US To Start New Trade Talks With Mexico

One Day Until Trump's Self‑Imposed 5-Day Deadline On Iran But Markets Appear Increasingly Numb By Molly Schwartz, Cross Asset Macro Strategist at Rabobank More persistent inflation Yesterday, Iran rejected the US-proposed 15-point plan, instead laying out its own conditions in a 5-point plan; (1) halt the killing of Iranian officials; (2) means to make sure no other war is wage against it; (3) reparations for the war; (4) an end to all hostilities; and (5) Iran’s “exercise of sovereignty over the Strait of Hormuz.” The probability that Washington would accept these terms in...

Houthis Say Forces 'Repelled' Saudi Warplanes From Threatening Iranian Civilian Airliner Via The Cradle Yemen's Houthis announced Friday that they had "repelled" an attempt by Saudi warplanes to prevent an Iranian civilian aircraft from landing at Sanaa airport. Yemeni Armed Forces (YAF) spokesman Brigadier General Yahya Saree said that Saudi warplanes violating Yemeni airspace were targeted with several air-defense missiles, forcing them to withdraw. via Reuters Saree stressed that the Iranian civilian aircraft was carrying more than 200 Yemeni citizens who had been stranded in Iran, including many who were sick or wounded. “We warn the criminal...

UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry Drawing down crude inventories at a record pace, with SPR releases doing the heavy lifting to cushion the Gulf supply shock, only delays the move higher in crude oil prices. Once those buffers are depleted, oil risks being violently repriced higher. That is why the Trump administration's race to secure a peace deal with Iran and reopen the Hormuz chokepoint has taken on new urgency in recent weeks. The longer the critical waterway remains disrupted, the greater the risk...