March 11
S&P Oil FX Gold Silver 10Y USM
S&P is down 0.08% | 9:52
Oil is up 2.33%% to $85.39
Gold is downn 0.55% to $5,160%
10Y is higher by 2.8bp to 4.192%
February CPI illustrates where US inflation was before the shock hit | Marc
CPY 2.4% y/y vs 2.4% expected
CPI rose 0.3 percent, seasonally adjusted
Core increased 0.2 percent in February (SA); up 2.5 percent over the year (NSA)
Three ships reportedly were attacked in the Strait of Hormuz and Persian Gulf earlier today.
The G7 leaders will meet to coordinate the release of 300-400 mln barrels of oil from strategic reserves
Oil Tankers Divert To Red Sea. Maritime traffic has not fully collapsed | Zero
US Strikes 16 Iranian Mine-Laying Boats Near Strait of Hormuz: Pentagon | Epoch
The Pakistan Navy’s Regional Escort Mission Puts Iran In A Dilemma | Kory
Strikes expand to US bases and Israeli targets
True Promise waves 35-36: Regional security for all or for none
IRGC: Wave 37 of 'True Promise 4' heaviest since start of war | Alma
US Navy unable to escort ships through Strait of Hormuz: Report
US pulling missile-defence systems from South Korea | Asia
Now, Manila must figure out if it is indeed a strategic partner or just another supply depot
Israel lobbying US to not end war on Iran ‘prematurely’ | AlJz
War On Iran – No. Taking Kharg Island Is Not An Option. | Moon
For decades dimwit U.S. amateur politicians have dreamed of fetching Kharg to thereby get control over Iran’s oil production. Back in 1988, an up-and-coming New York property mogul named Donald Trump was asked about his plans for the future. “They’ve been beating us psychologically, making us look a bunch of fools,” Trump told The Guardian. “One bullet shot at one of our men or ships, and I’d do a number on Kharg Island. I’d go in and take it.”
European natural gas surged above the €50/MWh, over 60% higher since start of March
Gasoline is up 14% YoY. Prices will enter CPI) and PCE released in April | Wolf
Diesel is $4.830 vs $3.667 a month ago, threatening to slow global economic activity | Clima
Diesel futures gained more than $28 per barrel from February 27 to March 10 vs $16 in U.S. crude oil futures
Two-Thirds Back ‘SAVE Act’ To Require Voter ID — And Support Is Bipartisan: I&I/TIPP Poll | I&I
Subcutaneous Microchip Mandates. Chips already exist and have been used in workplaces | Arm
The End of the Anonymous Internet | Arm
Debt Rattle
Nvidia halts H200 production as China backs Huawei AI chips | Asia
Amid rising political tensions between the United States and China and Beijing’s policy of supporting domestic chips.
Humans invented writing to track debts.
The world's first writing system, cuneiform, emerged in Mesopotamia around 3200 BC to record who owed what to whom. Clay tokens for accounting date back as far as 8000 BC. Debt isn't some corruption of a golden age. It's so fundamental to human cooperation that we created literacy because of it.
In five years, America will have more people over 65 than under 18 | Tribe
Americans over 75 are the fastest-growing age group in the country. The worker-to-retiree ratio has collapsed from five-to-one in 1960 to about 2.5 today. Nearly 70% of people over 65 will need long-term care…. Meanwhile, we’re facing a shortfall of direct-care workers and home health aides. The average cost of a home health aide is now over $70,000 a year. A private room in a nursing facility averages $132,000 a year.
Seven letters accomplished what the entire Iranian navy could not.
Identical cancellation notices for war-risk coverage across the Persian Gulf, the Gulf of Oman, and Iranian territorial waters. They withdrew because their London treaty reinsurers, confronting unlimited tail exposure in an active combat zone, could no longer satisfy the 99.5% Value-at-Risk capital charges mandated by the European Union’s Solvency II directive. The reinsurers pulled capacity.
This is not a geopolitical risk overlay. This is the first live demonstration of Actuarial Warfare: a paradigm in which private reinsurance desks, operating under regulatory capital constraints, exercise de facto sovereignty over the planet’s most critical maritime chokepoint more durably than navies, missiles, or executive orders.
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