ECB Hikes Rates For First Time Since 2023 (As Expected); Cuts Growth, Hikes Inflation Outlook

Modi Urges Indians To Conserve Fuel As Oil Shock Spreads India’s Prime Minister called on the nation to work from home, travel less, and conserve fuel to help the government save foreign exchange, OilPrice reported. “In the current situation, we must place great emphasis on saving foreign exchange,” Narendra Modi said, as quoted by Reuters. The prime minister also urged Indians to stop buying gold, again to conserve foreign exchange. Modi also called on farmers to reduce their fertilizer use by as much as 50%. CNBC recalls that India spent $174.9 billion...

War On The Shore: Maryland Dem Officials Freak Out At Journalists Ahead Of Exposé On Governor The Democratic kings and queens in the one-party–ruled state of Maryland are absolutely panicking, something that should not be happening in a deep-blue state, as their crown jewel, left-wing Gov. Wes Moore, a prospective Democratic presidential candidate, has seen polling data implode. High taxes, surging power bills, a state budget crisis, poor leadership, and even questions about honesty have sparked voter backlash on both sides of the political aisle.  In the battle for narrative...

Jobless Claims Hover Near Record Lows Sustaining 'No Hire, No Fire' Narrative The number of Americans filing for unemployment benefits for the first time was flat from the prior week at 210.5k (215k exp). Simply put, these numbers are hovering near their lowest levels since 1969... Source: Bloomberg Continuing claims also printed below expectations at 1.819 million Americans. This is the lowest level since May 2024... Source: Bloomberg Finally, as a reminder, sentiment surveys suggest the labor market is bifurcated with 'jobs hard to get' but joblessness not surging... Source: Bloomberg That chart reinforces the 'no...