Hezbollah, IDF Reject Trump-Backed Ceasefire in Lebanon

Fire Erupts At Massive Food Storage Warehouse In Southern California A large fire is ripping through a massive cold-storage facility in Boyle Heights, Southern California, a critical node in the region's cold-food supply chain. Local outlet KTLA reports the fire at Preferred Freezer Services, Big Bear #7, located at 1400 S. Los Palos St. in Los Angeles, was first reported around 2:35 p.m. local time. "First-arriving units reported that fire was showing from the roof of the massive single-story building, which they estimated was about 1,000 feet by 500 feet," the local...

Iran on Tuesday confirmed that Ali Larijani, the head of Iran’s Supreme National Security Council, was killed by an overnight Israeli strike, the most significant Iranian leader to be assassinated since Supreme Leader Ayatollah Ali Khamenei was killed in the opening strikes of the war. “After a lifetime of striving for the elevation of Iran […]

Dismal, Tailing 10Y Auction Sees Lowest Foreign Demand Since Jan 2025 As Yields Soar With 30Y yields trading on the wrong side of 5% today, all eyes were on today's 10Y refunding auction to see if it would be ugly enough to push yields to 4.50% or higher. Here is what happened. Just after 1pm, the Treasury announced that the high yield on today's sale of $42 billion in 10Y paper was 4.468%, the highest yield since Jan 2025, and a 0.4bps tail to the When Issued 4.464%, the 4th consecutive...