Florida & Texas Lead Jobless Claims Rebound From Near Record Lows

Gulf Oil Is Available Again, But Asian Refiners Balk At Soaring Tanker Rates Iran and the US have a peace deal? check (for 60 days, allegedly).  Strait of Hormuz open? check (for 60 days, allegedly). Ships transiting freely? check (not really) Massive build up of Gulf oil desperate to reach Asian refiners? check. All great news, which means that oil should now flow freely and in huge amounts, right? Wrong: two of Asia's largest refiners, PetroChina and Indian Oil, failed to secure very large crude carriers to lift Iraqi Basrah crude in late June, Reuters reported, while...

A Fed Rate-Hike Would Be A Serious Mistake Authored by Daniel Lacalle, The latest U.S. inflation report and jobs data do not justify another interest rate increase. Additionally, June data show that inflation is slowing down, especially in the core CPI measure that is most closely watched by monetary authorities, while ongoing tightening is stopping the labor market from reaching its full potential. Hiking rates while maintaining elevated liquidity harms families and small businesses and perpetuates the very factors that drive inflation, including rising money supply and government spending. Keeping rates above the neutral...

Billionaires Are Buying Into Psychedelic Companies Submitted by QTR's Fringe Finance Putting aside my skepticism of SpaceX for a moment, there is something worth paying attention to in the latest report about the people who made fortunes backing the company: they are now putting serious money into psychedelics. And while I can’t necessarily get behind backing Elon Musk’s idea of elephants performing Les Miserables on the moon, or whatever other “lofty” goals are in the SpaceX S-1, I can get behind these follow up investment ideas. Back in January when absolutely no one was talking about the sector, I...