US Navy Destroyers Transit Hormuz Strait As Iranian Factions Reportedly Clash Over UAE Attacks; Pentagon Insists Ceasefire Still On

Nobody Knows What Will Happen Next By Michael Every and Bas van Geffen of Rabobank Ceasefire Yesterday, the US and Iran threatened to, respectively, “destroy Iranian civilisation” with “new tools” and other countries in the Gulf with old ones. Ahead of the 8PM deadline that Trump had set for “Bridge and Power Plant Day,” US and Israeli forces reportedly already destroyed some bridges and other infrastructure. Washington and Tehran struck a last-minute, two-week ceasefire – provided that the Strait of Hormuz is fully reopened. Notably, this was after China leaned on Iran to...

Senate Confirms Kevin Warsh As Fed Chair In Most Partisan Vote Ever Update: In a largely party-line vote, the U.S. Senate on Wednesday confirmed President Donald Trump’s nominee Kevin Warsh to a 14-year term as the next Chair of the Federal Reserve, succeeding Jerome Powell whose term as chair ends this Friday. The 54-45 vote was the slimmest confirmation margin ever for a head of a central bank, reflecting fears that he'll be Trump's puppet.  Trump has made no secret that he expects rates to lower under Warsh after repeatedly slamming Powell for monetary policy Trump feels is...

Commodity Supercycle: The Enemy Of The Bull Thesis Authored by Lance Roberts via RealInvestmentAdvice.com, The commodity supercycle thesis is everywhere right now. Bank of America’s Michael Hartnett, one of the most widely read strategists on Wall Street, recently declared “commodities the biggest trade of the next five years,” anchoring the call on deglobalization, chronic capital underinvestment, and a world drifting away from dollar dominance. As is often the case, the narrative is extremely compelling. However, it’s also internally contradictory in ways that most investors aren’t stopping to examine. After three decades of managing money,...