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July 27

S&P   Oil   FX   Gold  10Y   BTC   CLZ6
S&P is down 0.15% | 2:36
Oil is down 9% to $82.40
Gold is up $24
10Y yield is lower be 3.8bp to 4.649%
Dollar index is little changed at 101.52
2Y is lower by 2.3bp to 4.329%

The 21st century's version of Dr. Mengele testifies on Capitol Hill on Wednesday
Sen. Rand Paul released an extensive file of Anthony Fauci's diaries--and he's worse than we thought.
Fauci Starting To Think That Maybe Keeping A Daily Perjury Diary Was A Bad Idea | Bee

Trump says US and Israel ‘largely aligned’ on Iran despite reports | AlJz
Saudi Arabia under attack by militia drones launched from Iraq
Saudi Aramco Targeted As Tehran-Aligned Militants Test US-Iran 'Pause' | Zero

Trump says he has ‘plenty of time’ but threatens stronger war if talks fail | Iran

Iran ramps up threats on Ukraine over Caspian Sea attack | NYP
Saudi Arabia, Jordan, and Iraq report drone attacks days after US suspended Iran strikes

The central bank is widely expected to leave the federal funds rate unchanged, although markets currently assign around a 33% probability to a rate hike. Looking ahead, a September increase remains the base case, with traders pricing in nearly an 80% chance of such a move.

Dallas Fed's general business activity index rose to 1.3, up from 0 in June
Durable Goods orders up 0.3%. Non-defense capital goods excluding aircraft up 0.9%
AAA gasoline is up to $4.110 from $3.878 a month ago
This Week: Q2 GDP, personal income and outlays, consumer confidence, trade balance, and employment costs

Tesla Cybercabs and Superchargers Will Act as Mini Cell Towers for SpaceX Starlink | NextBig

The Fair Share Myth and Other Socialist Fables | Turley
In fact, the top 10 percent already pay more taxes than the bottom 90 percent combined. It is simple demagoguery to claim that the wealthy do not pay their fair share when the top 10 percent pay an estimated 75 percent of federal income taxes. The U.S. income tax system is already the most progressive in the developed world, even before additional New York state and city taxes are added in.

Peak Digest
Today’s Digest covers Iran interceptor shortages and Russia/China risks, AI rare book scanning, GE Vernova gas turbines, Biden China blackmail claims, housing affordability crisis, and cancer gut microbiome.

Debt Rattle
Sen. Mike Lee (R-Utah) has openly promised to be the one senator necessary to force a roll call vote exposing who will or will not vote for crucial election integrity legislation just before the August congressional recess.

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