April 10
Harris gives her clearest signal she is mounting a 2028 presidential bid
KR: One of the few things that would make Trump look good.
S&P Oil FX Gold BTC 10Y
S&P is down 0.11% | 13:39
Gold is down 0.06%
10Y is higher in yield by 4.1bp to 4.322%
Natural gas down 0.5% to around $2.65, hovering near their lowest levels since late 2024
May oil is up $0.48 to $98.31. June trades at $90.63. | 13:41
The May/June spread is -$7.68 discount vs -$7.91 yesterday and -$12.44 on Apr 6 before TACO.
CPI 0.9% m/m and 3.3% y/y marking the highest level since May 2024
The rise was primarily driven by higher energy costs which soared 12.5%, with gasoline up 18.9%, due to the war with Iran. On a monthly basis, consumer prices rose 0.9%, the largest increase since June 2022, following a 0.3% gain in February and also in line with forecasts, boosted by a 21.2% jump in gas prices.
Core inflation which excludes food and energy, also picked up though much more moderately, to 2.6% year over year, compared to forecasts of 2.7%. On a monthly basis, core consumer prices increased by 0.2%.
Inflation Was Already Rising Before the War – Now the Real Surge Begins | Arm
The key point here is that inflation is no longer being driven by a single factor, it is embedded across multiple categories, and that is what makes it dangerous. The Federal Reserve is trapped in this environment because inflation is not collapsing fast enough to justify rate cuts, yet the economy is showing signs of weakness.
Yesterday PCE price index jumped by 0.38%, the biggest jump in a year | Wolf
Year-over-year, the PCE price index rose by 2.8%
The energy price spikes from the Iran war hadn’t started yet.
Core PCE inflation was worryingly high in February, but there's a benign reason
In sum, I just can’t get excited about inflation running out of control based on all the data we have in hand.
The U.S. government added $1.2 trillion to the national debt over the past six months, borrowing $163 billion during March alone, the Congressional Budget Office reports. | Insta
He is not just a partner. He gives orders capable of reshaping entire scenarios.
I’m stunned by Netanyahu’s power in the White House. | Wauck
He simply canceled the agreement and kept the war going all day long, while the U.S. lied by claiming they weren’t carrying out attacks, even though their planes were in the air.
Debt Rattle
Plans for automated military conscription during a US national emergency are advancing
WSJ: Greece on The List of NATO Countries That Trump Will Reward
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