No, AI Won't Make Money Obsolete

Some fifteen years ago I wrote that western reliance on its lens of secular rationality was no longer adequate as a means to understand the Israeli-Palestinian conflict. It was becoming obvious — even then — that the future of the region would be one of wars increasingly defined by religious symbols: i.e. Al-Aqsa versus the […]

10Y Auction Tails As Foreign Demand Dips After yesterday's impressive 3Y auction, moments ago the Treasury sold $39 billion in benchmark, 10Y paper, in what was a mediocre auction. The auction, a 9-Year 10-Month reopening of cusip CPX8, stopped at a high yield of 4.282%, up from 4.217% last month and the highest since last August. It also tailed the When Issued 4.280% by 0.2bps, the third consecutive tail in a row. The bid to cover dipped to 2.429 from 2.449, and was also below the six-auction average of 2.48. The internals also...

Pentagon Restricts Press Office Access Over Privacy Concerns Via American Greatness, The Pentagon announced Monday that reporters will no longer have open access to the War Department’s public affairs office after the space was redesignated as a classified facility to accommodate staff handling sensitive material. The announcement marks the latest effort by the Pete Hegseth-led War Department to tighten operational security and reshape longstanding media access practices inside the Pentagon. Under the new policy, the Pentagon’s public affairs office has been converted into a Sensitive Compartmented Information Facility, commonly known as a SCIF. The office had...