Futures Jump As Dip-Buyers Return After After Iran Truce Holds

"Make A Deal Before It's Too Late": Trump Threatens Tehran (Again) As Iran/Oman Draft Protocol To Re-Open Hormuz Summary World's most important oil price hits record high as Trump threatens Iran: "make a deal before it's too late" Oil drops on reports of Iran-Oman coordination to reopen strait. Iran issues Israel/Gulf logistics hubs target list; IRGC targets Amazon Cloud computing center in Bahrain US intelligence assessments say Iran is not ready to negotiate given it believes it has the strategic upper-hand, and doesn't believe Trump is 'serious' about talks: NYT Highest bridge in Iran, connecting Tehran...

The "Good News" Is Always The Same: The Stock Market Is Up... Until It Isn't Authored by Charles Hugh Smith via OfTwoMinds blog, Cloaking a fake "market" with artifice to maintain its asymmetrical distribution of wealth and income also cloaks its detachment from the real world. I often refer to the dynamics of self-correction and self-liquidation. Systems that use feedback to rebalance extremes are self-correcting: rather than accelerate as they approach a cliff, they slow down and reorganize to avoid runaway self-reinforcing feedback (i.e. positive feedback), a.k.a. run to failure. Some things are self-liquidating by...

Key Events This Week: CPI, PPI, Retail Sales, Trump-Xi Summit As DB's Jim Reid tallies overnight, it has now been 73 days since the war in Iran began, with the past 32 marked by a stalemate characterized by a mix of truce and ongoing ceasefire. The absence of any meaningful kinetic activity for over a month suggests a firm US preference for reaching a deal. However, a counterpoint is that uncertainty over who holds negotiating authority in Iran may be complicating progress and delaying more difficult times ahead. It remains...