September 27
News
Trump To Roll Back Costly 'Green' Rules To Drive Down Car Prices | Zero
Hormuz Oil Flows Rebound To Two-Thirds Prewar Level As Iran's Grip Erodes | Zero
Five arrested in suspected terror plot at UK base used for Iran strikes | Iran
7 + 2 = ___ + 6
NYT defends UC’s decision to stop considering SAT scores.
Would Honest Speech About IQ End the World? | Sailer
Nobody, after generations of well-funded research, seems to have many effective ideas for how to close most of The Gap.
Democrats Favor a Military Coup, 43% View Socialism Positively, and AI Agents go Rogue
Speaking of central planning, Senator Chris Murphy, while promoting a book, said government should regulate the internet so people spend less time alone on Instagram. He argued that lonely, powerless voters are more likely to choose Donald Trump.
Insta
Rochester General Hospital hired 82 resident doctors. 80 are foreign workers on. Only 2 are Americans.
25% of US physicians are NOT American
Debt Rattle
Supreme Court Grants States Ability to Verify Voter Status in Midterms
Elon Musk CONFIRMS voter database was created by DOGE. This alone makes @DOGE worth it.
Musk: Robot will work 168 hours a week, is instantly at working age, and does not have retirement
Trump showed Xi the picture of an autopen that hangs in Joe Biden’s spot. Xi laughed. CNN Has Meltdown
We Need To Talk About Democrats. People who celebrate political violence cannot be trusted
Democrats supported extreme measures against Americans who refused experimental mRNA “vaccines.”
Leftists show that they hate dissent and debate, the foundations of any free society.
U.K. is heading toward authoritarianism, plans to establish a “National Centre for Information Defence”
The Treatment Was Worse Than the Disease
But history also shows many treatments once thought to be good medicine that are now known to be harmful. Bloodletting is the most famous example because it now seems clearly wrong.
With an expected ~40% of voting age Americans casting ballots this fall and only 10% of them voting mixed tickets, all of the election politics that consumes MSM really targeting only 4% swing vote of the population. | Focal
Cook Political Finally Admits Democrats Likely to Win the House | Mish
Amazon is Raining Boxes. Are You Prepared for the Drone Noise? | Mish
Dollar Bulls may be Challenged | Marc
The greenback has climbed on the sharp rise in interest rates. With the market discounting nearly 100 bp of tightening over the next 12 months, including a nearly 2/3 chance of a hike late next month, a few days ahead of the midterm election, we suspect the pendulum is unlikely to swing much further.
The Dollar Index recorded a low this month on September 9, nearly 95.60. It reached almost 101.40 on September 24, its highest level since late July. Since September 9, the US two-year yield rose almost 40 bp. The Fed funds futures are pricing in almost four more Fed hikes over the next 12 months. This is more aggressive than any Fed official
Long-Term Treasury Yields Rise to 5.5%, Mortgage Rates to 7.5% | Wolf
It would make sense for the bond market to take a breather here and digest a little. But the dynamics are in place for yields to rise further.
Crude oil eased to around $92 a barrel on Friday after Iran called on the US to return to an interim peace deal that failed to end the war over the summer. The US oil benchmark is down around 7.4% on the week.
Investors currently expect the Fed to raise the federal funds rate by 25bps next month, with the probability of such a move standing at around 66%.
A busy week of economic data in the US includes the September jobs report, alongside FOMC consensus that the labor market remains at full employment. ISM PMIs, personal income and outlays, and PCE price indexes are also due.
Early NFP estimates suggest hiring slowed to a little less than 110k from 162k in August.
Bloomberg's survey anticipates the unemployment rate to tick up to 4.2% from 4.1%
Cleveland Fed sees Sept CPI up 0.50 m/m and 3.57% y/y
Cleveland Fed sees core CPI up 0.20 m/m and 2.39% y/y|
Mkts 2Y 10Y 30Y
10Y yield is lower by 4.0bp to 5.165% | close
S&P is up 0.53%
Crude oil is down 2.27% to $92.46
Gold is up $9 to $4,283
Dollar is 101.03, down 0.25%
Agronomy is a branch of agricultural science focused on field crops.
Agronomy emphasizes the cultivation of major food crops such as wheat, corn, and soybeans
It involves studying soil properties and managing soil health to optimize plant growth
Agronomists apply knowledge from genetics, plant physiology, and ecology to improve varieties and farming practices
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