Trump Says "Perimeters Of A Deal Reached" With Iran To Reopen Hormuz After Call With Saudi Crown Prince

US Treasury Sells $139BN In Two Polar Opposite Auctions: A Stellar 2Y And A Dismal 5Y Ahead of Wednesday's FOMC decision (where according to SOFR futures, the odds of a rate hike are a significant 38%, even as most traders expect no action by the Fed), we had the week's first two coupon auctions take place according to an abbreviated schedule, with the sale of $69BN in 2Y notes taking place at 11:30am, followed by $70BN in 5Y notes. And while the former was unexpectedly strong, the latter was one...

Iran To Deepen Ties With 'Principal Strategic Partner' China: Ghalibaf Via The Cradle Iranian Parliament Speaker and special representative for China affairs, Mohammad Bagher Ghalibaf, held the first joint meeting with key economic officials on Wednesday to align Tehran's economic strategy toward Beijing. The session in Tehran included the ministers of economy, oil, and industry, alongside the central bank governor and the head of the Plan and Budget Organization. The assembly focused on establishing a unified government approach to elevate bilateral relations and coordinate the administration's economic priorities. During the proceedings, officials evaluated...

Cantor Fitzgerald Slammed Over Tariff Trades Which Never Happened In retrospect, if only Cantor Fitzgerald was called PolyCantor, none of this would have happened. Ever since September, the upstart online betting marketplace PolyMarket has been offering traders the opportunity to make money by betting whether the US Supreme Court would rule in favor or against Trump's tariffs, with millions of bets placed for either outcome (of course, we learned the outcome at 10am ET on Friday, when a 6-3 majority - including two Justices selected by Trump - voted against the...