Lebanese City of Tyre Again Ordered Evacuated as Israel Strikes Hospital Area

Treasury Refunding: No Changes To Auction Sizes; Bessent Keeps "At Least" In Forward Guidance In our preview to this morning's Quarterly Refunding Statement, we said that we do not expect major changes and that, at most, the treasury might adjust its statement language to soften the forward guidance on possibly futures increase in coupon auction sizes with one likely change would be dropping “at least” while retaining the expectation for unchanged coupon sizes over “the next several quarters” (recall Deutsche Bank said it expects nominal coupon increases beginning in February 2027).  Overnight, JPMorgan agreed,...

China Flexes Robot Wolves With Machine Guns And A "Collective Brain" Four years of hyperdevelopment, battlefield testing, and deployment of FPVs, ground robots, AI-enabled kill chains, and soon humanoid robots have permanently altered the course of the modern battlefield, as war technologies once viewed as 2030s-era weapons are being pulled forward into the present day and are now proliferating across battlefields stretching from the Eastern European theater to the Gulf theater, as Eurasia appears to be at war. The latest reminder is that, regardless of the battlefield across Eurasia, there...