Trump Says He’s Rejecting Iran’s Seven-Day Proposal To Open the Strait of Hormuz and End War

White House Suspects NY Times Reporters Have Situation Room Recordings Senior Trump administration officials are convinced that two New York Times reporters have somehow obtained recordings of White House Situation Room meetings, which would represent an astounding breach of security, Axios reported on Sunday.  "We're afraid some of our most sensitive conversations were being recorded," a White House official told Axios. "And we have no idea which ones."  The White House Situation Room hosts some of the most consequential conversations on Earth  The two journalists are Maggie Haberman and Jonathan Swan, and the officials...

FOMC Minutes Tilt Hawkish: 'Inflation Risks Skewed To The Upside' Due To AI While today's market moves (post-Bessent's OpTwist bailout) are changing things rapidly, since the last FOMC meeting, on July 19th, where Warsh held rates (hawkishly) unchanged (in the biggest surprise to market expectations in decades) amid multiple dissents, gold, bitcoin, and oil have outperformed, the dollar and bonds have lagged, with stocks solidly green in the middle... And rate-hike expectations have plunged, erasing the hawkish shift since Warsh's first Fed meeting (thanks mostly to weak macro since the meeting)... With...

Give Them An Inch... By Bas van Geffen, senior macro strategist at Rabobank Talks between Iran and Oman on the reopening of Hormuz are reportedly inching ahead, as Iran continues to give the US the silent treatment. Negotiators said that a deal to establish a safe shipping route was close, but Iran may now be exploring just how much it can extract from the US in return. Last week, Iran had already said that any deal with Oman would be contingent on the US lifting its blockade of Iranian ports. On...