Every dossier, on file.

5 Nov 2026 London Raised Rates After The Dollar Hit A Five Week Low The Bank of England raised rates to 4 percent in an 8-1 vote on Thursday. A day earlier the dollar index fell to a five-week low and gold jumped. Friday brings the US jobs report. 4 min read 4 Nov 2026 Iran Claims Four Tankers Are Burning And No One Has Confirmed It The IRGC, Iran’s elite force, says mines destroyed four tankers south of Hormuz. No outside source had confirmed it by morning. Treasury left its auction sizes unchanged. 5 min read 3 Nov 2026 Treasury Named The Size Of Its Borrowing And Wednesday Names The Mix Treasury published its borrowing estimate for this quarter and the next on Monday. The refunding statement that says how it will be funded is due Wednesday at 8:30 a.m. Eastern. Americans vote Tuesday. 4 min read 2 Nov 2026 Oil Fell On Talks And The Ships Were Still Being Hit Brent fell nearly 6 percent before the open on reports of Iran talks in Qatar. Over the weekend a vessel was struck in the Strait of Hormuz and OPEC plus left output unchanged. Americans vote Tuesday. 5 min read 30 Oct 2026 Two Giants Spent More Than They Took In And The Index Felt It Alphabet and Amazon both reported spending that outran what their operations produced. Intel fell more than 25 percent in early trading and the Nasdaq opened at its lowest in over two months. Thursday, most stocks rose while the index fell. 5 min read 29 Oct 2026 The Fed Held Still And The Two Year Treasury Sits At 4.7 Percent The Fed held 10 to 2 on Wednesday, with two officials wanting a hike. This morning BEA put September PCE inflation at 3.6 percent and third-quarter growth at 3.4 percent. Futures see a December hike near 85 percent. 6 min read 28 Oct 2026 The Floating Oil Is Gone And The Gulf Has Been Warned The Wall Street Journal reported that Washington told Gulf states to prepare for a short, intense Iran campaign after the midterms. Kpler data show the oil Iran kept afloat for China ran out in October. The Fed decides at 2 p.m. Eastern. 5 min read 27 Oct 2026 Seventy One Basis Points Above The Fed Monday two-year Treasury auction cleared 71 basis points above the top of the Fed range, with demand a little below average. A five-year sale follows today, a day before the Fed decides. 5 min read 26 Oct 2026 Brent Fell On A Flight To Tehran And Not A Barrel Brent settled Friday at $116.72, its highest close since 29 April, Reuters reported. By early Monday it had slipped to near $115 as mediators flew to Tehran. One analyst quoted called it positioning, not supply. 5 min read 23 Oct 2026 Money Fled Stocks For Treasuries And Left Gold Behind The 10-year Treasury yield fell 19.3 basis points on Thursday, Reuters reported, the most since March 2023. Comex gold settled down 2.12 percent at $4,042.80, Dow Jones reported. Brent settled at $113.17, Reuters reported. 6 min read 22 Oct 2026 Washington Is Moving Families Out Of Saudi Arabia While Its Oil Cushion Thins The State Department ordered some diplomats and family members out of Saudi Arabia on Wednesday, Reuters reported. US commercial crude stocks stand at 412.5 million barrels, EIA data show. Brent settled at $108.82 on Wednesday. 7 min read 21 Oct 2026 Kharg Has Sat Empty Since August And Tehran Is Watching The Calendar Bloomberg reported no tanker has docked at the Kharg Island crude terminals since late August. Reuters reported Iranian officials are dragging out talks past the 3 November vote. Brent settled at $109.11 Tuesday. 5 min read 20 Oct 2026 The Fed Calls AI A Shock While Seoul Sells The Chips Fed Chair Warsh called AI investment a shock to prices, Reuters reported Monday. Seoul closed down 3.73 percent Tuesday as chip stocks fell. Brent touched $111.75, its highest since May. 5 min read 19 Oct 2026 The Waiver Has No End Date And The Diesel Has Two Start Dates Friday the White House waived Russia penalties with no end date written in. Reuters gives two start dates for the diesel. Brent slipped Monday from its highest settlement since May. 5 min read 16 Oct 2026 Paper Oil Sits At 106 While The Physical Barrel Is Near 130 Brent futures settled at 105.92 dollars Thursday. Dated Brent, the physical benchmark, is near 130, Bloomberg reported. Producer gasoline rose 20.3 percent in September, and the Fed chair would not say what comes next. 6 min read 15 Oct 2026 Gasoline Printed 34 Percent And Seoul Halted Trading Seoul halted trading Thursday as the Kospi fell 7.57 percent. A day earlier US consumer prices rose 3.7 percent on the year, and gasoline 34.2 percent. Reports tie the two together, and the Fed meets in thirteen days. 5 min read 14 Oct 2026 Two Exits For Saudi Oil And Both Are In The Attack Record Aramco headquarters was reported struck overnight, and the Houthis claimed it. Saudi crude leaves by Hormuz or by a pipeline to the Red Sea. Both routes are in the attack record. 5 min read 13 Oct 2026 Bonds Reopen A Day Before CPI With A Buyer List Nobody Published Last week the Treasury sold $39 billion of 10-year notes at 5.30 percent, the highest since 2000. Indirect bidders took 80.3 percent. Tomorrow’s CPI hits a bond market that just reopened. 8 min read 12 Oct 2026 The Pledge Did Not Cover Riyadh An attack on Riyadh's airport killed at least twelve. Brent is back near $106 and the president is talking about joining a campaign, not holding one back. The promise dated one risk and left the others open. 8 min read 9 Oct 2026 A Post Took Out The Premium. The Storm Has Numbers. Brent gave back much of a $5.70 spike after Trump ruled out strikes on Iran before the midterms. The week nets out flat. Isaias is the loss that can be counted. 10 min read 8 Oct 2026 Oil Jumped 5% On A Report. Nothing Has Been Struck. Brent topped $105 on a magazine report of strike options against Iran. The attack count is at a wartime high. A Fed governor says the next hike can take its time. 10 min read 7 Oct 2026 Oil Took Back The Whole Drop. The Strait Is Why Brent erased its Tuesday morning fall by the close. The Saudi pipeline figure has not changed. The count of tanker attacks in the strait has. 12 min read 6 Oct 2026 The Saudi Minister Gave A Number. Oil Fell On It. Saudi Arabia put an official figure on its East-West pipeline this morning: 5.8 million barrels a day. Brent fell more than 2%. The attacks claimed around the bypass widened overnight. 10 min read 5 Oct 2026 The Saudi Bypass Was Hit Again. Oil Priced The Calmer Report. A strike claimed on a Saudi pumping station produced two opposite accounts by Monday: one source says the East-West pipeline stopped, others say oil is flowing as normal. Brent priced the second. The Red Sea exit is contested too. 10 min read 2 Oct 2026 Hiring Stopped In September. The Fed Meets In Twenty-Five Days. American employers added 29,000 jobs in September, against forecasts near 90,000. The unemployment rate rose to 4.2 percent. It is the last employment report the Federal Reserve sees before it meets on 27 October, and it lands inside a hiking cycle. 10 min read 1 Oct 2026 China Stopped Exporting Diesel. That Is Why Crude Is Back Above $100. Chinese refiners have suspended October fuel exports to anywhere beyond Hong Kong and Macau. Crude through the Strait of Hormuz is back at its prewar 13.5 million barrels a day. Refined products through the same water are at 677,000. 10 min read 30 Sep 2026 Core PCE Fell to 3.0%. The Ruler Changed, Not the Prices. The August core rate printed at 3.0 per cent against a July figure published at 3.3, but the release carried a retroactive methodology change. Crude exports are back to 98 per cent of pre-war volumes while refined products sit at 58, and diesel is still 70 per cent dearer than a year ago. 10 min read 29 Sep 2026 Brent Fell to $103. Freight Is Now a Quarter of the Delivered Price. The Saudi East-West pipeline is exporting again at about half capacity and crude gave back the Monday spike. But shipping now accounts for roughly a quarter of what an Asian refiner pays for a delivered barrel, against five to six per cent last year, and the ten-year moved two basis points. 9 min read 28 Sep 2026 Trump Rejected the Hormuz Deal. Brent Is Back Above $108. Iran offered to reopen the Strait of Hormuz within seven days in exchange for sanctions relief and an end to the naval blockade. Trump said no on Saturday. Brent rose 4% to $108.48, the ten-year sits at its highest since July 2007, and the PCE index due Wednesday measures August. 10 min read 25 Sep 2026 Core Capital Goods Orders Rose 1.6% in August. The Headline Read Zero. Durable goods orders were flat in August, but the line that tracks business investment jumped 1.6% against a 0.5% forecast. New home sales hit an eight-month high and the Kansas City Fed factory gauge rose to 14. Nothing here gives the committee a reason to stop. 9 min read 24 Sep 2026 The Government Borrowed at 5.033% Yesterday. Four Weeks Ago It Was 4.393%. Treasury sold $70 billion of five-year notes at 5.033%, up from 4.393% in August. The auction tailed 3.1 basis points, bid-to-cover fell to 2.21 and indirect bidders took 54.31%. Dealers absorbed what was left. 8 min read 23 Sep 2026 Orders Fell, Prices Rose, Hiring Rose. The First Survey Since the Hike. Richmond's manufacturing index dropped to minus 2 from 4, new orders to minus 6 and shipments to minus 5, while prices paid accelerated and employment climbed to 7. The Fed moved six days earlier. 6 min read 22 Sep 2026 The Fed Raised the Price of Money. The Quantity Keeps Setting Records. M2 stood at a record $23.218 trillion in July, up 5.4% over the year against a 2% inflation target. The August reading publishes this afternoon, and three Fed officials speak before it. 6 min read 21 Sep 2026 Two Deadlines Eleven Days Apart. Thursday Is the Last Meeting Before Both. Xi arrives in Washington this week. The Busan tariff truce runs out on 30 October and China's rare-earth suspension on 10 November. Nothing else is scheduled in between. 6 min read 18 Sep 2026 Japan Raised Rates to a 31-Year High. The Yen Fell to a Two-Week Low. The Bank of Japan went to 1.25% this morning, 7-2. The yen weakened to 157 and ten-year JGB yields fell. A hike delivered with that much hesitation reads as the end of a cycle, not the middle. 7 min read 17 Sep 2026 The Market Just Priced A Restart Nobody Has Announced Brent fell, yields fell and stocks rallied on an unattributed report that Aramco is targeting half the East-West pipeline within days. Aramco has confirmed nothing. The Bank of England, holding rates the same morning, said energy prices are still pushing inflation up. 9 min read 16 Sep 2026 Yanbu Has Five To Seven Days Of Oil In Storage. Brent Just Fell. Saudi Arabia's Red Sea export terminal is running on stored crude, the pipeline that refills it is still shut, and the kingdom is now routing barrels back through the strait it built the pipeline to avoid. Brent fell 1.5% anyway. 8 min read 15 Sep 2026 The Ten-Year Hit 5%. The Fed Hasn't Moved Yet. The 10-year Treasury yield briefly topped 5% for the first time since 2023 and the 30-year touched 5.38%, all of it before Wednesday's decision. The long end repriced without waiting for permission. 8 min read 14 Sep 2026 Saudi Arabia Shut Its Main Oil Pipeline. Gold Fell Anyway. Drone strikes closed the line carrying four to five million barrels a day, Brent hit a four-month high, and gold dropped below $4,300. The market has decided Wednesday's Fed decision outranks the Gulf. 7 min read 11 Sep 2026 Core Inflation Fell to 2.4%. Gasoline Is Up 27.4%. The Fed Votes Wednesday. August consumer prices held at 3.4% while core cooled to 2.4%, a third straight monthly easing. Energy did all the work in the headline. The committee can argue either case from the same release. 7 min read 10 Sep 2026 Producer Inflation Jumped to 5.4%. The Core Did Not Move at All. Headline producer prices accelerated seven tenths to 5.4% on energy. Core producer prices came in at 4.7%, exactly where they were in July. Consumer prices land tomorrow, six days before the Fed votes. 7 min read 9 Sep 2026 The Treasury Sells Long Debt Today. It Also Starts Buying It Back Today. At 1pm Eastern the Treasury auctions ten-year notes into the highest yields since October 2023. The same day, its doubled long-end buyback programme takes effect. Both settle the morning the Fed convenes. 7 min read 8 Sep 2026 America Has Two Inflation Rates. The Fed Is Bound to the Higher One. Core CPI says 2.5 percent. Core PCE, the index the Fed's 2 percent target is written on, says 3.3 percent. The committee votes on September 16 without an update to the second one. 6 min read 7 Sep 2026 At Midnight the Trade War Becomes Symmetrical. $27.6 Billion Each Way. Canada's counter-tariffs on $27.6 billion of American goods take effect at 12:01 tomorrow morning, matching the US measure dollar for dollar. The Federal Reserve decides eight days later. 6 min read 4 Sep 2026 162,000 Jobs and July Turned Positive. The Fed Just Got Its Cover. August payrolls came in at 162,000 against a consensus near 56,000, and July’s reported 23,000 loss was revised to a 21,000 gain. The revisions went the other way this time. 5 min read 3 Sep 2026 Revisions Erased 103,000 Jobs. The Fed Is Still Priced to Hike. August private payrolls rose 38,000, but education and health alone added 45,000. Strip that one sector out and private employment fell. May and June were revised down by 103,000 between them. 5 min read 2 Sep 2026 $35 Billion in One Contract. How the AI Buildout Is Actually Funded. Anthropic committed $35 billion to Nvidia-backed Lambda for computing capacity, with Nvidia supplying the chips and reportedly holding the lease. The financing structure is the story. 6 min read 1 Sep 2026 Japan’s 10-Year Hit 3%. America’s 30-Year Erased the Treasury’s Entire Rescue. The Japanese 10-year reached 3% for the first time since 1996, gilts hit 2008 highs and bunds 2011 highs. The US 30-year is now 6 basis points from where it sat before the Treasury intervened. 5 min read 31 Aug 2026 Inflation Is Running at 4.1%, Not 3.7%. A Hike Is Now a Coin Flip. Warsh put the six-month annualised PCE rate at 4.1% against 3.7% over twelve months, and said 54% of components are rising above 3%. September hike odds jumped from 35% to 57%. 6 min read 28 Aug 2026 Japan’s Bonds Now Pay 2.90%. That’s a Problem for Your Mortgage Rate. Japan holds $1.203 trillion of U.S. Treasuries and has just stopped needing them. Its own 10-year now pays 2.90%, more than a hedged American one, and mortgages price off the curve it walks away from. 5 min read 27 Aug 2026 Inflation Hit 3.7%. The Treasury Is Still Buying Bonds to Push Yields Down. July PCE came in at 3.7% against a 3.6% forecast, December rate-hike odds now run above 70%, and the Treasury is doubling bond buybacks anyway. Warsh speaks at Jackson Hole at 8:00 Friday morning. 6 min read 26 Aug 2026 Washington Is Refunding $86 Billion in Tariffs. It Just Imposed 50% More. The Supreme Court struck down the IEEPA tariffs in February and $86.3 billion in refunds is already cleared for payment. On Saturday a 1930 statute nobody had used in seventy years put 50% duties on $20 billion of Canadian goods. 5 min read 25 Aug 2026 China Buys 90% of Iran's Oil. The New Sanctions Left It Alone. Bessent promised an economic D-Day, then declined to touch Chinese banks: “Why would I want to blow up the global financial system?” Brent fell 1.9%. Gold is up 36% in a year. 6 min read 24 Aug 2026 The Debt Hit $40 Trillion. Bitcoin Had Its Best Week in Two Years. Federal debt crossed $40 trillion for the first time last week. The Treasury had to bid for its own bonds, yields rose anyway, and bitcoin jumped more than 23% while gold closed at $4,590. 5 min read 21 Aug 2026 A $4 Billion Bond Fix Lasted One Day. The Market Took It Back. The Treasury’s Wednesday buyback pulled the 30-year yield down about 10 basis points. By Thursday it was back near 5.25%, giving back roughly half that relief, while Walmart shares fell 9% on slowing U.S. sales. 5 min read 20 Aug 2026 The Treasury Just Doubled Bond Buybacks to $4 Billion. Yields Fell Overnight. The Treasury doubled its long-bond buybacks Wednesday, from $2 billion to $4 billion per operation, and the 30-year yield fell 7.8 basis points within hours. Gold is already up more than 10% in three weeks on falling rate-hike odds. 5 min read 19 Aug 2026 $1.65 Trillion in Hidden Debt Just Crashed the Chip Sector. Semiconductor stocks fell 5% Tuesday and Oracle’s credit rating has already been cut to one notch above junk. The trigger wasn’t tariffs. It was $1.65 trillion in hyperscaler debt the balance sheets don’t fully show. 5 min read 18 Aug 2026 America's Emergency Oil Reserve Just Hit a 43-Year Low. Bond Traders Already Know Why. The Strategic Petroleum Reserve fell to 298.7 million barrels last week, the lowest since 1983, while the 30-year Treasury yield closed at 5.31%, its highest since 2007. The two numbers share one cause. 6 min read 17 Aug 2026 Washington Says 3.4%. The Factory Floor Says 4.7%. Your Grocery Bill Will Settle It. July retail sales fell 0.6% to $763.6 billion, ending five straight monthly gains, while August sentiment printed 51.0. New York factories reported input prices at 58.6 against selling prices of 22.7. 5 min read 14 Aug 2026 Producer Prices Run 4.7%. The Register Says 3.4%. Someone Pays the Difference. July producer prices were unchanged, yet the narrowest core measure rose 0.4% and the twelve-month rate held at 4.7% against a 3.4% CPI. Hours later the 30-year bond sold at 5.216%. 5 min read 13 Aug 2026 Treasury Sold 10-Year Debt at 4.683%. Your Mortgage Tracks That, Not the Fed. Hours after July CPI slowed to 3.4%, the government sold $42 billion of ten-year notes at the highest auction yield since 2007, then reported a record $432 billion July deficit. 5 min read 12 Aug 2026 Inflation Fell to 3.4%. Real Hourly Pay Fell Too. July CPI rose 0.1% and the annual rate slowed to 3.4%. Real average hourly earnings still fell 0.1% for the month and 0.2% over the year. 4 min read 11 Aug 2026 Intel Priced 210 Million Shares. The AI Bill Came Due. Intel expanded a $15 billion stock sale to $20 billion, pricing 210.5 million new shares at $95. The AI buildout now has a dilution ledger. 5 min read 10 Aug 2026 Payrolls Went Negative. Wall Street Set a Record. The United States lost 23,000 payroll jobs in July while the S&P 500 closed at an all-time high. Two ledgers delivered opposite orders. 4 min read 7 Aug 2026 Oil Rose 3.8%. The Bond Market Sent the Invoice. Brent crude climbed to $82.49 while the 10-year Treasury yield reached 4.67%. One supply shock is now moving both operating costs and the price of capital. 5 min read 6 Aug 2026 Revenue Doubled. Wall Street Sent the Rocket Back Down. SpaceX produced $2.561 billion of AI revenue in the second quarter, then spent $15.828 billion building the machinery behind it. Nasdaq-100 investors now carry the gap. 5 min read 5 Aug 2026 Treasury Kept the Coupon Line Steady. The Bill Line Did Not. Washington will borrow $739 billion this quarter, beginning with a $125 billion three-auction relay that tests how much yield private buyers demand. 5 min read 4 Aug 2026 The Tariff Changed Its Badge. Customs Kept Collecting. Twenty-five states challenged a 10% to 12.5% tariff network covering 60 economies, while fresh federal data showed $309.0 billion of goods entering the United States in June. 5 min read 3 Aug 2026 Oil Fell 5% on a Promise. The Tankers Still Have to Sail. WTI dropped to $80.79 after planned U.S. strikes were halted, while Iran limited talks to a temporary Hormuz passage and U.S. oil buffers lost nearly 11 million barrels in one week. 6 min read 31 Jul 2026 Amazon’s $220 Billion AI Bet Drained Cash - and Lifted Your Index Fund AWS grew 37% to $42.2 billion while Amazon’s trailing free cash flow swung to negative $7.6 billion. The stock surged anyway, exposing how retirement portfolios now depend on the AI spending machine. 5 min read 30 Jul 2026 The Fed Didn’t Hike. The Bond Market Raised Your Mortgage Anyway. The Fed stood still, but the 30-year Treasury hit a 19-year high and mortgage rates climbed toward 6.8%. The real tightening is happening outside Washington. 4 min read 29 Jul 2026 Oil Jumped 7%. Mortgages Hit a One-Year High. The Fed Can’t Save You From Both. Oil is feeding inflation again just as mortgage rates return to a one-year high. The Fed can fight one side of the squeeze - but not without making the other worse. 8 min read 28 Jul 2026 Japan Spent ¥11.7T Defending the Yen. U.S. Mortgage Rates Could Be Next. The yen fell to 163.83 after Tokyo spent ¥11.7 trillion defending it. Now Japan is pushing pension capital home, and the pressure could reach U.S. Treasuries, mortgage rates, and retirement accounts. 7 min read 27 Jul 2026 Oil Fell 8%. Fed Hike Odds Fell to 32%. The Truce Isn’t Signed. Washington paused after advisers warned that targets and munitions were running thin. Iran matched the pause conditionally. Markets bought relief before the terms around Hormuz were settled. 7 min read 24 Jul 2026 30-Year Yields Near 5.2%. Mortgages at 6.58%. The Refinance Window Is Closing. Oil touched $102, new tariffs hit 60 trading partners, and the odds of a Fed hike next week jumped to 38%. The cost of money is moving before most portfolios do. 7 min read 23 Jul 2026 They Hit Saudi Arabia’s Oil Escape Route. Hormuz was already choking Gulf exports. Now Houthi strikes are threatening the Red Sea route built to bypass it—while Brent breaks $100 and September hike odds climb to 80%. 8 min read 22 Jul 2026 $534B More CapEx. $340B More Operating Cash. Big Tech Is Becoming a Utility. Five hyperscalers are set to add $1.57 of capital spending for every $1 of new operating cash flow. Alphabet reports tonight. The real question is who finances the machine. 8 min read 21 Jul 2026 Cushing Near Tank Bottoms. Gas Back Above $4. The Reserve Is Thinner. Cushing is hovering near tank-bottom territory, the SPR is down to 316.5 million barrels, and gasoline is back above $4 as the Hormuz and Red Sea routes come under pressure again. 8 min read 26 Jun 2026 PBoC Month 19. 9.95t in May. Gold at $4,000. The paper market is selling. The physical market is being taken. 9 min read 25 Jun 2026 INTERCEPTED: Gold Routed Through London. Never Filed. Never Traced. Beijing buys through London while Washington drains the reserve it can't refill. 9 min read 25 Jun 2026 317 Tonnes Q1. 244 Unreported. $4,012 Spot This Morning. China buys the dip. The Fed just handed them one. 9 min read 22 Jun 2026 $4,150 Spot. 317T China Q1 Imports. Warsh Handed Beijing a 26% Discount. The Fed killed the rate-cut trade. China is using the selloff to load the vault. 9 min read 19 Jun 2026 INTERCEPTED: $108B Gone in 90 Days. Belgium Up $99B. The "China" Line Didn't Move. They're not selling. They're routing. The difference is everything. 8 min read 19 Jun 2026 $150B ADNOC Build. UAE Out of OPEC. Brent Down 38% in 30 Days. Abu Dhabi left the cartel before the peace deal. ADIA holds the hedge. 7 min read 18 Jun 2026 30 Strikes in May. Refinery Output at 2009 Lows. Brent -37% from Peak. Ukraine burns the refineries. Washington cuts the oil price. Moscow has to choose which front to fund. 9 min read 16 Jun 2026 INTERCEPTED: $930/kg Dysprosium. 1,200 Missiles Expended. Beijing Controls the Restock. America burned through its missile inventory fighting Iran. China decides whether it gets rebuilt. 9 min read 12 Jun 2026 95% Yttrium Flow Collapse. 17 Tons vs. 333. $0 Domestic Scandium. Beijing signs trade truces and withholds the licenses. The shortages are not in the language of the deal. 9 min read 12 Jun 2026 4.2% CPI. 70% Hike Odds By December. New Chair. Four Days. The president says don't raise rates. The data says something else. Warsh decides on Tuesday. 9 min read 11 Jun 2026 INTERCEPTED: $344M Freeze. $800M/Month. Qeshm Island Still Open. The US hit the wallets. The gold conversion window wasn't in the wallets. 9 min read 9 Jun 2026 INTERCEPTED: $135B in T-Bills. No Audit. El Salvador. Washington needed a buyer for its debt. They found one they can't regulate. 8 min read 5 Jun 2026 $75.6B in Treasuries Liquidated. 10-Year at 4.46%. 30-Year Knocking on 5%. Japan buys yen it can't hold. America pays the yield. 9 min read 5 Jun 2026 Brent $95.25. Gold -20% From Peak. Hormuz Day 117. Markets are pricing a deal. Iran says there isn't one. 9 min read 4 Jun 2026 Brent $96.97. SPR at 365M Barrels. Cushing 4.5M Above Operational Floor. The buffer was supposed to last months. The Strait is still closed. 9 min read 2 Jun 2026 $240B Foreign Treasury Dump in March. China at 18-Year Low. Japan Sold to Defend the Yen. The U.S. asked its largest creditor not to sell. Tokyo nodded. The yen weakened again by Friday. 8 min read 29 May 2026 5.122% on the 20-Year. $1T in Annual Interest. The Full Curve Tailed. The Treasury needs buyers. The buyers are demanding more to show up. 9 min read 29 May 2026 $54.7B Yen Operation. $47B in Treasuries Moved. 10-Year Hit 4.70%. Tokyo is selling U.S. debt to defend its currency. Washington is watching. 7 min read 28 May 2026 5.5bp Tail. $30B Foreign Dump. 10-Year at 4.468% The auction cleared. The dealers mopped it up. 9 min read 26 May 2026 $240B in Treasuries Dumped in 30 Days. 10-Year Tail at 5.5bp. $4.56 at the Pump. Asia sells dollars to defend currencies. The auction absorbs the difference. 9 min read 22 May 2026 INTERCEPTED: 582 Tonnes. Three Vaults. One Proposal That Died in a Closed Room Poland built the world's largest central bank gold program — then its own governor tried to sell it for guns. 9 min read 22 May 2026 INTERCEPTED: $104 Brent. $2M Per Transit. 146 Vessels Running Dark. Iran built a toll booth. Washington rejected it. The ships are still paying. 10 min read