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September 19

News
Iran says it wants Saudi-Yemen war to end as airstrike hits Riyadh airport || Iran
Yemen’s Houthis Claim Attack on Saudi Capital After Fuel Depot Burns at Airport
Iran’s security chief says conditions for ending war sent to US via Qatar | AlJaz

American, United and Southwest have all confirmed they are pulling flights out of their schedules | John
A Most Severe Diesel Crunch Will Soon Hit Europe | Moon
Diesel and jet fuel are not cousins. They are rivals for the same molecules
AAA Diesel is $6.486 vs $5.504 a month ago

Upcoming Trump–Xi Summit Is Really An AI Summit | Zero
Data: preliminary September PMI and and durable goods
Marc: There is a wide divergence between the Atlanta Fed's GDP tracker, which sees growth accelerating to 5.1%, and the Bloomberg survey of economists, where the median forecast is for 2.5%.

Today’s Peak Digest
Diesel squeezes, refinery outages, trucker strikes, Pakistan rationing, Hormuz extended closure, Russia sanctions, Greenland pact, AI risks including a war scare, vaccine flaws, and mast cell syndrome.

Trump lands Greenland security deal for zero dollars and a few hundred mean tweets
Here’s why the deal quietly removes the biggest practical barrier to America walking away from NATO, and why Europe’s bargaining position just got a lot colder.

Debt Rattle
The United States, Denmark, and Greenland signed a permanent agreement Friday that hands Washington lasting military rights across the island while permanently shutting out China, Russia, and every other non-NATO adversary.

Trump Just Located New Bases for U.S. Military Projected to Exit NATO | CTH

North American military bases will essentially look like this:

Credit Bubble Bulletin
Kevin Warsh was masterful. Warsh is resurrecting sound central bank principles – assembling the building blocks of a robust analytical framework. But will he backpedal at the first sign of trouble?

This Week in Pictures

Mkts  2Y  10Y  30Y
Oil prices fell 0.5% on the week to below $100, down Friday for a third consecutive session

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