It’s that dreaded day when TACO lost its flavor. Markets got wise. Now what. The quality of Iranian Lego propaganda is improving and naphtha hoarding is jacking up plastic pricing faster than anticipated. We accelerate into the unknown

This blessed plot, this earth, this realm, this England - now with 10 year yield at 5.01%. I think that bizarre Thursday White House press conference broke the market confidence. And UK is the weak link in the sovereign debt market. We don’t have weeks. We may have just one week

12 hours after Trump boasted how well the negotiations are going, Iran declares total closure of Hormuz and turns back three Chinese vessels. It’s possible Trump got used to China allowing him to make false claims and does not comprehend this is a different setup.

The chaos unfolding in Asia isn’t really registering in America. People here are tuning it out and disassociating. The damage that America may be doing to 3 Billion people in Eurasia isn’t something people want to dwell on. A new season of Love Island is starting.

A wildfire summer ahead. Likely the hottest summer in recorded history.

BTW, you can move to live in Svalbard right now. No visa requirements because nobody wants to live there. But you could.

Did you know there is an index for bond market volatility? You gonna hear about it

He is going to have a golden coin and a golden statue and a White House wrestling arena and a marble triumphal arc just when the unemployment spikes above 14%. The Caligula vibes will be immaculate. Marco will be grinning sweatily on Fox and insulting Belgium.

Eastern skies of Finland are glowing red again as the humble fishing folks of Kotka watch Russian oil burn

Never thought I would see 87% Disapproval rating on inflation. BEFORE inflation even cracks 3.5%. But here we are. In this emotionally feverish country

I made a brief reference to the Helen Keller conspiracy on that hell app and now all of my social media is full of deranged American anti-Helen content. HJÄLP. I’m not like that. I may look like this dude but we are not the same

Like laboratory hamsters, traders are getting conditioned to bet against Trump’s manipulation attempts within 60 seconds.

Fed has no choice but to start signaling rate hikes. It is now clear that the inflation will hit 4% and bond markets are starting to freak out. The only option Fed has is to try to project vigilance. They are cornered.

Iran now knows it can push around Trump, who keeps caving in on very specific threats he keeps making. His weakness invites further aggression. What a farce

Watching Second Sphinx TikToks to avoid thinking about what America is doing to bond markets just ahead of massive treasury auctions

It must be weird for the marines to have this pressure of delivering a “win” before futures open on Sunday evening. They are racing to beat the traders with their lives at stake

Investors got really, really scared by that press conference. Because America is at war and our leaders seem both crazy and dumb. But the financial media simply cannot admit this. So we get these weirdly anodyne, evasive headlines. The truth is too hard to tell.

Finland’s Five Below Michael Bay tries to recapture the magic of “Deep Blue Sea”, the most successful (and only) Finnish disaster movie.

America is shattering the global debt market without even bothering to notice what it’s doing - but in balance, a second sphinx just hit. Who is to say what matters most in the great work of time.

These low and feckless men have no capacity to deal with the crisis they have created. They are not serious people. They have no competence to wage war. Foreign bond holders are horrified and will unwind their US holdings. There is no way home. The world we knew is gone.

This press event is a devastating moment for America. I cannot understand how the media can continue pretending not to grasp this. Just an absolute disaster. You can see it in the bond market reaction. Real professionals are horrified. We may be doomed.

Bond traders have had enough of this grotesque clown show. These humorless and reptilian men are starting to price in a possible sovereign debt market meltdown. US 10 Year about to hit 4.4%, UK yield licking 5.0%. Leaking dramatic plot twists to Axios won’t stop this train.

You can see Russian oil depots burning all the way from my beautiful Finland

This is not proof of anything, but it’s compatible with a scenario where European fund managers are now so scared of how erratic America has become that they are no longer buying US bonds. If the 10 year auction goes splat, fur will fly. I am begging you to monitor the situation.

AI industry is an absolutely wild place. Can’t even describe the scenes right now. Total mayhem

Peace in our time?? Both sides are making impossible demands, so this is something we need to monitor closely

It almost impossible to get below 30% in any poll over here. I mean, 31% of Americans hate Helen Keller. But

You’re gonna learn what the “bond auction bid-to-cover ratio” means. You’re gonna learn the hard way. By next fall, you will wish you didn’t know what it means.

Bond traders are done with this nonsense. They are angry and caustic men. They have reached their limit. Additional drama will not help. Trump is finally facing an entity he cannot bully or bamboozle.

Yeah we’re just about done. Have that pint of Mövenpick

This is so interesting. Upper Colorado snow pack is vanishing completely… just before it’s supposed to peak.

Is it possible to get someone interview Witkoff? Like, a real reporter? If this Queens landlord is deciding the shape of the world without any diplomatic training or understanding of the Middle East - could we at least hear what he thinks?

I am all for modern and innovative diplomacy, but I’m not sure it makes sense to leak to Politico that we will keep murdering new Iranian leaders until we find an obedient creature. I just don’t know if that is a good thing to announce to the world.

Burgum right now on CNBC hyping the Iran deal. It’s remarkable how this Administration is doing a full court, all day press specifically on financial media today. About negotiations that Iran insists are not happening.

Roses are red Rubio has vast shoes Me and Ayatollah Shall jointly rule Hormuz

Me and the mullah. That is the new concept for ruling Hormuz. I guess this is what we’re working with. Good luck gang

Managing the oil price and goosing the S&P does not make the actual oil flow. Every move that extends the length of the Hormuz shutdown makes the coming crisis worse. Each successful manipulation has an escalating long term cost.

Iranian state TV is notorious for its lies, but I’m afraid they might have a bit of a banger here

Woah… It’s a five day taco, until markets close on Friday night. And he is suddenly happy with “tenor and tone” of the murderous terror regime?? Lindsey will be furious. Oil is tanking HARD. Could this save Ukraine?

I regret to tell you Koreans are at it again

Pictures of the end

Yeah the civilizational danger is Americans always buying the dip & Trump looking at market and going “well this isn’t too bad, let’s goooooo”

Doing this on a Sunday afternoon is demonic. I literally saw it tick up just as I snapped the photo.

OK two hours until futures open. Stay hydrated, stock up on some cheddar, listen to Enya, go for a run. Pace yourself. Treat yourself. Your old life of idle luxury may be over. But you may discover a hero inside yourself.

Everybody who was a bit slow in high school finally learning what “inelastic demand” means. It means that you may stop buying ice cream if the price goes up 20%. But you won’t stop buying gas if it goes up 200%! So to cut demand by 10%, weakest hands need to be slapped hard. Maybe 250% hard.

Well he has three hours to taco until markets might get antsy as futures open. And Iran has three hours to do something astounding. Sunday afternoons are not for wussies!

It’s pretty chilling how the chronically online Vance is now posting just five times a week - and only on topics like airline queues. He really is pretending the devastating Iran war does not exist. Both Vance and Rubio are MIA.

They put the Treasury Secretary on my teevee to defend the war crime promised for Monday. The destruction of Iran’s power infrastructure. Because Marco Rubio is hiding. He doesn’t want to talk. Don’t ask him anything.

Yeah he’s cracking. Good luck everyone. Hoard some Australian cheddar and keep a full tank. The one with the crocodile on the label is the best. Cheese, I mean. It lasts.