The US Is Forcing Others To Take Sides, As Is China

Treasury Refunding: No Changes To Auction Sizes; Bessent Keeps "At Least" In Forward Guidance In our preview to this morning's Quarterly Refunding Statement, we said that we do not expect major changes and that, at most, the treasury might adjust its statement language to soften the forward guidance on possibly futures increase in coupon auction sizes with one likely change would be dropping “at least” while retaining the expectation for unchanged coupon sizes over “the next several quarters” (recall Deutsche Bank said it expects nominal coupon increases beginning in February 2027).  Overnight, JPMorgan agreed,...

The Democratic Party Is Dead, Long Live The Jacobins! Authored by Victor Davis Hanson via American Greatness, For the past century, the agendas of the Democratic Party were predictable. They professed concern for working Americans and supported blue-collar unions. Unemployment insurance, a 40-hour work week, disability insurance, and Social Security were their trademarks—often rapidly achieved by growing government bureaucracies and continually raising taxes. Still, many Democrats were socially conservative. By the 1970s, Democrats still deplored antisemitism. Party officials had rejected their own segregationists to champion civil rights. Presidents like Franklin Roosevelt, Harry Truman, and...

25 Years Later, Air Travel Still Bears The Imprint Of 9/11 Authored by Jeremy Lott via The Epoch Times, The terror attacks 25 years ago this week had enduring costs for America's commercial aviation sector. Today's domestic fliers are on balance worse off for it, with higher costs, fewer choices, and more delays. That's because, on Sept. 11, 2001, men who were part of the al Qaeda Islamist terror network bought tickets and boarded four passenger planes out of Boston, northern Virginia, and Newark, New Jersey. Once airborne, the 19 terrorists hijacked those planes...