Thursday morning
#headlines recap
Bond market break. 10Y above 5.13%, highest since the run-up to the GFC; 30Y closed 5.40%, highest in 22+ years. The 5Y auction stopped at 5.033% vs 5.002% WI, a 3.1bp tail, second-biggest on record. TLT closed at the lowest price in its history since its 2002 launch. Japan and France see similar trajectories. *Finbros feel free to add your comments. My take: this is what it looks like when the nation that backs the world reserve currency becomes so retarded that other nations’ confidence in that nation and its currency collapses.*
Hormuz: another vessel burning, and the US rejects Iran's reopening offer.
Brent recovered from near $98 to near $104 after Hormuz reopening talks and Saudi pipeline restart hopes faded into oblivion.
Diesel export ban floated, denied, dead inside four hours. Politico said a 90-day ban was being prepared; US diesel futures -7%, European diesel +7%. Energy Sec Wright said it "would not work" and would raise gasoline and jet fuel prices; a White House official called it "fake news”. The entire US energy industry plus the Chamber of Commerce and NAM sent a joint letter to Trump opposing export limits - unprecedented for a Republican White House. Meanwhile Grassley meekly remarks that “oil companies shouldn’t charge so much”. *I’m sure someone on Team Trump played that 7% dip, and Grassley is either senile or being extremely disingenuous. *
Eight attempted suicides in the USS Abraham Lincoln strike group. Confirmed by the Navy; a letter obtained by CNN describes six sailors trying to jump overboard, food shortages, water contamination, no hot water, no port calls, constant alerts. A military official says recent carrier deployments averaged one or two attempts per year. *Behold your DEI military. The jews’ war on Whites destroyed the only military that could and would protect them. OTOH less us hope these sailors are overwhelmingly brown. *
Moscow’s focus on destroying Ukrainian trains is accelerating: they have damaged or destroyed more than 500 locomotives since the full-scale invasion began in 2022; more than 60% of them have been hit in the past eight months. Ukrainian Railways now losing as many as 40 locomotives a month. Part of the acceleration is due to Russian advances in drone tech where the drones create a mesh network and send intel to each other. *Too bad they didn’t target the one Boris Johnson was riding on…*
At a recent UN session Russia’s Lavrov reiterated for the umpteenth time that Russia - after having learned a “bitter lesson” - will no longer entertain any kind of ceasefires for the duration of negotiations as is currently being offered by the West. Zelenskyyy and his fellow puppets have been agitating hard for a ceasefire so they can rearm, and even held a press conference with European leaders wearing stern expressions on their faces. *They should just write strongly worded letters and save all the travel hassles. *
Xi landed at Joint Base Andrews; Trump and Xi speak at the state dinner 7:55pm Thursday. Trade truce extended to January 10, 2027. One bargaining chip: China is holding sensitive F-35 parts diverted to Hong Kong; the Pentagon says it is working to retrieve them.
Every European automaker lost share in Europe in August; Chinese domestic brands +478bp, European mass-market -414bp. *European car companies, EU bureaucrats, and their collective hubris have mortally wounded that sector, and it might just wind up going the way of the extinct British car industry.*
Only 7% of voters rank data centers as a top political issue - worth holding next to the "AI panic is about the midterms" framing. *We know that polls are often just thinly veiled propaganda, but I would say that people tend to care less about these kinds of things when they are struggling hard to pay for food, fuel, and shelter. *
*Editor’s note: lots of stories simmering about THE GOYBEAM, but nothing specific beyond what is already known: the US gov or some entity above it has directed energy weapons and they aren’t hesitant about using them on the populace. It is noteworthy that Catherine Herridge - who does a lot of this reporting - is looking really bad lately, like she might be getting the worst of it.*
AP runs a story on Trump admin reviewing visas, a reader does the math and comes out with 1 in 6 people in this country are here on a foreign visa. *Cool, now count the illegals… *
Headline: Austin Police Bodycam Footage Debunks Claims Made by the Illegal Alien Shot by ICE Officer. *He claims they yanked him out of the car after he was shot, footage showed he was gently helped from the car. Hey, at least they shot him though, a win is a win. *
***Be sure not to run out of smiles today frens… ***
