Economy & Finance

Services ISM Smashes Estimates, Prints At 56.1 Highest Since 2022, As Prices Paid Tumble After the Manufacturing ISM print earlier this week came modestly stronger than expected (albeit with the Prices Paid component spiking and sending 10Y yields higher), some were expecting a similar improvement in today’s Services ISM print. What they got instead, was […]

Air Freight Rates To Spike As Iran War Escalates By Eric Kulisch of FreightWaves The war launched by the United States and Israel against Iran on Saturday is already disrupting air cargo traffic in the Middle East, a key freight corridor between Asia and Europe where two of the world’s largest cargo airlines are based,

Primary Losers: Crockett Cries ‘Disenfranchisement’ , Crenshaw Crushed Rep. Jasmine Crockett has just lost her Democratic Senate primary in Texas to Democratic state lawmaker James Talarico, who will now try to become the first Democrat in nearly 40 years to win a Senate election in Texas. He will face the Republican winner between longtime incumbent

“A Watershed Milestone”: Kraken Becomes First Crypto Firm To Gain Access To Fed’s Payment System Kraken has secured a Federal Reserve “master account,” giving its banking arm direct access to the Fed’s core payment systems and making it the first crypto firm to operate on the same rails as traditional financial institutions, Coindesk reported. The

Iran Latest: Tehran Makes ‘Secret’ CIA Outreach; Hegseth Declares ‘Winning’ Despite US Comms Infrastructure Severe Damage On Day 5 of the Trump-ordered Operation Epic Furry targeting Iran for regime change, Pentagon chief Pete Hegseth declared the US is “winning” against Iran, signaling that additional American forces are en route and vowing Washington will take “all

Minnesota Sues Federal Government Over Medicaid Funding Freeze Authored by Aldgra Fredly via The Epoch Times (emphasis ours), Minnesota filed a lawsuit on March 2 to block the federal government from withholding $243 million in Medicaid funds, saying the freeze could lead to potential cuts in medical services for low-income individuals. In a still from

Futures Bounce, Oil Slides After Report Of Iran Backchannel Outreach It was shaping up as a catastrophic, margin-call driven Wednesday session after Japan’s Nikkei tumbled about 4% and Korea’s Kospi suffered its biggest drop ever, plunging by a record 12%. But after initially plunging overnight, S&P futures rose as much as 0.4% after the New

ADP Private Payrolls Jump To 63K, Stronger Than Expected And Highest Since November Amid the ongoing double whammy of geopolitical and private credit shocks, with a little AI disruption thrown in every other days courtesy of Anthropic’s human-displacing agents and smashing capex-lite sectors like a chatbot avalanche, the last thing the market needed is a

“Unknown Projectile” Strikes Container Ship In Strait Of Hormuz As Maritime Crisis Explodes This morning has been very active on the maritime security front. The latest incident involves a container ship that was struck by a projectile while transiting the Strait of Hormuz. United Kingdom Maritime Trade Operations reports that a container ship about two