WTI was trending below $60 through the end of 2025 after which Trump started making noises about avenging the students slaughtered by the rag-headed heathen bastards in Tehran

 

The funniest thing that's happening to Donald Trump right now is that while he tries to intimidate the Fed to reduce interest rates and they do nothing, yields are soaring all by themselves

 The bond market is issuing a vote of no confidence in our elected leadership.

One branch of Republican government thinks this is the 19th century with a robust manufacturing base it needs to protect with crazy wild tariffs, and another branch of Republican government thinks it's just fine to go on spending like drunken sailors and not raise taxes to pay for any of it.

Interest payments alone on the national debt in fiscal year 2024 soared to $1.1 trillion against revenues of $4.9 trillion.

Meanwhile the most powerful military in the world can't stop a bunch of rag-headed heathen bastards from launching missiles at Israel.

These people are crackerdog.

US Treasury yields are now up a net 2.37% across the curve since last Friday.

 

Long duration is very unhappy: 10Y at 4.53 at the close yesterday, 20Y at 5.00, 30Y at 4.97.

 

VUSTX ytd total return: -0.53%.

 

 

Rag-headed heathen bastard King of Qatar to award Mad King Ludwig of America lavishly appointed $400 million 747-8 jumbo jet to use as Air Force One until Boeing gets its act together

 Trump administration poised to accept 'palace in the sky' as a gift for Trump from Qatar: Sources

Trump poised to accept Qatar jet gift as Air Force One

 

 

 

Stuff that's been in the news since March 6th

 Xi Jinpingpong blamed the US for the first time for his domestic failures, according to the Wall Street Journal. He's a commie reactionary with Chinese characteristics. Not a good sign of what's to come.

Some cracker Republican in Florida wants bloggers to register like lobbyists, and Ron DeSantis finally came out against that, thankfully. A little late, though. Newt beat him to it.

Vivek Ramaswamy says CPAC shook him down for $$$$ in exchange for which they'd see to it he did better in the straw poll. There's no report that Matt Schlapp also asked for a reach-around.

LIBOR surpassed 5% for the first time in 15 years on Monday.

Georgia fired up a nuclear power reactor this week. The country now has 93 operating. 67 were never finished after Three Mile Island. 

A dog and her pups were rescued alive and well from a basement in Turkey more than a month after the Feb 6 earthquake. The death toll is up to 52k.

Thousands of Iranian schoolgirls are being systematically poisoned in Iran. There was a similar incident in Afghanistan during the first Obama administration. Rag-headed heathen bastards.

South Africa is going the way of Rhodesia. 

The UST yield curve aggregate made a new high 4.674% Wednesday v Fed Funds Effective Rate 4.57.

The Obama of Big Oil said peak production from 2019 will never be surpassed.

Pundits who predict inflation won't spiral like the 1970s fail to understand that the price of energy inputs is determinative. Unless energy costs come down big, we're in for it.

Cumulative deaths per million from C-19 in the US are 3,285. In Africa just 181. Follow the science.

The tide is turning on the Wuhan Lab Leak Theory of the origin of C-19 in the press.

Anthony Fauci has authored a paper in CELL which calls for better vaccines than the ones we've got, whether experimental or not. No kidding.

Silicon Valley Bank failed today, the first failure since 2020 when there were four. There was a huge flight to safety. Stocks sold off and longer dated Treasuries rallied 3.45%. The yield curve aggregate plunged 230bp, 3.82%.

Full time employment rose a little in Feb to 49.66% of civilian population. The average last year was 50.1%. 

There's strife in Iran

200,000 protesting fuel tax increases of 50% designed to pay for subsidies for 18 million poor. At least 143 killed. Perhaps 4,000 arrested.

731 banks, 140 government offices, 70 gas stations set ablaze.

50 internal security forces' bases attacked.

Reuters.

Maybe the rag-headed heathen bastards should stop funding nukes, rockets and terrorism instead.

Trump thinks winning a war is about killing people when it's about killing their ability to make war

Afghanistan could have been over and done with before the end of 2001 by destroying all the infrastructure: roads, water projects, dams, electric power stations and grid, et cetera, et cetera, et cetera, nuking the poppy fields on the way out.

Not one American life need have been sacrificed, nor 10 million Afghan lives, not that we should care about the rag-headed heathen bastards.

But we are not a serious country.

Our markets closed early today in honor of the birth of Jesus Christ, you rag-headed heathen bastards

Dear Rag-Headed Heathen Bastards: Our Markets Are Closed For Good Friday

Hey al Qaeda! Happy Anniversary, You Rag-Headed Heathen Bastards!