August 30
Debt Rattle
Seneca Nation Condemns Trump’s Renaming of ‘Lake Ontario’ to ‘Lake America’
Dr. Fauci’s Disturbing CIA Connection Revealed. Where his protection comes from.
Peak Digest
U.S. drug shortages as a national security issue
More than 50 jurisdictions have canceled contracts with Flock Safety
Hormuz outflows at 6 to 8 million barrels, with Goldman estimating flows at 2/3 of pre-war levels
Will the price at the pump fall in time to help Trump?
AAA gasoline is $4.078 vs $4.099 a week ago
Diesel is $5.603 vs $5.607 a week ago
Feedstock Is Not Fuel: Why Venezuelan Crude Cannot Fix the Diesel and Jet Shortage | John
BTC is $78,657 vs $77,823 on Friday | 9:48 Sumday
News
Icelanders voted against restarting negotiations on joining the European Union in a nationwide referendum on Saturday
Doug Noland Weekly
The Fed Chair delivered an impressive presentation at Jackson Hole. Consistent with hawkish messaging, two-year yields popped a quick eight bps to 4.31%. The yield curve flattened notably, with 30-year yields declining four bps to 5.15% (10-yr yield down 2bps).
The rates market went from pricing 35% probability of a rate increase at the September 16th meeting to 60%, with odds for a hike by October 28th jumping to 92% (from 62%). The market is now pricing two 25 bps increases by next March – with short rates forecast back above 4%.
Mkts 2Y 10Y 30Y
S&P500 increased 0.5% (up 12.7% y-t-d)
Two-year government yields jumped 11 bps to 4.34% (up 87bps y-t-d).
Ten-year Treasury yields slipped two bps to 4.72% (up 55bps).
Long bond yields declined six bps to 5.21% (up 37bps).
Economic data: Employment Situation report and ISM PMIs
Crude oil fell to $83.4 a barrel on Friday, extending weekly losses to about 4%
Europe Heads Into Winter With Gas Storage at a Two-Decade Low | Naked
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