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US Services Surveys Disappoint In April Amid Stench Of Stagflation
US Services Surveys Disappoint In April Amid Stench Of Stagflation
Despite Manufacturing surveys solid (and US factory orders surging), expectations are for the Services sector surveys today to show stagflationary signals (weak growth, surging prices).
S&P Global's Services PMI disappointed in April (final), falling from its flash print of 51.3 to 51.0, but still up from multi-year lows below 50 in March, showing just marginal activity growth despite weak drop in sales volumes.
ISM Services PMI also disappointed in April, falling from 54.0 to 53.6 (vs 53.7 exp) amid tumbling new orders and...
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Apr 8, 2026 / Tyler Durden
US, Israel Insist Iran Ceasefire Doesn't Apply In Lebanon, Which Suffers Huge Airstrikes
US, Israel Insist Iran Ceasefire Doesn't Apply In Lebanon, Which Suffers Huge Airstrikes
Israel has made clear that it doesn't see the newly declared US-Iran ceasefire as applying to its war in Lebanon, where it is still trying to destroy Hezbollah. The White House too has made its stance clear that it doesn't apply, but President Trump has stated his intent to take care of a Lebanon ceasefire separately.
The military has unleashed hell on Beirut, southern Lebanon, and the eastern Bekaa valley overnight and through Wednesday - with Beirut suffering...
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Apr 27, 2026 / Tyler Durden
Average 2Y Auction Is A Big Improvement From Last Month's Debale
Average 2Y Auction Is A Big Improvement From Last Month's Debale
In today's first of two coupon auctions (due to the week's truncated schedule as the Fed is on Wednesday), the US Treasury sold $69BN in 2 year paper in a mediocre auction, yet one which was notably stronger than last month's issuance.
The sale stopped at a high yield of 3.812%, down from last month's 3.936% and tailing the When Issued 3.811% by 0.1bps. This however was a big improvement from last month's 1.8bps tail, which was the biggest since...
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Apr 17, 2026 / Tyler Durden
Hochul Joins Mamdani In New York's "Eat The Rich" Movement
Hochul Joins Mamdani In New York's "Eat The Rich" Movement
Authored by Jonathan Turley,
The hunt is on...
New York City Mayor Zohran Mamdani used Tax Day to announce a new fee targeting wealthy people who still linger in the city after moving their primary residences to other states.
The tax, called pied-à-terre (or “foot on the ground”) is designed to hit people who still maintain high-value properties in the city. It is a remarkably moronic effort to ensure that wealthy people cut all ties with the city. However, Gov. Kathy Hochul has...
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