Futures Drop, Chips Resume Slide As OpenAI IPO Delay Dents Sentiment

"Will You Help Me Repair My Door?": Rapper Afroman Wins Major Free Speech Verdict Authored by Jonathan Turley via jonathanturley.org, When singer Joseph E. Foreman took the stand recently in Ohio, his message, like his lyrics, was hardly subtle. Indeed, counsel may have been unsure whether to examine or to hoist him. The rapper, known as “Afroman,” appeared in a suit modeled after an American flag with matching flag-patterned sunglasses. He lashed out at the seven police officers who raided his home and then sued him for publicly mocking them. He...

Remember: In A Crisis, Everyone Will Consider Themselves 'The Good Guys' Authored by Charles Hugh Smith via substack, The state has two monopolies it must protect whatever the cost: the monopoly on decreeing what is legal tender and on force. We’re entering an era in which push comes to shove will lead to immovable objects encountering irresistible forces. All sorts of verities and vanities will be bulldozed as kicking the can down the road descends into desperation to stave off collapse, a desperation that unleashes second order effects the desperate did not anticipate. The only responses at this...

Average 2Y Auction Is A Big Improvement From Last Month's Debale In today's first of two coupon auctions (due to the week's truncated schedule as the Fed is on Wednesday), the US Treasury sold $69BN in 2 year paper in a mediocre auction, yet one which was notably stronger than last month's issuance. The sale stopped at a high yield of 3.812%, down from last month's 3.936% and tailing the When Issued 3.811% by 0.1bps. This however was a big improvement from last month's 1.8bps tail, which was the biggest since...