Israeli Airstrike in Gaza City Kills Little Boy and His Father

Average 2Y Auction Stops Through, Has Highest Yield Since Jan 2025 In the week's first coupon auction, moments ago the Treasury sold $69BN in 2Y notes at a high yield of 4.189%, up from 4.071% and the highest yield since January 2025; the auction also stopped through the When Issued 4.192% by 0.3bps, the biggest through since January. The bid to cover was perfectly average at 2.643, unchanged from last month's 2.640 and right on top of the recent average of 2.61. Internals were a bit on the weak side, with Indirects...

Et Tu, Indonesia! As the squeeze continues on China's energy supply (and Xi has started to lash out here and here), we suspect the next words out of the Chinese leader's mouth (if he spoke Latin) will be "...et tu, Indonesia!" As Stephen Green writes at PJMedia, it might have seemed like one of those dry, bureaucratic, almost meaningless announcements on Monday, when War Secretary Pete Hegseth posted on X that the U.S. and Indonesia "are elevating our relationship to a Major Defense Cooperation Partnership."  This arrangement “will explore mutually agreed cutting-edge...

Unearthed Docs Reveal More Names Targeted in Biden DOJ's Fishing Expedition Authored by Luis Cornelio via Headline USA, Former Special Counsel Jack Smith targeted more Republican lawmakers and conservative figures than previously known, newly unearthed documents show.  Smith, tasked by the Biden administration with prosecuting Donald Trump after 2021, has faced scrutiny since 2025, when bombshell disclosures revealed he targeted GOP lawmakers as well as dozens of conservative nonprofits and PACs.  Newly reported DOJ documents, first obtained Tuesday by Fox News, show the scope extended to former White House chief of staff Mark Meadows, Trump attorney Rudy Giuliani, and Reps. Brian...