
A World Growing in Unison Needs Cheaper Oil
Nearly every economy on earth is growing, and American companies are earning far more than anyone expected in January. Analysts now see S&P 500 earnings per share rising 29% this year over last, up from
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Nearly every economy on earth is growing, and American companies are earning far more than anyone expected in January. Analysts now see S&P 500 earnings per share rising 29% this year over last, up from

Xi Jinping arrives in Washington later this month; when the two presidents met in Beijing in May, Xi reached rhetorically for the “Thucydides Trap” — national security scholar Graham Allison’s framing of a rising power

As we wrote last week, the Treasury said on August 19 that it would at least double its buyback operations in the ten-to-thirty-year sector, from $2 billion to at least $4 billion apiece. Long yields

We were planning to write about rates already after watching them climb for months. On Tuesday, as we were wrapping up this piece, yields on thirty-year Treasuries touched 5.339 percent, their highest since 2007. Then

First: Uranium The tightest areas in the uranium supply chain are downstream of the mine. Uranium itself (that is, processed ore) as we write, is at $86.90 per pound, roughly where it’s been since April.

In last week’s commentary, we briefly discussed the destruction and fire sale of a large, highly leveraged hedge fund portfolio called Situational Awareness that was run by a smart 20-something year old. The fund was
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