UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry

Core CPI Prints Cooler Than Expected Despite Biggest Jump In Energy Prices Since 2005 While PCE showed some signs of higher energy prices leaking into inflation prints, it was still February data. As we previewed, today's CPI data is for March and will bear the full brunt of the Iran War's impact on energy costs after Core CPI fell to its lowest in four years in February. The headline CPI soared 0.9% MoM (as expected) and while it was a big MoM jump, Consumer Prices rose 3.3% YoY (up from +2.4%...

July Jobs Shock: US Lost 23K Workers, Below Lowest Estimate, As Unemp Rate Drops To 4.1% Ahead of today's jobs report, in our payrolls preview we warned that "July Has Emerged As A Very Poor Month For Jobs" and boy were we right: moments ago the BLS reported that in July, the US labor force shrank by a whopping 23K, sharply lower from a downward revised 20K in June (from 57K), and the worst print since the negative 156K in February. As noted above, the -23K print was below all estimates... ......

Democrat-Owned Brewery Complains About Failed Trump Assassination Attempt With Twisted Promise To Customers Minocqua Brewing Company, a craft-beer maker in Minocqua, Wisconsin, run by a Democrat activist, is facing fierce blowback after its social-media account appeared to mock a recent assassination attempt on President Donald Trump and reiterated an earlier pledge to offer free beer on the day of his death. Minocqua Brewing Company owner Kirk Bangstad (screenshot via Instagram) The company, owned by Kirk Bangstad - who ran as the Democrat nominee for Wisconsin’s 34th Assembly District in 2020 and founded...