https://t.ly/3-rWt

Crazy Pills Capital | The Tape is Drunk

https://t.ly/cJb_6

Korean Defense Wave

https://t.ly/oGtGu

This is fine

I know nobody cares because the negotiations are going so great but...

Iran War Framework Update

https://t.ly/G7nTH

https://t.ly/2jZmF

https://t.ly/z1o1Q

The $META chart is ungood...

Markets amirite

If this war has taught me anything - it is that Europeans need to learn how to pronounce TACO.

One thing is clear to me - the gap between the eventual deal readouts from the US & Iran will be wider than the Strait of Hormuz

Sour Strait = Sweet Sugar

https://t.ly/mE15g

If the war does not end very soon - the anti QE fellas like Warsh/Bessent will be wrapping QE in the war flag soon enough unless bonds pivot to pricing a deep recession ASAP (but what does that recession do to the deficit and who has money to buy it)

Per YouGov poll - 23% of independents support the war and 8% support sending ground troops while 85% think the war will continue for at least another month

Headline PCE is not going to be chill in a couple months. Not one bit.

Coming into Focus | Answering Our Own Iran Questions

https://t.ly/ojmm6

Core PCE printing 3.1% before a price shock is uhhh...not ideal

giftarticle.ft.com/g...

I hope Warsh paid all of his parking tickets and taxes and has clean mortgages

STELLANTIS IS SAID IN TALKS WITH XIAOMI, XPENG ON EUROPE DEALS

Iran entered this conflict a weak pariah state - it could exit as an emergent middle power

This is not a 'pinch' - this is a catastrophe

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Great Stuff