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The Beautiful Great Game: Extra Time & Penalties By Michael Every of Rabobank Yesterday’s in-line US CPI report was the non-event its relative insignificance vs tumultuous domestic and global backdrops suggested it should be. Meanwhile, in the ‘Beautiful Great Game’, it’s extra time and penalties, medals and champagne for some, and tears for others. Iran remains defiant. Trump says he has “total control” of and “will keep” Hormuz. He’s hoping the UAE can shuttle vastly more refined product through Hormuz under the radar than it already is, as Axios flags, ‘Diesel desperation...

New DRAM Demand Source Could Surge 20-Fold By 2030 Last month, Jason Chen, chairman and CEO of Taiwanese PC maker Acer, offered some relief from the memory shortage, saying chip prices could begin falling in the second half of next year. That outlook challenges the memory cartel, pardon, the Big Three's claims that prices will keep rising well beyond 2027. Meanwhile, Chinese memory-chip manufacturer ChangXin Memory Technologies, better known as CXMT, recently said it had begun mass production of advanced memory chips. Goldman analysts are now looking to Samsung's Oct....

Ceased Ceasefire? By Bas van Geffen, Senior Market Strategist at Rabobank There has been little progress in the US-Iran peace negotiations over the past weekend. In fact, it feels like the two sides have been walking backwards as the ceasefire is faltering.  The US and Iran are still at odds over the frozen Iranian assets, which Iran wants released as part of any deal. But, yesterday, President Trump said that he will not unfreeze any amount of Iranian assets, nor lift sanctions, immediately after a deal is closed: “If they behave, if they...