Treasury Licensed the Enemy's Oil Because the War Broke the Market
The United States is now officially selling its enemy's oil to pay for the war that made selling oil necessary.
Economy
Fed Holds Rates, Raises Inflation Forecast — One Cut Still on the Table
The Fed raised its inflation forecast to 2.7 percent, held rates steady, and projected one cut it probably cannot deliver — the institutional version of whistling past the oil field.
Gas Prices Surge 28 Percent in Three Weeks — the Fastest Since 2008
Gas jumped a dollar in three weeks — the fastest peacetime surge since 2008 — and the pump is where the war comes home for voters.
Wall Street's Fourth Losing Week — but Some Bulls Smell a Bottom
The Dow lost 444 points Friday and all three indexes posted their fourth straight weekly decline — but contrarian bulls are calling peak fear a buy signal and $1.8 billion just bought the dip.
Europe's Energy Nightmare Returns — Gas Prices Up 60%
European gas prices have surged over 60% since late February as Iranian strikes on Qatar's Ras Laffan LNG plant trigger a supply crisis that HSBC warns will persist through 2027.
Gold Touches $5,400 — War-Era Safe Haven Rally
Gold futures spiked above $5,400 per ounce as the Iran war triggered the most concentrated safe-haven rush since 2020, vindicating Goldman Sachs's January forecast two months early.
European TTF Gas Surges 24% in a Week
Europe's benchmark TTF gas contract has surged toward EUR 70 per megawatt-hour as the Hormuz closure and strikes on Gulf energy infrastructure revive the continent's worst energy nightmare.
Central Banks Repricing Rate Paths Worldwide
Three weeks ago every major central bank was cutting rates. Now the Fed, ECB, and Bank of England are all holding or threatening hikes — the easing cycle is dead.
Pentagon's $200B Request — Biggest War Bill Since Iraq
The Pentagon's $200 billion supplemental dwarfs the Iraq war's peak annual spending — and the bombs have only been falling for three weeks.