BESSENT: THE NEED TO ADDRESS DEFICIT IS ONE FACTOR AFFECTING 10-YEAR TREASURY BOND YIELD
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U.S. CONFIRMS WEAPONS IN ORBIT
The Pentagon has made its strongest acknowledgment yet that the U.S. possesses weapons in space, with Air Force Secretary Troy Meink confirming orbital systems capable of defending U.S. forces.
Space Command called the disclosure a “landmark” deterrence moment amid rising tensions with China and Russia.
The U.S. also recently conducted its largest-ever orbital military exercise, involving multiple satellites and international partners.
(@WalterBloomberg)
The Pentagon has made its strongest acknowledgment yet that the U.S. possesses weapons in space, with Air Force Secretary Troy Meink confirming orbital systems capable of defending U.S. forces.
Space Command called the disclosure a “landmark” deterrence moment amid rising tensions with China and Russia.
The U.S. also recently conducted its largest-ever orbital military exercise, involving multiple satellites and international partners.
(@WalterBloomberg)
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BESSENT: GAS PRICES ARE LOWER THAN THEY WERE UNDER BIDEN
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FRANCE BACKS KNOT FOR ECB PRESIDENT
France would support former Dutch central-bank chief Klaas Knot to succeed Christine Lagarde as ECB president, provided a French candidate receives the powerful chief economist role, Reuters reports.
The proposal reportedly has Macron’s backing, with Pablo Hernández de Cos seen as Knot’s main rival.
Market angle: Germany is expected to resist the deal, setting up a major battle over the ECB’s future policy direction.
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France would support former Dutch central-bank chief Klaas Knot to succeed Christine Lagarde as ECB president, provided a French candidate receives the powerful chief economist role, Reuters reports.
The proposal reportedly has Macron’s backing, with Pablo Hernández de Cos seen as Knot’s main rival.
Market angle: Germany is expected to resist the deal, setting up a major battle over the ECB’s future policy direction.
(@WalterBloomberg)
SAUDI OIL PIPELINE COULD RESTART WITHIN DAYS
Saudi Arabia’s critical East-West Pipeline could resume crude flows within days, according to U.S. Energy Secretary Chris Wright.
The pipeline had been moving 4–5 million barrels per day, roughly 4–5% of global supply, before attacks forced its shutdown.
Market angle: a rapid restart could ease supply fears and remove some of the geopolitical risk premium supporting oil prices.
(@WalterBloomberg)
Saudi Arabia’s critical East-West Pipeline could resume crude flows within days, according to U.S. Energy Secretary Chris Wright.
The pipeline had been moving 4–5 million barrels per day, roughly 4–5% of global supply, before attacks forced its shutdown.
Market angle: a rapid restart could ease supply fears and remove some of the geopolitical risk premium supporting oil prices.
(@WalterBloomberg)
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IRAN CLAIMS HUNDREDS OF U.S. MILITARY SITES HIT
Iran’s foreign minister rejected claims that Iran is defenseless, asserting that hundreds of U.S. military sites have been destroyed and dozens of aircraft damaged.
He claimed the figures were based on Pentagon information and said Tehran will disclose additional details “in due course.”
The claims were not independently verified in the statement provided.
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Iran’s foreign minister rejected claims that Iran is defenseless, asserting that hundreds of U.S. military sites have been destroyed and dozens of aircraft damaged.
He claimed the figures were based on Pentagon information and said Tehran will disclose additional details “in due course.”
The claims were not independently verified in the statement provided.
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*US 20Y BONDS DRAW 5.420% VS 5.400% PRE-SALE WHEN-ISSUED YIELD
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U.S. 20-YEAR TREASURY YIELD HITS 5.42%
The Treasury’s $13 billion 20-year bond auction cleared at a high yield of 5.420%, highlighting elevated long-term borrowing costs.
Demand remained solid, with a 2.57 bid-to-cover ratio, while indirect bidders took roughly $6.8 billion.
Market angle: persistently high long-term yields remain a major headwind for equities, housing and broader financial conditions.
(@WalterBloomberg)
The Treasury’s $13 billion 20-year bond auction cleared at a high yield of 5.420%, highlighting elevated long-term borrowing costs.
Demand remained solid, with a 2.57 bid-to-cover ratio, while indirect bidders took roughly $6.8 billion.
Market angle: persistently high long-term yields remain a major headwind for equities, housing and broader financial conditions.
(@WalterBloomberg)
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CBO SAYS THE WAR IN IRAN COST THE U.S. $38 BLN IN THE FIRST FIVE MONTHS, ADDING THAT ITS ANNUAL PCE INFLATION PROJECTION IS NOW 0.5 PERCENTAGE POINT HIGHER FOR Q1 2027
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NVIDIA CEO JENSEN HUANG: DO NOT NEED NEW LAWS OR REGULATIONS FOR AI SAFETY - SALESFORCE EVENT
NVIDIA CEO: ON AI SAFETY, SAYS COMPANIES SHOULD PACE THEMSELVES UNTIL THEY ARE ARE CONFIDENT THEY ARE RELEASING SOMETHING THE MARKET WOULD APPRECIATE
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NVIDIA CEO: ON AI SAFETY, SAYS COMPANIES SHOULD PACE THEMSELVES UNTIL THEY ARE ARE CONFIDENT THEY ARE RELEASING SOMETHING THE MARKET WOULD APPRECIATE
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OPENAI CFO SARAH FRIAR EMPHASIZES ‘NEED TO TAKE SAFETY SERIOUSLY’ ON AI RISKS- CNBC
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OPENAI CFO FRIAR SAYS WILL PACE THE FRONTIER AND SLOW DOWN IF WE HAVE TO - CNBC
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*VANCE AGREES WAR WILL END AFTER MIDTERMS: NY POST
*VANCE SAYS IRAN WAR WILL ENTER ‘MUCH DIFFERENT PHASE’: NY POST
*VANCE TO NYP: IRAN OCCASIONALLY SHOOTING AT COMMERCIAL SHIPPING
*VANCE TO NYP: US NOT ENGAGED IN AGGRESSIVE OPERATIONS IN IRAN
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*VANCE SAYS IRAN WAR WILL ENTER ‘MUCH DIFFERENT PHASE’: NY POST
*VANCE TO NYP: IRAN OCCASIONALLY SHOOTING AT COMMERCIAL SHIPPING
*VANCE TO NYP: US NOT ENGAGED IN AGGRESSIVE OPERATIONS IN IRAN
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OPENAI ISSUING NEW ENDORSEMENTS FOR WEB OF BIOLOGICAL DATA ACT, AI-READY BIO-DATA STANDARDS ACT, SCALE BIOLOGY ACT - POLITICO
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SEVERAL EXPLOSIONS HEARD ON IRAN'S QESHM ISLAND -IRNA CITING LOCAL SOURCES AS SAYING
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SK HYNIX INC: NO PLANS HAVE BEEN CONFIRMED REGARDING THE REPORTED TALKS BETWEEN SK HYNIX AND INTEL ON MEMORY CHIP PRODUCTION IN THE U.S.
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🇺🇸 WHAT TO WATCH TODAY — U.S. MARKETS
8:30 AM ET — 🇺🇸 Retail Sales
8:30 AM ET — 🇺🇸 Import & Export Prices
10:30 AM ET — 🛢️ EIA Oil Inventories
1:00 PM ET — 🇺🇸 Treasury Auction
2:00 PM ET — 🏦 FOMC RATE DECISION + DOT PLOT
2:30 PM ET — 🎙️ Fed Chair Kevin Warsh Press Conference
🔥 FED — KEY EVENT
The Fed decision and updated economic projections are the main event.
The headline rate decision matters, but markets will focus heavily on the dot plot and the projected path for rates.
Hawkish Fed → yields/USD ↑ → stocks pressured
Dovish Fed → yields/USD ↓ → stocks supported
🎙️ WARSH — 2:30 PM ET
Chair Kevin Warsh’s press conference could trigger a second wave of volatility.
Watch his comments on inflation, oil, the labor market and the path of rates into 2027.
🇺🇸 RETAIL SALES
The biggest U.S. data release before the Fed.
A strong consumer print could reinforce expectations for tighter policy, while weakness could support a less aggressive Fed path.
🛢️ OIL
EIA inventories arrive at 10:30 AM ET.
With crude elevated, a large draw could push oil higher and reinforce inflation concerns.
🌍 GLOBAL WATCH
UK CPI and Eurozone inflation are the main international releases ahead of the U.S. session.
(@WalterBloomberg)
8:30 AM ET — 🇺🇸 Retail Sales
8:30 AM ET — 🇺🇸 Import & Export Prices
10:30 AM ET — 🛢️ EIA Oil Inventories
1:00 PM ET — 🇺🇸 Treasury Auction
2:00 PM ET — 🏦 FOMC RATE DECISION + DOT PLOT
2:30 PM ET — 🎙️ Fed Chair Kevin Warsh Press Conference
🔥 FED — KEY EVENT
The Fed decision and updated economic projections are the main event.
The headline rate decision matters, but markets will focus heavily on the dot plot and the projected path for rates.
Hawkish Fed → yields/USD ↑ → stocks pressured
Dovish Fed → yields/USD ↓ → stocks supported
🎙️ WARSH — 2:30 PM ET
Chair Kevin Warsh’s press conference could trigger a second wave of volatility.
Watch his comments on inflation, oil, the labor market and the path of rates into 2027.
🇺🇸 RETAIL SALES
The biggest U.S. data release before the Fed.
A strong consumer print could reinforce expectations for tighter policy, while weakness could support a less aggressive Fed path.
🛢️ OIL
EIA inventories arrive at 10:30 AM ET.
With crude elevated, a large draw could push oil higher and reinforce inflation concerns.
🌍 GLOBAL WATCH
UK CPI and Eurozone inflation are the main international releases ahead of the U.S. session.
(@WalterBloomberg)
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LAVROV WARNS EUROPE AGAINST ATTACKING RUSSIA
Russian Foreign Minister Sergey Lavrov says Moscow has no intention of attacking Europe, but issued a stark warning against any European strike on Russia.
“If Europe attacks Russia, the war will be short,” Lavrov said, invoking an earlier warning from President Vladimir Putin.
The comments underscore escalating tensions between Russia and Europe.
(@WalterBloomberg)
Russian Foreign Minister Sergey Lavrov says Moscow has no intention of attacking Europe, but issued a stark warning against any European strike on Russia.
“If Europe attacks Russia, the war will be short,” Lavrov said, invoking an earlier warning from President Vladimir Putin.
The comments underscore escalating tensions between Russia and Europe.
(@WalterBloomberg)
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MICHAEL BURRY JOINS NEW SHORT-FOCUSED FUND
“Big Short” investor Michael Burry is joining Minerva Investment Management as senior adviser to help launch a new short-biased fund expected within a month.
Burry has recently targeted AI hyperscalers and chipmakers, criticizing aggressive depreciation practices.
He currently holds bearish positions on Nvidia and Palantir, bringing his growing AI skepticism directly into the new fund’s strategy.
(@WalterBloomberg)
“Big Short” investor Michael Burry is joining Minerva Investment Management as senior adviser to help launch a new short-biased fund expected within a month.
Burry has recently targeted AI hyperscalers and chipmakers, criticizing aggressive depreciation practices.
He currently holds bearish positions on Nvidia and Palantir, bringing his growing AI skepticism directly into the new fund’s strategy.
(@WalterBloomberg)
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*HOUSE DEMOCRATS SEEK BIPARTISAN AI SAFEGUARDS: POLITICO
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U.S. MORTGAGE PAIN DEEPENS AS RATES NEAR 7%
U.S. mortgage applications fell 4.1% last week to their lowest since May 2025, with refinancing applications plunging 8.8%.
The 30-year conforming mortgage rate climbed to 6.97%, while jumbo rates jumped to 7.03%.
Market angle: with market rates still rising, mortgage costs could climb further, intensifying pressure on housing demand and refinancing activity.
(@WalterBloomberg)
U.S. mortgage applications fell 4.1% last week to their lowest since May 2025, with refinancing applications plunging 8.8%.
The 30-year conforming mortgage rate climbed to 6.97%, while jumbo rates jumped to 7.03%.
Market angle: with market rates still rising, mortgage costs could climb further, intensifying pressure on housing demand and refinancing activity.
(@WalterBloomberg)
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