say the White House is preparing for an extended Hormuz blockade of at least...

Five Dynamics That Make Sense Of An Increasingly Chaotic World Authored by Charles Hugh Smith via OfTwoMinds blog, These dynamics and the incentives they generate lead to systemic crisis and collapse. As I noted in What Once Explained Everything Now Explains Nothing, the simplicity of either-or ideologies appeal to us. Identifying with an ideology is like having a favorite sports team: yea for our team! Our team good, other team bad. The roots of this simplistic either-or are obvious: our tribe good, other tribe bad. The problems with this simplistic loyalty arise when we attempt to...

Tailing 30Y Auction Prices At Highest Yield In 25 Years After yesterday's ugly 10Y auction, moments ago we got the last of the week's refunding auctions, when the Treasury sold $25BN in 30Y paper (the same paper that has seen yield shoot up in the past week, ever since Warsh's most recent FOMC meeting in which he left the long-end hang out to dry), and just like the 10Y auction before it, this one was also rather deplorable. Pricing at a high yield of 5.216%, the auction tailed the When Issued...