Stop Destroying Civilization!

The Iranian government has allowed a number of foreign vessels to transit the Strait of Hormuz in recent days, with some reports stating that a one-month permit had been granted to certain ships. Once a conduit for much of the world’s oil supply, the strait was effectively closed by Tehran in response to US and […]

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...

China Tests Directed Energy Beam That Recharges Drones Mid-Flight Authored by Bojan Stojkovski via Interesting Engineering, A Chinese research team has successfully tested a wireless power transfer system that beams energy from the ground to a drone in flight using microwaves.  The setup relies on a mobile emitter that directs energy to an antenna array mounted beneath the aircraft, enabling continuous power delivery without physical connections. Notably, the experiment maintained stable transmission even while both the drone and the ground unit were moving, marking a step beyond static demonstrations.  Representational image of a...