BREAKING: US annual interest expense is up to a record 18.5% of federal government revenue.
This is officially above the previous record of 18.4% set in 1991.
This percentage has more than QUADRUPLED over the last 4 years as interest expenditures on public debt skyrocketed.
US annual interest expense now stands at a record $1.25 trillion, more than 4x the level seen in 1991.
Meanwhile, the 30Y Treasury yield is trading at ~5.21%, just 13 basis points from its highest level since 2007.
By comparison, the 30-year yield was oscillating at ~8.00% in 1991, underscoring how much the US debt burden has grown since then.
The US debt crisis is in uncharted territory.
US homebuyers are quitting.
There were an estimated +51.3% more home sellers than buyers in July, the 2nd highest level on record.
This percentage has doubled over the last 2 years.
By comparison, an all-time high of +51.8% was recorded in December 2025.
This comes as the number of active homebuyers fell -2.5% MoM, to 966,752, the lowest on record.
At the same time, the number of sellers declined -0.3% MoM to ~1,462,921, the lowest reading in a year, but the decline was far smaller than the drop in buyers.
As a result, ~80% of major US metros are now buyer's markets, led by Miami, where sellers outnumber buyers by +154%.
Further downward pressure on home prices is likely coming.
BREAKING: Nvidia, $NVDA, is set to announce a $500 billion AI financing effort in partnership with Apollo, Blackstone, BlackRock, Goldman Sachs, KKR, and Brookfield, per CNBC.
Details include:
1. The move comes as tech companies are increasingly looking to raise debt to finance AI projects
2. For Nvidia, the effort could help its biggest customers secure the financing needed to buy its GPUs, build data centers, and lock in long-term electricity capacity
3. The deal could be announced as soon as today, sources say
The AI buildout is prompting a historic wave of debt issuance.
BREAKING: Iran has flatly ruled out any future negotiations with the Trump administration, declaring it will wait out Trump's term until January 20, 2029, per an advisor to the Parliament Speaker Ghalibaf and a senior Iranian source.
"Trump will not reach an agreement with us. We will accompany him until his term ends," Majid Shakeri, advisor to Parliament Speaker Ghalibaf says.
Shakeri adds "the path to victory is neither fighting nor a deal, it is managing the process of neither war nor peace, up to the point of victory. Publicly confirming negotiations with the US is sheer folly. The winning approach is denial, ambiguity, and strategic patience."
Unless Trump accepts all of Iran's conditions in the US surrender document, the Strait of Hormuz stays closed until 2029. Those demands include $300 billion in compensation, more than $100 billion in frozen assets released, lifting all sanctions, US troop withdrawal from the entire region, and accepting transit fees on every ship.
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