May 20
S&P Oil FX Gold 10Y TW$ CLZ26
S&P is up 1.01% | 3:37
10Y is 4.572%, lower by 9.9bp
Oil is down $5.88
Oil prices slid hard after Trump said negotiations with Iran are in the “final stages”
CLZ26 is up 43% ytd
Gold is up $59
AAA gasoline touches recent high: $4.555 vs $4.511 a week ago
Global Bond Rout Eases. Investors await Nvidia earnings, SpaceX IPO filing
30Y rose by 5bp on Tuesday, and by 23bp over the past 7 trading days to 5.19%, highest since 2007 | Wolf
IRGC Navy says 26 ships passed through Hormuz in the past 24 hours under its coordination | Press
Schlitz beer is no more. It was based in Milwaukee starting in 1849
Schlitz became the largest beer producer in the U.S. by 1902.
After Prohibition, Schlitz returned to its role as a leading brewer in the U.S.
KR: A beautiful, 60-year old Milwaukee heiress lived next to my NJ farm.
Minsi had a glamorous friend, Mitzi, who was also a Milwaukee heiress.
Minsi and Mitzi were WAVES naval flyers based in Florida during WW2. (Not their photo)
Their tales about JFK while he was based in Florida were very amusing and a bit shocking.
U.S. And China Dismiss British Disinformation | Moon
The FT has strong relation with the British intelligence services. | Moon The FT has strong relation with the British intelligence services. It is owned by the Japanese Nikkei Inc – a media conglomerate well known for its intimate relation with the Japanese government and Japanese industries. Its general anti-China tone derives from there. Another favored fake news outlet is Reuters which today is also trying to disturb the China-Russia summit.
Russia Hints Strikes on NATO 'Decision-Making Centers' After Drone Provocations | Simpl
Russian SVR intelligence service: "It is worth noting that the coordinates of decision-making centers on Latvian territory are well-known, and the country’s membership in NATO will not protect the terrorists’ accomplices from just retribution."
Trump Represents Zionism Not America | PCR
Trump and his Zionist backers have driven the penultimate loyal American Thomas Massie out of Congress
Peak quotes AIPAC: Our community was proud to help pro-Israel candidates win these races.
Massie: “I had to call my opponent and concede, and it took a while to find Ed Gallrein in Tel Aviv.”
Trump’s personalist rule over the MAGA GOP, meanwhile, is increasingly bound up with the pro-Israel cause. And indeed, it was just these two forces — MAGA and pro-Israel hard-liners — that came for Massie, a principled libertarian in the Ron and Rand Paul mold, who opposes the war with Iran and has called for cutting all foreign aid, including to the Jewish state. | UnHerd
Reason: Thomas Massie Loses, Proving That Deficit Hawks and Foreign Policy Doves Aren't Welcome in Trump's GOP
John Cornyn’s Failure To Fight For The SAVE Act Cost Him Trump’s Endorsement | Fedrl
Democrat-Aligned NGOs Are Trying to 'Save' Memphis From Elon Musk's xAI | A.Muse
Based on the national press coverage, that Elon Musk’s supercomputer company is the latest in a long line of corporate predators. The opposite is true, and the numbers are not close. Consider what xAI is actually building.
Iranian state television and public demonstrations have featured live instruction on assembling and firing AK-47 rifles for civilians. The Islamic Revolutionary Guard Corps announced the seizure of a large shipment of U.S.-made weapons and ammunition near the Iraqi border that it said was intended for Kurdish groups. | Peak
Tehran’s foreign ministry declared that nuclear enrichment is "a right that already exists" and cannot be negotiated. That position has held through the JCPOA years, through two military campaigns, and through the death of its supreme leader. Trump demands zero enrichment. Iran will not accept it. The gap is not bridgeable through diplomacy. A deal Iran rejects is no deal. A deal Iran signs, by definition, preserves enrichment. That is not the outcome the administration says it wants. | MTick
Trump Wants to Attack Iran, But Does Saudi Arabia Hold the Keys? | John
If Saudi Arabia renews its objection to the US using Saudi airspace or bases to launch a new attack on Iran, Trump may be forced to cancel the planned strikes, which many believe will take place later this week. Iran is not attacking its Gulf neighbors despite the claim earlier this week that Iranian drones hit near a nuclear power plant in the UAE. The drones reportedly were fired from Iraq. I believe this was a false flag by Israel in an attempt to incite the UAE and Saudi Arabia into joining the planned attacks on Iran.
MSNOW Host Raises Concern Over Speaker Johnson Expressing Belief in Natural Rights | Turley
The Declaration of Independence (and our nation as a whole) was founded on a deep belief in natural laws coming from our Creator, not government. Ours was the world’s first major Enlightenment revolution based on those very natural rights.
That view is captured in the Declaration, which states, “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
Debt Rattle
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