US Bombs Somalia for 62nd Time This Year

Qatari LNG Tanker Hit By Iranian Missile In Hormuz Chokepoint A fully loaded Qatari LNG tanker was struck by a projectile near the Omani coast while exiting the Strait of Hormuz, raising fresh concerns that disruptions across the key energy maritime chokepoint could persist longer than traders had expected. Brent crude rose more than 1% to $72.76 a barrel as traders reassessed the war-risk premium in the Gulf area. The Al Rekayyat, owned by Qatar's state shipping company Nakilat, was struck early Tuesday about 8 nautical miles east of Limah, Oman,...

Stellar 10Y Auction Stops Through, With 3rd Highest Foreign Demand On Record Following yesterday's stellar 3Y auction, moments ago - with yields surging to the highest level since mid-May - the Treasury completed the sale of $39BN in a 9 Year 10 Month reopening of 10Y cusip QQ7, in what was another spectacular auction. The note sale, which priced just after 1pm ET, stopped at a high yield of 4.580%, up from last month's 4.538%, and stopped through the When Issued 4.586% by 0.6bps, the biggest stop through since Sept '25. The...

From the Jacksonians to the Marxists, political theorists have understood that there is something unique about "small industry" between big business and propertyless workers.