As a result of the US-Iran stalemate in the Strait of Hormuz, Asia is facing a fuel crisis. Food crisis is likely to follow next. www.economist.com/asia/2026/05...

PPI inflation: 6%in April 2026 The Producer Price Index (PPI) is generally considered a leading indicator for the Consumer Price Index (CPI) This means we are likely to see further acceleration in CPI inflation. 3.8% CPI inflation in April 2026 is not the end of it

This week's global spike in long-term yields is about an unwind of something that was unsustainable. When oil prices spiked months ago, money market curves (blue) priced central bank hikes, but long-term yields (red) didn't rise. That's now correcting... robinjbrooks.substack.com/p/a-world-of...

Global bonds tumble on fears of inflation shock from Iran war - giftarticle.ft.com/giftarticle/... via @FT

"Most Americans (59%) think the country's best years are behind them and only 40% think its best years are ahead."

“.. the programme has not provided a single dollar of cover.” @financialtimes.com #Hormuz www.ft.com/content/eaba...

US wholesale inflation hits 6% as Iran war sends fuel and freight costs soaring - giftarticle.ft.com/giftarticle/... via @FT

The speed with which the Dollar is falling against EM is breathtaking. What's crazy is that this is happening even though we don't have a peace agreement yet, so just imagine how much more the Dollar will fall when we actually have one. Dollar weakness... robinjbrooks.substack.com/p/broad-doll...

Moscow airports are paralyzed, and Russians are already complaining because they cannot fly out due to drones.

Pro-Kremlin economists cut Russia's GDP growth forecast significantly due to drone attacks. Source: The Moscow Times. With drone strikes hitting crucial oil facilities, Russia faces tough times ahead, risking both its economy and regime stability. (1/6)

(WSJ) - The U.S. national debt now exceeds 100% of gross domestic product, crossing a once-unthinkable threshold, on the way toward breaking the record set in the wake of World War II. @wsj.com www.wsj.com/economy/u-s-...

Oil jumps to almost $120 as Trump signals extended Hormuz stand-off - giftarticle.ft.com/giftarticle/... via @FT

Goldman Sachs stops bankers using Anthropic’s Claude in Hong Kong likely due to concerns over intellectual theft - giftarticle.ft.com/giftarticle/... via @FT

💥💰Police in Hungary have opened an investigation into suspected misappropriation of funds after claims that oligarchs linked to Viktor Orbán’s system were moving allegedly stolen assets abroad.

Remember, this was the party of "patriots"

Some bad news for Moscow, and good news for the global economy: UAE to leave OPEC in blow to oil cartel - giftarticle.ft.com/giftarticle/... via @FT

Russia reduces oil production significantly due to drone attacks on ports and refineries, according to The Moscow Times. Drone strikes are crippling key terminals, causing chaos in oil markets and leading to steep production cuts, officials warn. (1/6)

🇪🇺 🇺🇦 The EU on Wednesday gave the green light to unblock a 90-billion-euro ($106 billion) loan for Kyiv, after the deadlock was broken in a months-long row between Ukraine and Hungary over a damaged pipeline ➡️ u.afp.com/SEtk

Iranian tankers bypass Trump’s blockade - giftarticle.ft.com/giftarticle/... via @FT

More than $160 billion in tariff refunds are due for U.S. importers.

Something is rotten in the state of Trump. World Liberty crypto venture faces investor backlash - giftarticle.ft.com/giftarticle/... via @FT

Fast-rising oil prices sent US businesses’ costs higher in March, lifting wholesale inflation to 4%, the highest annual rate in three years, according to Bureau of Labor Statistics data released. https://cnn.it/4vsFIlF

Trump’s blockade is getting an immediate test. A Chinese tanker has cleared the Strait of Hormuz. Will the US seize it? If the US does, is that an act of war? If it doesn’t, does the blockade collapse? This is a scary moment. www.newsweek.com/first-chines...

IEA expects a massive fall in oil use later this year as a result of US-Iran war.

Anybody interested in how populist economic policy ends should study Hungary. Orbánomics has been a disaster for Hungary giftarticle.ft.com/giftarticle/... via @FT

US inflation jumps to two-year high giftarticle.ft.com/giftarticle/... via @FT

After Trump declared victory, fewer ships passed through the Strait of Hormuz today then during the fighting - giftarticle.ft.com/giftarticle/... via @FT

Japan, Singapore and South Korea are among the countries where imports of oil were hit most by US war against Iran. China as well, but it has massive reserves - giftarticle.ft.com/giftarticle/... via @FT

In what world is it okay for the Defense Secretary to make multi-million dollar investments in defense companies: a) Ever; b) In the run-up to starting a war in the Middle East FT has the scoop: www.ft.com/content/744e... In a functional democracy, he would offer his resignation tonight.

The Dollar downtrend has now been meaningfully disrupted. But that doesn't mean it's over. As soon as this war ends - and it must because of the midterms - Dollar weakness will reassert itself. EM commodity exporters like Brazil will then do really well... robinjbrooks.substack.com/p/what-this-...

The tragic irony of the last few years is that, had the USG given Ukraine only a fraction of the weapons that they have expended against Iran in a few weeks (Patriots, Tomahawks, etc), Ukraine would have won, oil prices would not be skyrocketing and the US would be more secure.

The Iran war will cement China’s superpower status, contrary to what MEGA pundits seem to think, says FT giftarticle.ft.com/giftarticle/...

US inflation will surge to 4.2% on energy shock, warns OECD - giftarticle.ft.com/giftarticle/... via @FT

A proposed bill would bar members of Congress, the president and other executive branch officials from trading on political events.

So it turns out Reform are laundering their donations through crypto, before converting them into cash, hiding the original source of the money. So who is really funding Nigel Farage and Reform UK? observer.co.uk/news/nationa...

“We don’t use the Strait. We don’t need it.” 🤡

58% of Brits think leaving EU was a mistake. UK government may move towards custom union (finally) - giftarticle.ft.com/giftarticle/... via @data.ft.com

US won the war and meanwhile Iran allows handful of favoured ships through Strait of Hormuz - giftarticle.ft.com/giftarticle/... via @FT

Trump last night: „We are helping NATO with Ukraine, so NATO should help the US to keep the Strait of Hormuz open.“

What's the Tech calld thinking: Peter Thiel lectures about antichrist in Rome - giftarticle.ft.com/giftarticle/... via @FT

Recovering from this year shock may be more difficult than last year... giftarticle.ft.com/giftarticle/... via @FT

In 2022, after its invasion of Ukraine, Russia got a massive windfall because oil prices spiked. The price of Urals has now risen back to those levels because the closure of the Strait of Hormuz has made Russian oil highly sought after. Russia is winning... robinjbrooks.substack.com/p/a-huge-win...

The economies of former US allies in Europe and Asia will pay the biggest price for the Iran war - giftarticle.ft.com/giftarticle/... via @FT

On any normal day, 60 oil tankers go through the Straits of Hormuz. That number is currently zero and - if tanker traffic resumes - Iran has every incentive to blow one up, which will cause a massive crisis in global markets. I talked about this on CNBC last night... www.cnbc.com/video/2026/0...

Two days after Russia's invasion of Ukraine, Brent was up 1% (black). In contrast, 2 days after the US launched attacks on Iran, we're up 15% (blue). This is an absolutely massive shock that's feeding through global markets. Disorderly conditions building... robinjbrooks.substack.com/p/what-iran-...

"Russia retains limited short-term fiscal room to continue financing the war, but its position is gradually weakening" case-research.eu/publications...

While Putin's friends were hit in Tehran, oil prices soar and that's where he'll benefit giftarticle.ft.com/giftarticle/... via @FT

Right now UK is pretty much running the electrical grid on renewables and Nuclear.

❗️🇱🇻Latvia will transfer a dismantled thermal power plant to 🇺🇦Ukraine — Foreign Minister Baiba Braže We have just provided another package of energy support and are preparing one more, including the literal relocation of a decommissioned thermal power plant from Latvia that is no longer needed there.

Serious problems persist, but Ukrainian economy proves surprisingly resilient... giftarticle.ft.com/giftarticle/...