Iran's Pain Threshold: One Bank's Math

The central bank of Iran claims on the government stood at 87%yoy at end-2025 and the stock could quadruple if all spending (excluding wages) was monetized.


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US equity futures gain, DXY flat whilst the AUD lags post-RBA; US ISM Services ahead - Newsquawk US Market Open

  • US President Trump said the war could go on for another two to three weeks; time is not of the essence.
  • US officials say the military is closer to resuming combat operations than 24 hours ago, Fox reported.
  • Iranian Foreign Minister Araghchi posted, "As talks are making progress with Pakistan's gracious effort, the US should be wary of being dragged back into a quagmire by ill-wishers.

"This Time It's Different"

Five current observations on the four most dangerous words in investing.

Germany's Silent Shift: From Entrepreneurs To State Dependence

Germany affords itself a state bureaucracy that functions like an artificial labor market placed upstream of the private sector. The flight of hundreds of thousands into the arms of the state corresponds with the shrinking number of self-employed in the country. 


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Trump's "Project Vault" Plans To Initially Buy Rare Earths From China

The initial stockpile fill would be driven chiefly by availability, reflecting the reality that some of the roughly 60 minerals under consideration are produced only in limited geographies and, in some cases, remain heavily influenced by China...