Korea Picks A $22 Billion Texas Gas Plant As First Down Payment On Its $350 Billion Pledge To Trump

Collateral Damage By Molly Schwartz, Cross-ASset Macro Strategist at Rabobank Negotiations between the US and Iran are going nowhere. In fact, they’re not really even happening at all. Over the weekend, Axios reported that Iran gave the US a proposal to reopen the Strait — not to end the war. The proposal includes extending the ceasefire and an assertion that any conversations about Iran’s nuclear program are off the table until the Strait is open and the US blockade is lifted. The US has not indicated whether it will accept or reject the...

UK Gilt Yields Near 30-Year Highs As Political/Geopolitical Fears Spark Trussian Chaos Anyone has been in the bond markets for more than a minute remembers the fall of 2022 when UK PM Liz Truss was unceremoniously dumped by her own party after serving 45 days in office as the Gilts market collapsed at unprecedented speed amid economic chaos triggered by her 'mini-budget' (and multiple ministerial resignations). The reason we reminisce is that this morning - after a long-weekend closed - UK Gilt yields are soaring once again... to their highest level...

Chinese Supertanker Sails Out Of Hormuz In Rare Exit As president Trump was on his way to China, a Chinese tanker appears to have exited the Strait of Hormuz as it sails toward an area where the US has enforced a blockade, ahead of talks between US President Donald Trump and counterpart Xi Jinping, Bloomberg reported today, citing ship-tracking data showing the VLCC moving south along the eastern side of the chokepoint. The supertanker which sailed past Iran’s Larak island, and into the Gulf of Oman, is Yuan Hua Hu, owned by Cosco, and...