Death Toll in US-Backed Saudi Strike on Yemen Prison Rises to 23

The Monumental Mistake Of Raising Rates In September Authored by Daniel Lacalle, Three members of the Federal Open Market Committee voted to raise rates in July. However, the Committee held the federal funds target at 3.5%-3.75% by a 9-3 vote. Bank of America, Deutsche Bank, and J.P. Morgan all expect a September hike. Across the Atlantic, the European Central Bank raised rates by 25 basis points in June and is expected to raise them again in September. It would be a monumental mistake. The diagnosis is wrong on both sides of the Atlantic. There...

"Approaching Unheard Of Inventory Levels": Exxon, Chevron Issue Apocalyptic Warning About What Happens Next To Oil Just about two months ago, JPMorgan did the math on "How Long Before The World Hits Crude Oil Operational Minimum." The punchline was that while the market can hold hundreds of millions of barrels, it would still become fragile once working stocks fell too low. Like blood pressure in the human body, the issue is circulation.  Then, approximately 4 weeks later, the bank followed up this analysis with some more math, explaining "Why Hormuz Will...

US PMIs Lead The World As Manufacturing Tops 4-Year Highs, Services Sink Following Japan's ugly PMIs (Services lowest since March 2025) and Europe's disaster (weakest composite EU PMI since late 2023)... ...with prices surging... All eyes are on the US 'soft' survey data for signs of divergence (or contagion). With US 'hard' data improving notably, the preliminary soft survey data for May was mixed with improved performance in manufacturing was countered by a sluggish service sector. Flash US Services PMI Business Activity Index: 50.9 (April: 51.0). 2-month low. Flash US Manufacturing PMI: 55.3 (April:...