Hello Mr. President, still want to hand out $1.3 trillion in free bribe money?
Bond Yields Surge
The 30-year long bond yield is the highest since Summer of 2007.
Highest Since Global Financial Crisis
Hello Treasury Secretary
AAA Fuel Prices
Another day, another record diesel price. Interestingly the price of gasoline jumpedmore than diesel today.
Crude Prices
- West Texas: $101.35 up $5.25
- Brent: $106.61 up $5.42
Wow,
The price of gasoline and diesel will both jump tomorrow.
Rate Hike Odds
In six days the Fed is going to hike.
I doubt even a good CPI report tomorrow can change that.
For discussion, please see my August 31 post Political Realities May Force the Fed to Hike in September
Change “may” to “will”.
For my opening comment, please see Trump Offers $5,000 Bribe to All Adults if Republicans Hold Congress
Diesel crack spread over WTI is $110 per barrel. Traditionally it was $25. Major diesel availability problem is coming fast. Diesel inventories are very low. Trucks, tractors, construction and minning equipment run on diesel. Not on crude oil.
That was probably the main reason why Kushner&Witkoff comedial duo flew to Moscow and Kiev to perform another circuss show as higher Russian diesel exports would help to reduce the pressure. But neither Moscow nor Kiev agreed to energy and logisitics war truce.
ECB has just hiked by 25bps which cleared the way for FED’s hike.
Buckle up! If a regional war pops off in the Middle East oil will never be as cheap as what it was before Bibi and Trump did their sneak attack and decapitation strike
The calming waters due to Scotty “Checker” Bessent dancing The Twist will soon sooth the bond market. I believe that. In fact, I just took out 10 cash advances on newly acquired credit cards and paid off my 3% 30-year mortgage. Now I only have to make 10 minimum payments a month. What a strategy!!!
Iran will keep attacking infrastructure and China will buy oil in an attempt to push the price of oil, and therefore longer dated bonds much higher than anyone can imagine.
I don’t think a 10 year yield around 6-7% is out of the question if oil surges toward 200.
I think getting rid of Trump is the primary objective of both Iran and China. They have the tools to force a democratic majority in both the house and senate. It’s much easier than fighting the US on the battlefield.
The markets are still relatively calm because of their staunch beleif in ‘Trump will never let the markets go down.”
But what if Trump is gone?
Unless he dies of natural causes, or suffers a stroke rendering him a veggie or a successful assassination, Trump ain’t goin’ nowhere. And China has fully realized Trump is the doofus who will give them the keys.
Rate hikes? The won’t and can’t.
The better and more effective way to tackle price inflation would be for Operation Shock-and-Awe (or whatever it is) in the Persian Gulf to JUST GO HOME
It’s Operation: Epstein Who?
Lest we forget.
Keep flushing those ayatoilets.
Crashing the economy will cut rates and gas prices
After the election (and the nuke attack on Iran when his majestys madness fully sets in)
Vance better engineer the 25th the instant Trump calls for a nuke.
Of course Trump still wants to hand out the money. The big problem is that his team now needs to work out the granularity. They will probably want to bring Musk back in due to his expertise in this area in Wisconsin. It was silly to make the hand out contingent on Republicans winning the House and Senate in general and then giving money to everyone. Blue states and districts shouldn’t get a dime. Now he needs to figure out how much he gives to each resident of a state that elects a Republican senator and how much to each resident of a congressional district that elects a Republican. Live in a blue district / state? Nothing for you. Just when you think it has gotten as bad as it can get, it gets worse.
No need to plan squat: it’s just King Chaos the Shit Talker flapping his gums.
The only question is when to double down…
and propose $10,000 that you’ll never get.
Looks like a republican debacle for the mid-terms as the impact of taco’s ill-fated policies have come home to roost. All his bs gift plans and etc. will be useless as Americans are feeling the pain from this clown’s actions. Time for CHANGE.
Yeah, can’t wait for change like America Rescue Plan and Inflation Reduction Acts. Face it, a large enriched swath of the population doesn’t want prices to go down because prices also means homes and stocks. It’s clear the Republicans didn’t improve inflation…but what you missed is the Democrats didn’t either. Until we stop spending massively more than we take in inflation will persist. Bribes come in all forms and the 2 bills I mentioned were full of them.
Putting 10 tankers in the bottom of the Gulf surely ain’t gonna help. (no one seems to care about environmental impacts, just their precious price of gas/diesel)
Ukraine and Russia wiping out refining capacity ain’t helping.
The world looks closer to global conflict than ever as the gentrified monied class is gonna fight deflation kicking and screaming. Thank God we are seeing a hint of bond vigilanteism.
God we need a comeuppance.
You are correct that Biden didn’t help inflation but at least the country got a huge, desperately needed infrastructure improvements in return.
I am not sure that it was the best time but where we are there will never be a good time.
Inflation reduction Act – love it. I don’t hand out Mishelin awards but you deserve one
It was extremely clever of Trump to pull out all the stops to delay this reality setting until mere weeks before midterms. Another masterful chess maneuver of the 18th dimension!
Looks like Trump’s plan to bring gas prices down is to bomb tankers. That should work.
I figured he’d be at least smart enough to try to steal the tankers, but I guess he’s afraid of what happens when China runs out of patience with that.
meanwhile: ADEN, Yemen (AP) — The Iran-backed Houthi rebel group on Thursday took over Yemen’s port city of Mokha, an area vital to controlling shipping through the Red Sea, Houthi and Yemeni officials said. https://apnews.com/article/yemen-iran-houthi-rebels-red-sea-mokha-e4e799701b382799a955969c212800ea
The hooties are about to shut down another straight.
Truly long term thinking.