March 2
It's the first day of school in Punta del Este.
WSJ Al Mayadeen Sputnik Times of Israel
Trump says the initial projection of four to five weeks for the strikes on Iran can “go far longer.” | RT
The US president says he 'doesn't rule out' sending ground troops to fight in Iran | Cradle
China watching as US missile stocks drain over Iran | Asia
Moscow in Constant Contact With Leadership of Iran - Kremlin | Sput
Is Donald Trump Looking for an Exit Ramp? | John
The Gulf States’ Hosting Of US Forces Actually Made Them Less Safe | Kory
The economic pressure on the global economy is starting to show. | Moon
Neither effect answers the question of why the U.S. did decide to attack Iran. U.S. President Trump has give about a dozen different reasons none of which holds up to scrutiny. Iran wasn’t making nukes, didn’t build intercontinental missiles and had no intend to attack anyone. China is well aware of that the U.S. strategy is aimed against it. It is one reason why it is giving technical and military support to Iran, mostly in the form of intelligence, while avoiding to get directly involved in the conflict:
Killing Khamenei was easy — toppling Iran’s regime is not | Asia
Founders designed Islamic Republic to survive decapitation, and Khamenei’s martyrdom means a hardliner will replace him
S&P Oil FX Gold Silver 10Y USH
Bitcoin is $69,021, up 5% | 13:15
10-Year Yield Surges 10bp
Dollar index is up 0.91%
S&P is up 0.07
Silver prices collapsed over 6% toward $88
Oil is up more than 5.5%
Gasoline is up 2.88%. AAA gasoline is $2.997. Year ago was $3.098
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While the initial strikes on Iran triggered a silver spike to $96.40 , the market’s focus shifted to the economic fallout of the Strait of Hormuz closure, which threatens 20% of global energy flows and risks a deep industrial slowdown. This threat to energy-intensive manufacturing has dampened the demand outlook for silver in the solar and electronics sectors, causing it to underperform gold's relative stability.
Pressure intensified as the ISM Manufacturing Prices Index leaped to 70.5, a 11.5 point jump that signaled reignited inflation and slashed the probability of Fed rate cuts. With the US dollar hitting a five-week high and 10-year Treasury yields climbing, the opportunity cost of holding silver has soared, while liquidations by leveraged futures traders to cover broader stock market losses added pressure.
NFP jobs report on Friday. Before then, ISM PMIs and retail sales
Debt Rattle
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