August 10
News
The S&P 500 lost 0.1% amid growing doubts that a lasting resolution to the conflict with Iran is near.
A rally in oil prices pushed bond yields higher on concerns over energy-driven inflation. Higher energy costs raised fears that the Fed may need to raise rates this year despite a cooling labor market.
Mkts 2Y 10Y 30Y
Oil is up over 5% to $82.16 | 5:50
Gold is up $48
AlJz
Trump to demand compensation from Iran; Tehran says Oman talks progressing
Iran
Iran parliament advances Hormuz bill targeting US, Israeli transit
AAA
Gasoline is $4.009 vs $4.095 a week ago
Wednesday: Consensus CPI to rise by 0.1% M/M and core rate to rise by 0.2% M/M
Cleveland Fed sees headline CPI at .09 m/m and 3.42 y/y. Core .21 and 2.52
Also: PPI, retail sales, and Michigan Consumer Confidence
Russia Truth
The Odessa Grid Collapse: Russia Blasts Energy System - Cuts Road & Rail Links - Sea Assault Coming
This systematic dismantling of municipal energy and rail infrastructure—occurring alongside a total maritime blockade—signals potential preparations for a combined assault against Odesa.
RT
Russia rules out Ukraine conflict ‘freeze’.
Peace can only be achieved by addressing the “root causes” of the hostilities. Russia’s demands include Ukraine abandoning its plans to join NATO and adopting neutral status, accepting restrictions on its armed forces, and formally recognizing Crimea and four former Ukrainian regions as Russian territory.
Debt Rattle
* Scott Bessent: In 2 years pipelines will suck 50-70% of oil that currently flows through Hormuz
* Extreme leftists and white, female, overeducated, urban communists have one primary prism:
How Obama-ish is their candidate?
Mish
Treasury Secretary Says the Strait of Hormuz Will Be Irrelevant in Two Years
OK. So What Are We Fighting For?
It’s pretty ugly for the youth demographic. | Kunst
College for them turned out to be a life-altering swindle, burdening the young with unpayable loans that can’t even be escaped via bankruptcy. Even the sex angle was ruined by vindictive feminism and the trans fad. Work is scarce and it’s nearly impossible to make a living at it, that is, pay for food and a roof over your head (and, ugh, those loan repayments!). Plus, work is mostly found only in meaningless service to despotic corporations.
John
Is Donald Trump Serious About Declaring Victory Over Iran?
According to the Wall Street Journal, a White House official said that the U.S. has “completed all of its military objectives against Iran,” and the president’s focus is now on “securing the flow of the world’s energy through the Strait of Hormuz.” The reporting suggests Trump is patient and expected to ride out the latest diplomatic snarl, especially so long as gas prices remain where they are.
The Accidental Iconoclast: Part 1
How Trump’s Strategic Folly Unravelled the Globalist Architecture.
The Accidental Iconoclast: Part 2
US statecraft has managed to deliver the worst of both worlds
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