Massachusetts Mayor Charged With Using COVID Loan For Election Campaign, Debt Payments

The Pentagon has told Congress that it needs $80 billion to pay for the Iran war and other non-war-related costs, The Wall Street Journal has reported. The Pentagon had previously claimed that the war cost $29 billion as of mid-May, a number that doesn’t hold up to scrutiny, as an analysis from Stephen Semler of […]

Futures Rise As Oil Drops, Bond Selling Slows, Meta Tumbles And Microsoft Soars Futures rebound (for now) following yesterday’s Fed-induced meltdown as the market is clearly questioning Warsh’s credibility and potential usage of non-standard tools to fight inflation, pushing the yield curve to twist steeper and sending 30Y yields to 2 decade highs (last at 5.22%). Pre-mkt, the yield curve is seeing further twist-steepening with 10s and 30s up 1 and 3bp with 2s down 1bp. USD deterioration continues following its worst day in 4 weeks. Commodities are so confused,...

Israel, US Strike Gas Facilities In Iran's Isfahan, Possibly Triggering Retaliation Against Gulf Summary Israel, US strike gas pipeline, distribution station in Iran Trump announces "productive" talks with Iran, "postpones" military strikes for 5 days Iran Foreign Ministry + Parliament speaker say no talks have happened, after Trump said "speaking with a top person in Iran", says will "just keep bombing" if Iran talks fail Trump says Hormuz will be "jointly controlled"; Russia and Pakistan step-up as potential mediators, engage with Tehran; US officials have told CBS News that there are at least a dozen...