Iran Reportedly Gave Hezbollah $200 Million to Help Lebanon’s Displaced

Ugly, Tailing 20Y Auction Prices At 2nd Highest Yield On Record; Would Have Been Highest If Bessent Hadn't Panicked After today's stunning announcement by the Treasury it was doubling the size of long-end buyback operations to boost liquidity in the space, many were closely watching today's 20Y auction - which is viewed as the proximal catalyst to trigger Bessent's panic as it was going to price at the highest yield in the history of the 20Y auction - to see how much demand there was for this key paper. As...

"Emergencies" Requiring Coal Plants To Stay Open Need Not Be Imminent, DOE Tells Court By Ethan Howland of UtilityDive The U.S. Department of Energy’s secretary has broad authority under the Federal Power Act to declare emergencies to keep power plants from retiring, and those emergencies don’t have to be imminent, DOE told a federal appeals court last week in response to challenges over its orders keeping a Michigan coal plant online. “The statute’s text grants the Secretary discretion to determine that an emergency exists,” DOE said in a March 17 brief...