Iran Says Deal With Oman Close, But It Doesn’t Mean the Strait of Hormuz Will Open To All Traffic

Yields Spike As Producer Prices Explode Higher In April After yesterday's hotter than expected CPI (driven in large part by Energy, but seeing some contagion into Services costs), this morning's Producer Price print for April was expected to show a major surge in annual wholesale inflation. With the eight straight monthly increase, PPI rose by a massive 1.4% MoM (vs +0.5% MoM exp) - the biggest MoM jump since March 2022, lifting PPI by a stunning 6.0% YoY (vs 4.8% YoY exp). That is the hottest PPI YoY since Dec 2022... Source:...

US Southern Command said on Sunday night that its forces bombed another alleged drug-running boat in the Eastern Pacific Ocean as the Trump administration continues to carry out extra-judicial executions at sea. SOUTHCOM said the strike killed at least two people and left six survivors, though many survivors of the initial boat strike have drowned […]

White House Reaches Tentative Crypto Regulatory Agreement: Report Authored by Micah Zimmerman via BitcoinMagazine.com, Key senators and the White House have reached a tentative agreement on cryptocurrency legislation aimed at resolving a dispute between banks and digital asset firms over stablecoin yields, according to Politico reporting. The move could clear the way for a landmark crypto regulatory bill stalled in the Senate Banking Committee since January. Sen. Thom Tillis (R-N.C.) and Sen. Angela Alsobrooks (D-Md.) said Friday they have an “agreement in principle” on language intended to balance innovation with financial stability. The legislation...