One Key Signal Says Rate Hikes Could Be Coming

Terrible 5Y Auction: Worst Bid To Cover In 4 Years, Highest Tail Since 2024, Dealers Jump Another day, another very ugly auction. After yesterday's appallingly bad 2Y auction, moments ago the Treasury sold $70BN in 5Y paper in what was another terrible auction. Just after 1pm, the auction stopped at a high yield of 3.966%, up from 3.608% in February and the highest since May 2025. It also tailed the When Issued 3.966% by 1.4bps, the biggest tail since Oct 2024. The bid to cover was 2.29, down from 2.32 last month and...

New Iran Leadership More Extreme, Israeli Intelligence Concludes In what should not at all be a surprise to anyone who has been awake and observant over the past 20+ years of America's military interventions in the Middle East, the Israeli Army and intelligence officials have concluded that Iran's news leadership is more extreme than the previous one. The IDF delivered a closed-door intelligence briefing to the Knesset Foreign Affairs and Defense Committee on Thursday, which involved presenting this finding, according to The Times of Israel. via Majlis Iran's new leadership consists of members of...

A Russian tanker carrying liquefied natural gas in the Mediterranean Sea was attacked before sinking. Moscow says Kiev used underwater drones in the attack.  The Arctic Metagaz was hit on Tuesday, causing a fire to break out. The Russian state media outlet TASS reported that all 30 crew members on board are safe. The Russian […]