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Micro Trumps Macro As Stocks Shrug Off Week Of Higher Inflation, Higher Rates, & Lower Growth It was an ugly macro week… Source: Bloomberg …and worse still, ‘growth’ surprises disappointed significantly while ‘inflation’ surprises surprised to the upside significantly… Source: Bloomberg Soaring inflation expectations sent rate-cut expectations to new cycle lows… Source: Bloomberg …pushing yields…

Trump Responds To Main ‘Hush Money’ Trial Witness’s Claims Authored by Jack Phillips via The Epoch Times, Former President Donald Trump praised the first witness in his New York City “hush money” trial, former National Enquirer publisher David Pecker, as he is scheduled to deliver more testimony in the case on Friday. “He’s been very…

Blinken Threatens China Over Russia Ties, Warns Xi Against “Downward Spiral” In Relations With US On Friday Secretary of State Antony Blinken met with Chinese President Xi Jinping in Beijing, which brought to a close the US top diplomat’s three day visit to China.  Blinken warned the Chinese leader of another potential “downward spiral” in relations and the two sides…

Fauci To Testify In Public Hearing On COVID-19 Response, Origins Authored by Stephen Katte via The Epoch Times, Dr. Anthony Fauci is locked in to testify before the Select Subcommittee on the Coronavirus Pandemic on June 3, his first public hearing since retiring as the president’s chief medical advisor in 2022. Subcommittee Chair Brad Wenstrup…

US-Led Gaza Pier Project Comes Under Mortar Fire As UN Officials Tour Site The US military’s ambitious project to erect a large pier off Gaza’s coast (all within a war zone) to allow maritime shipments of humanitarian aid to Palestinians is off to a rocky start, after new reports that the construction site has come…

Lawmaker Suggests Iran Is Ready For Nuclear Weapon Testing Via Middle East Eye Iranian military commanders and high-ranking officials have warned they could change their approach in developing the country’s nuclear program after increasing tensions with Israel, implicitly announcing their readiness to take it into a military phase. Before the recent direct military confrontation with Israel, Iran had…

Yen Dumped, Yield-Curve Pumped, Bonds & Bitcoin Slump Quiet macro day with Durable Goods Orders looking like a beat – but only because of sizable downward revisions – as orders and shipments are actually down on a YoY basis. Source: Bloomberg But stocks were messy with an opening bid immediately squelched and post-EU-close ramp faded…

“Situation Is Unraveling”: Pro-Palestinian Protests Erupt Across America’s Woke Colleges Colleges and universities across the country are struggling this week to keep pro-Palestinian protesters off school grounds. Students, and or perhaps a mix of professional protesters funded by radical leftist groups and dirty Gulf money, are storming campuses and setting up encampments. This is likely a coordinated effort nationwide…

Alvin Bragg Has His Trump Trial, All He Needs Now Is A Crime Authored by Jonathan Turley, Below is an expanded version of my column in the New York Post on the start of the Trump trial and much awaited explanation of District Attorney Alvin Bragg on the underlying alleged criminal conduct. The curious aspect of the…

Federal Judge Appears Ready To Reimpose Jan. 6 ‘Disinformation’ Monitoring Authored by Joseph M. Hanneman via The Epoch Times (emphasis ours), Despite being slapped down by the U.S. Court of Appeals for ordering a Jan. 6 probationer’s computer use be monitored for so-called “disinformation,” a senior federal judge in Washington D.C. appears ready to reimpose…

It’s All About Mag 7 Earnings: Without Them S&P Profit Growth Is Negative After what has been a boring start to the week, where the biggest event so far was yesterday’s start of corporate buyback frontrunning (as we first detailed and bottom ticked the market, which is now 100 points higher since our comment), investors…

New York Democrat Wishes Death On Trump Supporters Authored by Steve Watson via Modernity.news, A Democrat who is running for Congressional office has received fierce backlash for wishing death on supporters of Donald Trump. Nate McMurray, who is running to represent New York’s 26th congressional district, posted the demented comments on X shortly after the weekend…

The Bad Faith Olympics Authored by James Howard Kunstler via Kunstler.com, “This is the weirdest era in human history. By far. Nothing else even comes close. Billionaires trying to kill everyone. Civil society unable to form a coherent thought. Institutions lie in smoldering ruins. Poisons handed out like candy. We are Neanderthals with iPhones.” –…

Gold Hammered As Short-Squeeze Saves Stocks Ahead Of Micro/Macro Storm This Week The “calm before the storm” of earnings and big macro this week (and no WW3 this weekend) was all the algos needed to ramp stocks during the US cash session after being reminded that the buyback-blackout period is almost over… And S&P HOD…

Here Comes The Cavalry? By Benjamin Picton of Rabobank Here Comes The Cavalry? The risk of imminent hot war between Israel and Iran seems to have dissipated for the time being. Israel on Friday delivered its promised response to the Iranian strike of the weekend before by hitting targets in Syria and the Iranian city…

Pardon Me? Michael Avenatti Flips, Willing To Testify On Trump’s Behalf Imprisoned former CNN demigod Michael Avenatti has come out in support of Donald Trump, telling the NY Post that he’s willing to testify on Trump’s behalf after being in contact with Trump’s legal defense team about his willingness to testify against his former client,…

Biden’s Title IX Trans-formation Puts Women’s Progress & Protections “On The Chopping Block” Authored by Savannah Hulsey Pointer via The Epoch Times, The Biden administration’s overhaul of Title IX met with pushback today from lawmakers in favor of preserving female-only spaces. Rep. Virginia Foxx (R-N.C.) speaks during a House Committee on Oversight and Reform hearing…

“Hard Crash”: Construction Jobs In Philadelphia Set To Plunge As Residential Projects Hit A Wall Construction jobs in Philadelphia could plunge soon as a result of a “glut” of residential projects finishing up with questionable demand waiting behind them, according to a new report from BisNow.  In fact, some developers are calling for a “hard…

What Are Mises’ Six Lessons? Authored by Jonathan Newman via The Mises Institute, Ludwig von Mises’s Economic Policy: Thoughts for Today and Tomorrow has become quite popular recently. The Mises Book Store has sold out of its physical copies, and the PDF, which is available online for free, has seen over 50,000 downloads in the past few days. This surge…

Elon Musk Says Tesla Will Fix “Incorrectly Low” Severance Packages For Laid Off Employees Elon Musk stated last week that the severance packages given to some ex-Tesla Inc. employees during the company’s largest workforce reduction were incorrectly too low.  Tesla announced on Monday that it is cutting over 10% of its 140,000-strong global workforce to…

Not ‘The Onion’: New Guinea Academics Say Cannibals Would Be Offended By Biden’s Tale Of Uncle Being Eaten Authored by Steve Watson via Modernity.news, Academics from Papua New Guinea say that the actual cannibals who live there would be extremely offended by Joe Biden’s made up story of his uncle being eaten by them during…

Climate Worries Are Non-Credible, Luxury Beliefs That Harm Civilization Itself Authored by Joakim Book via The Mises Institute, I live in a small village at the edge of lands surrounded by very harsh nature. Those who occupied these valleys in ages past lived ruthlessly dangerous lives, where starvation was a constant worry, the sea just…