Who were the counterparties? 

2025 saw the biggest gap between authorized and executed... and 2026 is set to be even worse...

"I think actually flip to negative for the mobile market in this last quarter." 

It is time to wake up, because a nightmare scenario really is upon us...

JOLTs data showing record hiring, ...Claims showing no firing...

The abrupt & mysterious 'pause'...

“Even though there is not yet a final peace agreement, markets are clearly pricing in a meaningful step forward toward a resolution,”

If the capex pulse wavers, or AI delivers the feared labor-market shock, the optimistic part of the loop will buckle quickly...

Eh...

"...recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March." 

...potentially the biggest defeat for any establishment party ever as the most likely outcome, UK politics may never be the same again.

The market may have pushed off the private credit crisis to page 6 thanks to the market meltup, but unforrunately the latest developments in the sector are only getting worse. 

HY recoveries plunged to 35%, down 16% from 51% a year ago, prompting concerns about underlying unsecured asset quality...

The figures also reveal a stark divide between Vienna’s public and private schools...

• Al Arabiya reported that "the coming hours will witness a breakthrough for the situation of the ships stuck in the strait", spurring pressure in the crude complex.
• Iran is expected to provide its reply to the US proposal for ending the war to mediators on Thursday, according to CNN, citing a regional source.
• US President Trump could turn to military action without an agreement with Iran ahead of the China trip, according to Axios, citing US officials.
• European and US equity futures are modestly fir

"Under an adverse scenario (normalization delayed to July), stocks could be depleted entirely by year-end ..." 

Germany just found a new way to lower its own healthcare costs: make Americans pay more...

Meanwhile US Navy jet fires on Iranian ship trying to reach Iranian port...