Report: US Plans to Provide NATO with Fewer Military Assets

Solid 5Y Auction Despite 12th Consecutive Tail, Thanks To Stellar Foreign Demand After a mediocre 2Y auction on Tuesday, moments ago the Treasury sold the week's second coupon auction when it auctioned off $70BN in 5Y paper to solid demand, some superficial weakness notwithstanding.  The auction stopped at a high yield of 4.182%, up from 3.955% in April and the highest yield since Jan 2025. The auction also tailed the 4.181% When Issued by 0.1bp, which was the 12th consecutive tailing auction for the tenor, the longest stretch on record. The bid...

Halliburton Sees First Signs Of Life In America's Oil Patch: "We Are In Early Innings" An emerging theme we are focusing on is the early stage of a major capex upcycle in America's oil patch, with even Goldman now moving in that direction and forecasting a boom that could echo the industry's expansion cycle of the early 2000s. Continental Resources CEO Doug Lawler was the first of the major oil patch players to mention in early April that "Continental is increasing our capital budget, which will increase production." Now, another giant...

'Toxic Indoctrination': Dept Of War Cuts Fellowships At 13 'Elite' Universities Authored by Gabrielle Temaat via The College Fix, The U.S. Department of Defense announced the cancellation of its military education fellowships at 13 top universities on Friday, citing “toxic indoctrination.” “We are eliminating certain Senior Service College (SSC) Fellowship programs for the 2026-2027 academic year and beyond. I am also directing the compilation of a revised list of elite institutions offering equivalent programs to replace those eliminated,” the agency wrote in a memo to Pentagon leadership.  It said this change will give leaders “a...