How Norway Built the World’s Largest Fund and a Thriving Economy to Boot

The Market Is Grappling With Two Major Unknowns By Stefan Koopman, Senior Macro Strategist at Rabobank President Trump began this week’s Monday‑morning jawboning ahead of schedule. Speaking to reporters aboard Air Force One on Sunday evening as he returned to Washington DC, he talked up the negotiations with Iran, said that Iran’s new leadership already constitutes “regime change” and praised the “deal” with Iranian speaker Ghalibaf to allow up to 20 Pakistan-flagged oil tankers to pass through the Strait of Hormuz under Iranian (!) escort. Markets have already brushed aside Trump’s comments,...

Spain Gasses Its Own People; Police Probe Migrant/Soros NGO Acid Buys In Ceuta Authored by Steve Watson via Modernity News, Spanish National Police have been examining a bulk purchase of hydrochloric acid and aluminium foil in Ceuta after supermarket staff flagged a large group of migrants, reported as mostly Moroccan, buying the two products together. Spanish outlets citing police sources identified activists from the NGO No Name Kitchen as accompanying those buyers. Investigators have been trying to establish whether the materials were meant for homemade "acid bombs" - plastic bottles packed with...

Bessent Plays Hardball With "Bloomberg Bros": Yields Spike As Treasury Accepts Just 68% Of Maximum Buyback Offers Two weeks ago, treasury yields spiked to a 3 year high (still well below 5%), after the first expanded Treasury buyuback operation which had a maximum capacity of $6 billion, resulted in just $5.187 billion in actual buyback offers accepted by the Treasury. That was a problem because as BofA's rates guru, Mark Cabana, wrote just ahead of the first buyback (his note is available to pro subs), over the last several operations the...