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May 11

The yield on the US 10-year Treasury note climbed around 5bps to 4.4% on Monday, as renewed tensions in US-Iran negotiations pushed oil prices higher and reignited inflation concerns. Sentiment deteriorated after President Trump rejected Iran’s response to his proposal, warning that the ceasefire was on “life support."

The Fed is widely expected to keep the federal funds rate unchanged this year, while investors currently see a 31% chance of a rate hike in March.

Tues: CPI is expected to rise by 0.6% M/M in April (prev. 0.9%)
The core rate is seen rising 0.4% M/M (prev. 0.2%).
Cleveland Fed is 0.45% M/M, versus 0.42% M/M in March

Wed: PPI is expected to rise by 0.4% M/M (cooling from the prev. 0.5%)
AAA gasoline is down to $4.520, 3rd small decline in a row

S&P   Oil   FX   Gold   BTC  10Y
Iran Dismisses Trump’s Criticism of Latest Proposal
Oil Climbs 3.33% | 2:13
Oil traders repricing for a prolonged Strait of Hormuz shutdown

S&P is up 0.36%
Dollar index is up 0.01%
Gold is up 0.16%

Out the window is the Democrats’ scheme to impeach both Mr. Trump and Veep Vance in 2027 so as to install Hakeem Jeffries in the White House. Yeah, really. That was their plan. | Kunst

Arch-neoconservative Robert Kagan conceding U.S. lost war, no way out of dilemma | Moon

Peak Prosperity Digest
* Iran reportedly offered to transfer enriched uranium but refused to dismantle nuclear facilities
* At least 50 people died in Lebanon over 24 hours from Israeli airstrikes
* Global oil inventories are depleting at 4.8 million barrels per day

Debt Rattle
Jonathan Turley reveals how Hillary Clinton directly targeted Elon Musk, urging the EU to weaponize their censorship apparatus of the Digital Services Act to force censorship on X and American citizens after Musk bought Twitter to restore free speech.

* Hard evidence that Donald Trump won the 2020 presidential election is coming, and it’s coming soon
* The anti-Trump crowd. Mark Carney Celebrates “Europe Day” In Toronto with Obama and Alex Soros

The CIA, Barack Obama, Joe Biden and John Brennan | CTH
Debt: It’s a treasure trove by Sundance of what the indictmemts will be based on.


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