Treasury Weighs Allowing Billionaires To Donate Stock To Trump Accounts

TACO Vs TAW: Fade This (Equity) Rally Authored by Peter Tchir via Academy Securities, Ceasefire? The U.S., via Pakistan, and apparently consistent with negotiations being carried out by Witkoff and Kushner, has delivered a 15 point agreement for a ceasefire. Markets responded with oil down (Brent futures, at 5:30 am are back down below $100, from a high of $105 on Tuesday). Stock futures and treasuries are rebounding as well (even the 2-year, after the drubbing it took after yesterday’s auction noticeable for an absence of “direct” bids). Many of the Polymarket Strait of Hormuz “prediction”...

Aluminum Market Descends Into Supply 'Black Hole' Aluminum prices on the London Metal Exchange are climbing into the end of the week, reaching $3,621 a ton and approaching the peak seen during Russia's 2022 invasion of Ukraine. The problem now is that the aluminum market has been thrust into a serious supply shock amid the U.S.-Iran conflict in the Middle East, one that is unlikely to be reversed in the near term. One big problem we highlighted last weekend was that Emirates Global Aluminum (EGA), the Gulf's largest aluminum...

European Gas Storage Can't Survive 3 More Months Of Hormuz Authored by Alex Kimani via OilPrice.com, Europe risks a major gas storage shortfall if disruptions through the Strait of Hormuz continue for another 1–3 months, with inventories still far below normal seasonal levels. LNG supply disruptions, strong Asian demand, and distorted gas pricing have made refilling storage unusually difficult and expensive across the EU. Equinor warns prolonged disruptions could push Dutch TTF gas prices toward €90/MWh, forcing industrial demand destruction and fuel switching across Europe. Europe could face a critical shortfall in natural gas...