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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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May 22, 2026 / Tyler Durden
Iran Says 35 Ships Exited Strait Of Hormuz As Rubio Condemns Tolls
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The US blockade of the Iranian blockade is looking increasingly more porous.
Iran said 35 ships passed through the Strait of Hormuz in the past 24 hours in coordination with the Islamic Revolutionary Guard Corps, the Iranian state broadcaster reported on Friday. The navy had already reported on Wednesday that 26 ships had passed through the strait within 24 hours. On Friday, the data provider Kpler confirmed only 10 passages on Wednesday. This represented an increase from the four passages...
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Apr 23, 2026 / Patrick Frise
God Bless Captain Vere: When Constitutional Duty Yields to Institutional Power
With President Trump demanding people in the armed forces as well as in other government offices do his bidding no matter what the law might be, it is time for people to learn the lesson of Captain Vere.
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S&P Futures At Daily Record High Because RAM And World Peace
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US futures are trading at new all-time highs following Tuesday’s record-setting rally (when the S&P hit a new record high on negative breadth as is now the norm) , bolstered by a growing chorus of Wall Street bulls: Goldman lifts its S&P 500 target, while Barclays strategists say investors still have capacity to chase the rally, while the memory bubble just keeps raging as the market value of Korea's SK Hynix sailed above the trillion-dollar mark just one day after fellow...
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