Iran "Decision Week": Trump Teases "Easy Way Or Hard Way" As Tankers Burn, Rial Craters And Tehran's Oil Minister Quits

"Reaching A Climax": Hedge Funds Turn Most Bearish On Yen Since 2007, As Former FX Czar Sees 20% Undervaluation For much of the past year, when the USDJPY disconnected - initially playfully and then terminally - from 2Y yield differentials, FX traders have been asking when and how will this gaping divergence finally converge. Alas, that answer remains elusive still, even as the collapse in the yen has pushed the currency to a generational low, and become an increasingly political topic leading to a surge in Japanese bankruptcies, and a...

ADP Employment Reports Shows Better Than Expected Job Gains, Accelerating Wages Hiring and pay gains both held steady in March. The ADP National Employment report printed a better than expected +62k jobs added in March (+40k exp) and modestly down from an upwardly revised 66k in February. That is the ninth straight month of job gains. Source: Bloomberg The smallest employers drove job growth for a second month, while hiring in trade, transportation, and utilities continued to decline. "Overall hiring is steady, but job growth continues to favor certain industries, including health care. In March,...

"Doom Loop" Engaged: US Debt Hits $40 Trillion As Treasury Enters The Endgame It took the US 200 years to reach its first $1 trillion in debt. It took 95 days to add its last. After several weeks of build up, today the Treasury announced that total public debt surpassed $40 trillion for the first time, after jumping by over $60 billion in one day, and has now surged by $1 trillion in just over three months, and by a third of the total in less than five years, as US lawmakers...