BREAKING: US 10-year bond yield just dropped as the US government sold $39 billion of 10-year bonds.
Demand was strong, so investors accepted a lower yield than expected.
The yield went from 5.365% to 5.271% in under 4 hours.
BREAKING: 🇺🇸 President Trump just announced that the US Treasury will buy $1,000 of stocks for every baby born from 2025 to 2028.
That means about $3.5 billion of stocks bought every year.
Oil flows in the Strait of Hormuz have sharply rebounded:
Persian Gulf crude oil exports surpassed 14 million barrels per day last week for the first time since the Iran War began on February 28th.
This marks an over +210% increase from the ~4.5 million barrels per day low seen in March.
As a result, the 4-week average is up to 14 million barrels per day, the highest level in 6 months.
Persian Gulf crude oil exports have now recovered to ~80% of their pre-war levels.
This comes as the US military has increasingly secured the Strait of Hormuz and established a two-way shipping corridor along the coast of Oman, allowing oil convoys to resume through the waterway.
Meanwhile, refined fuel shipments, including gasoline, diesel and jet fuel, remain at only around 50% of pre-war levels, as these products are more expensive to transport than crude oil and some refineries in the Persian Gulf that were damaged during the early stages of the war have also yet to fully resume operations.
Oil flows are coming back, but the fuel market is still under intense pressure.
IRAN’S OIL REVENUES COLLAPSE AS BLOCKADE TIGHTENS
Iran’s oil income is rapidly shrinking as a US naval blockade restricts exports and offshore stockpiles fall.
Iranian crude stored outside the Gulf has dropped from 90 million to 29 million barrels, while shipments to China are dwindling.
With oil funding roughly a third of Iran’s state budget, the squeeze is worsening inflation, weakening the rial and pushing the economy deeper into crisis.