UAE Cuts Ties As Iran Warns Gulf States Against Helping Washington; Kpler Says US Navy Gaining Ground In Hormuz

Core US Factory Orders Surged In March To Best YoY Growth Since Nov 2022 Headline Factory Orders rose 1.5% MoM in March (dramatically better than the 0.6% MoM expected) - the best since November. February's data was also revised higher. However, overall, orders were only up 2.1% YoY - the lowest since JUly 2025 Source: Bloomberg Core Factory Orders surge 1.6% MoM (also better than the 1.3% MoM expected) and up for the 5th straight month. That dragged the YoY growth in core orders up 4.09% YoY - the best since Nov...

The News-to-Death Ratio Strikes Again Authored by Carl Henegan and Tom Jefferson via The Brownstone Institute, There is a peculiar arithmetic that governs modern health reporting, one that has very little to do with actual risk. Hans Rosling captured it neatly during the 2009 swine flu episode, when he calculated a “news-to-death ratio” of 8,176-to-1. In other words, for every death attributed to swine flu, there were over eight thousand news stories. Tuberculosis, by contrast, received less than 0.1 news stories per death over the same period. If that sounds absurd, it...

"This May Be Iran's First Misstep - And Proof Leverage Isn't Total" Brent and WTI futures extended declines on Tuesday morning as momentum continued toward an end to the US-Iran conflict. The latest signs of de-escalation include a U.S. waiver allowing some crude and fuel sales from Iran, while Tehran said $12 billion in frozen funds had been released as part of ongoing talks with U.S. negotiators. Both sides have signaled progress so far this week, further eroding the war premium in crude markets as traders begin to price in...