@RenMacLLC BTW I want to point out that everyone who pivoted into bonds when the 10 year was at 5.3% will soon be losing money if and when yields go to a new 52 week high.
Turns out bond bulls can fall prey to falling knives just as easily as equity investors.
@RenMacLLC Too bad "real yields" aren't really real ๐
Even Jeff Gundlach says he uses the import export figures for a truer read on actual inflation.
BREAKING: ANSAR ALLAH HAVE JUST STRUCK ARAMCO IN RIYADH AGAIN
Ansar Allah Spox Yahya Saree:
โOur armed forces have just targeted the Aramco company in Riyadh, the capital of the Saudi enemy, using a drone, and the operation successfully achieved its objective, by the grace of God.โ
US 30-YEAR TREASURY AUCTION TAILS AS DEMAND WEAKENS
The US 30-year Treasury auction cleared at 5.441%, above the 5.437% when-issued yield, producing a 0.4-basis-point tail despite a sharp decline from the previous auction's 5.618% yield.
The bid-to-cover ratio fell to 2.36 from 2.54, signaling weaker demand.
Indirect bidders took 68.1%, down from 72.3%, while direct bidders took 20.5%, versus 20.9% previously.
Lower yields masked softer auction demand, with the tail suggesting investors required a modest concession.
CHINA PLANS $15 BILLION SHIPPING INSURANCE RIVAL TO LLOYD'S OF LONDON
Beijing is exploring a $15 billion maritime insurance and reinsurance hub by 2029, challenging Western dominance of global shipping coverage.
The proposed system would protect Chinese shipping from Western sanctions and disruptions, particularly in high-risk routes such as the Strait of Hormuz.
China Re, PICC and Hong Kong's Marine War Insurance Pool are among the potential participants.
The global maritime insurance market is worth roughly $25 billion annually, supporting more than $14 trillion in global goods trade.
Talks remain preliminary, but the initiative could weaken Western control over a critical pillar of global trade.