Baltic
Dry Index. 3085 +94 Brent Crude 97.94
Spot Gold 4504 Spot Silver 76.88
US 2 Year Yield 4.01 -0.12
US Federal Debt. 39.293 trillion
US GDP 32.156 trillion.
Republican’s are good for depressions, Democrats are good for wars.
Wall Street saying circa 1976, but perhaps it’s changed in 2026.
With global supply chain disruption everywhere, Trump’s six day war entering day 88, oil inventories, jet fuel and diesel inventories all rapidly nearing day to day supply disruption, the global stock casinos bubble on like nothing happened.
Supply disruption? Who needs supplies? War? What war? Drought in the USA and much of Europe, food price inflation? Let them eat cake!
And so the great delusional disconnect from reality goes on in the GREAT AI MANIA in the stock casinos.
Of course, manias, like debt, don’t matter until one day, out of the blue it does.
Dinosaur Graeme thinks that day may be close, possibly on or near July 4th, America’s 250th founding anniversary.
Japan, South Korea stocks hit fresh records as
markets weigh Iran tensions and ceasefire talks
Published Tue, May 26 2026 7:47 PM EDT
Asia-Pacific markets rose on Wednesday,
with Japan and South Korea’s benchmark indices hitting new highs as investors
assessed recent U.S. military action in Iran, the fragile state of the
Washington-Tehran ceasefire and optimism that a deal could still be reached.
Japan’s Nikkei 225 rose 1.49% to a
fresh record, while the Topix added 0.57%.
South Korea’s Kospi jumped 4.84%, while
the small-cap Kosdaq declined 0.68%. Shares of Samsung Electronics rose 6%
after unionized workers at the company in South Korea approved a provisional wage agreement, averting a potential
strike that could have disrupted global semiconductor supply chains.
In Australia, the S&P/ASX 200 was up
0.13%.
Hong Kong’s Hang Seng index was flat,
while the mainland CSI 300 was up 0.27%.
U.S. forces carried out what the Pentagon
described as “self-defense”
strikes in southern Iran early Tuesday, targeting missile launch sites
and Iranian vessels allegedly attempting to deploy mines, even as Washington
insisted it was still observing restraint under the ongoing ceasefire
framework.
The military action highlighted the
fragile truce between Washington and Tehran, with both sides continuing to test
limits despite negotiations that the White House has described as nearing
completion.
President Donald Trump said Monday
that talks with Iran to end the war were “proceeding nicely.” That said, he did
warn the U.S. could go on the offensive if negotiations break down.
Overnight on Wall Street, the S&P 500 and Nasdaq Composite rose to
fresh intraday all-time highs on Tuesday, led by technology, as traders weighed
the developments in the Middle East.
The broad market S&P 500 gained 0.61% and
ended at 7,519.12, while the tech-heavy Nasdaq gained 1.19% to
26,656.18. Both indexes also closed at records. The Dow Jones Industrial Average lost
118.02 points, or 0.23%, ending at 50,461.68. U.S. stock markets were closed
Monday due to the Memorial Day holiday.
Asia
markets: investors weigh fragile Iran ceasefire, possible U.S.-Iran deal
Stock futures are little changed after the S&P
500 closes at another record: Live updates
Updated Wed, May 27 2026 12:04 AM EDT
U.S. stock futures were little changed
early Wednesday after a tech-drive rally lifted the S&P 500 and Nasdaq Composite to new
records.
S&P 500 futures were
marginally higher, while futures
tied to the Dow Jones Industrial Average added 40 points, or less than
0.1%. Nasdaq 100 futures were
near the flatline.
Stocks making the biggest moves in
Tuesday’s extended trading session included Zscaler, which tumbled 19% after
guiding for current-quarter revenue below what analysts polled by LSEG were
seeking. Meanwhile, shares of Insulet fell
8% after the diabetes management company announced a voluntary medical device correction for specific lots
of several of its pods.
During the day’s regular session, a rally
in the technology sector drove both the broad market index and tech-heavy
Nasdaq to fresh intraday and closing highs. The S&P 500 added 0.61%, while
the Nasdaq popped 1.19%. On the other hand, the blue-chip Dow shed 118.02 points, or
0.23%.
Tuesday’s gains were driven by shares
of Micron Technology, which
surged 19% to top $1
trillion in market capitalization for the first time. Investors were
also encouraged by messages from President Donald Trump indicating that talks
with Iran to end the war were “proceeding nicely.” While the U.S. conducted
“self defense” strikes in southern Iran early Tuesday, Central Command
spokesman Tim Hawkins said that the U.S. used “restraint during the ongoing
ceasefire” between the two nations.
Hopes of easing tensions, alongside a
strong earnings season, have propelled stocks to numerous new record highs this
year. But Drew Pettit, U.S. equity strategist at Citi, doesn’t see much more
room for stocks to run from here.
“You got yields higher, like 4.50% on the
[U.S. 10-year Treasury] , and
you have inflation expectations higher in a curve that’s actually gotten
flatter throughout the year. All of that doesn’t set you up for a higher
sustainable multiple at this point,” he
said on CNBC’s “Power
Lunch” on Tuesday afternoon.
Pettit’s 7,700 year-end target for the
S&P 500 implies a modest increase of just 2% for the index.
Bank
of Montreal, Bath &
Body Works, Capri, Dick’s Sporting Goods, Manchester United and Abercrombie & Fitch will
report earnings before Wednesday’s opening bell.
Stock
market today: Live updates
ECB ‘will do what is necessary’ to tame inflation,
Bank of France governor tells CNBC
Published Tue, May 26 2026 9:53 AM EDT
The European Central Bank “will do what is
necessary” to keep inflation on target, one of its top policymakers has told
CNBC.
Speaking to CNBC’s Lisa Kim in Singapore on
Tuesday, Bank of France Governor Francois Villeroy de Galhau sought to reassure
sovereign debt markets that central bankers in Europe were committed to
minimizing the impact of the Iran war.
Spiking oil prices, a result of the
effective closure of the Strait of Hormuz, have fueled concerns that an energy
crisis could lead to a resurgence of inflation in various markets.
Villeroy de Galhau, who is a member of the
ECB’s Governing Council, added that European policymakers “will do what is
necessary as an independent central bank to bring inflation back to target.”
“If I speak on behalf of the ECB, this
means do what is necessary to bring inflation back to 2% in the medium term.
Markets can be assured of that,” he told CNBC.
Eurozone inflation had dipped below the
ECB’s target to 1.9% before the war in the Middle East began with joint U.S.
and Israeli strikes on Iran on Feb. 28. Inflation in the eurozone jumped to 3% in April, up from 2.6% in March.
Europe is particularly vulnerable to
energy shocks as a major net energy importer. Prices of gasoline, diesel and
jet fuel have surged in recent months, prompting government intervention in
some countries and warnings of flight cancellations over
the summer.
Villeroy de Galhau told CNBC that there
was a fear of inflation permeating financial markets, which was particularly
visible in government bonds.
“The effect of the Middle East conflict is
clear,” Villeroy de Galhau told CNBC. “In the short run, there are significant
upward pressure first round effects due to energy prices, but it’s our
responsibility, I would even say our commitment to prevent second round
effects.”
More
ECB
inflation outlook: Villeroy says bank ready to act
In other news.
Australian businesses under pressure as fuel
shortages bite
Source: Xinhua| 2026-05-26 12:11:45
CANBERRA, May 26 (Xinhua) -- Australia's
businesses are facing pressure from rising fuel costs and supply disruptions,
with 72 percent reporting negative impacts, official data showed on Tuesday.
The data from the survey of business
conditions and sentiments highlights the economic impacts of the closure of the
Strait of Hormuz, a key oil transit route, on Australian businesses, said Tom
Lay, head of business statistics at the Australian Bureau of Statistics (ABS).
"Businesses across all industries
were impacted by rising fuel costs from global volatility and ongoing supply
chain disruptions," Lay said, adding one in six businesses reported supply
chain interruptions, particularly in transport, logistics, agriculture and
small businesses.
About 36 percent said revenue had dropped
over the past four weeks, while 27 percent expect further declines in the
coming month, said an ABS statement.
Half of businesses reported rising
operating expenses, driven mainly by higher fuel, freight and delivery costs,
the statement said.
About 60 percent of firms adjusted
operations due to fuel costs or supply in May, it said, adding that nearly half
absorbed costs, while others raised prices, delayed production, or added fuel
surcharges.
About 28 percent of businesses made
changes to their workforce, including cutting non-essential travel and reducing
staff, the statistics showed.
Australian
businesses under pressure as fuel shortages bite-Xinhua
China switched on the world’s largest offshore
wind turbine and researchers are now watching for measurable local atmospheric
effects, because at this scale the rotor is big enough to change turbulence and
mixing, not just generate electricity
Published On: May 25, 2026 at 12:30
PM
China has switched on a 20-megawatt
offshore wind turbine that’s being described as the largest of its kind, a
headline-grabbing leap for renewable power and a clear signal that “bigger” is
still the industry’s favorite direction of travel. But the more interesting
twist is what came next.
Early reporting says researchers noticed
unexpected shifts in the local microclimate around the installation, including
changes in air currents and how temperatures are distributed nearby.
Can one machine really “touch” the weather
around it? In a limited, local sense, yes, and that matters because offshore
wind is moving from niche to mega-infrastructure.
As turbines scale up, the clean-energy
benefits people see on an electric bill can arrive alongside new questions
coastal planners and environmental scientists have to measure instead of guess.
A record breaker built for rough seas
The turbine highlighted in the briefing is
located in waters near China’s Hainan province in the South China Sea, with
reports describing a structure about 242 meters tall and blades around 128
meters long.
It’s also built to tolerate extreme
conditions, including gusts up to 80 meters per second (roughly 178 miles per
hour), which is the kind of number you associate with typhoon resilience, not
everyday operations.
Industry reporting identifies the unit as
Mingyang Smart Energy’s MySE18.X-20 MW, with flexible
ratings up to 20 MW and rotor diameters reported in the 260 to 292-meter range.
That same reporting says that at an
average wind speed of 8.5 m/s, annual generation could reach around 80 million
kWh, with an emissions-offset estimate of 72,500 tons of CO2 and an
electricity-equivalence claim of about 96,000 households.
Why a wind turbine can nudge local weather
A wind turbine works by pulling energy out
of moving air, and that energy extraction creates turbulence and a downwind
“wake.”
Offshore, that wake can persist longer
than on land because the ocean surface is smoother, and a U.S. Bureau of Ocean
Energy Management (BOEM) white paper summarizes research showing offshore wakes
measured from zero to 43 miles, with modeling up to 62 miles when multiple
turbines interact.
That does not mean offshore wind farms
“heat the planet,” and BOEM stresses that wind-farm microclimate effects are
better described as localized redistribution of temperature and humidity, not a
net increase in heat or water vapor.
More
The demand for money is regulated entirely by its value, and its value by its quantity.
David Ricardo
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians.
More
funny money is coming as Uncle Scam gets ever more desperate to prop up the 39+
trillion of US official debt, heading to about 50 trillion of debt in about
2035.
The goal is to tokenize the U.S. dollar for 24/7 settlements so
that it continues to hold its dominance in global trade.
Just
wait until AI hackers get to the tokenized US fiat dollar, or even start to issue
their own “tokenized US fiat dollars” probably starting next year.
China, Japan, UAE, India sell billions in US
Treasuries
May 25, 2026
As per latest data from the
Treasury International Capital (TIC) System, several countries sold billions of
dollars worth of U.S. Treasuries in March 2026.
Japan and China led the exit, selling
$47.7 billion and $41 billion worth of U.S. Treasuries in March.
Luxembourg (13.7 billion), Taiwan
($12.7 billion), Saudi Arabia ($10.8 billion), India ($7.6 billion), Canada
($6.9 billion) and the United Arab Emirates ($5.8 billion) were also among the
major sellers.
However, some countries added to their
U.S. Treasury holdings in March, such as the United Kingdom ($29.6 billion),
the Cayman Islands ($16.4 billion), and Germany ($3.7 billion).
Overall, the U.S. Treasuries saw a
sell-off of $138.4 billion in March 2026.
The development comes amidst the declining
value of the U.S. dollar over the last few years.
The U.S. Dollar Index (DXY), which
measures the value of the dollar against a basket of six major foreign
currencies: Euro, yen, pound, Canadian dollar, Swedish krona, and Swiss franc,
was as high as 113 points in October 2022.
But the index has continued to tank in the
later years and stood at 99 points at the time of writing.
GENIUS Act aims to cement dollar's
dominance
The U.S. government is well-aware of the
challenge to the U.S. dollar's global dominance and is taking
innovative steps to contain the damage.
One of these steps is the landmark
legislation called the GENIUS Act that is aimed at global adoption of U.S.
dollar-pegged stablecoins.
A stablecoin is a type of cryptocurrency
designed to maintain a fixed value by pegging it to a real-world asset, most
commonly the U.S. dollar. Unlike volatile assets like Bitcoin, 1 stablecoin
holds the same value as that of $1.
It's no secret that the dollar still
commands the global trade, whether it's commodities like oil or cross-border
settlements like SWIFT. Even countries wanting to de-dollarize global trade are
forced to settle their trades in the dollar because other alternatives
are weaker and less liquid.
But while SWIFT settlements take a longer
time and only work on weekdays, stablecoins make cross-border settlements
faster and don't even sleep on weekends and public holidays.
In July 2025, President Donald Trump signed the GENIUS
Act into law to regulate U.S. dollar-pegged stablecoins. The legislation
mandates strict stablecoin reserve, transparency, and oversight requirements
within a federal framework.
The goal is to tokenize the U.S. dollar
for 24/7 settlements so that it continues to hold its dominance in global
trade.
As per DeFiLlama, the total
stablecoin market capitalization has surged from $260 billion in mid-July
2025—when Trump signed the legislation into law—to $322 billion at the time of
writing.
In fact, popular stablecoin companies like
Tether and Circle have become major holders of U.S. Treasuries.
Tether claimed to hold U.S.
Treasury bills worth $122.32 billion as of Dec. 31, 2025, and Circle
claimed to hold $20.9
billion in U.S. Treasury securities as of March 11, 2026, as per
attestation reports.
China, Japan, UAE,
India sell billions in US Treasuries
China industrial profits jump 24.7% in April,
fastest gain in over two years despite headwinds
Published Tue, May 26 2026 9:51 PM EDT
BEIJING — China’s industrial profits
surged by 24.7% in April from a year earlier, according to official data
released Wednesday, despite broader signs of slowing economic momentum.
The increase marked the fastest growth
since November 2023, according to financial data provider Wind Information, and
accelerated from a 15.8%
rise in March.
For the first four months of the year,
industrial profits rose 18.2%, up from 15.5% growth in the first quarter.
Computing and electronics equipment manufacturing, the largest sector by profit
amount, saw earnings more than double from a year ago, although the pace slowed
slightly in April from March on a year-to-date basis.
Among the ten largest sectors by profit,
the oil and gas extraction industry posted an 8.1% rise in profits in the
first four months of the year, reversing a 1.4% decline in the first quarter.
Higher crude prices helped lift profits in
the petroleum processing industry to 40.42 billion yuan ($5.96 billion) in the
January-April period, nearly double the 22.94 billion yuan recorded as of
March.
Profits for automobile manufacturers fell
16.8% in the same period from a year earlier, improving from a 17.7% decline in
the first quarter.
Beijing’s efforts to address excessive
competition in the automobile and other sectors are starting to bear
fruit, EU Chamber of Commerce of China President Jens Eskelund told reporters
on Tuesday, citing a survey
of members earlier in the year. But he cautioned it would take another
year or two to confirm the trend.
A fivefold increase in profits in the
mining and related sectors also boosted overall industrial profit growth, while
iron smelting and rolling swung to a profit for the year as of April, compared
with a loss in the first quarter.
However, profit declines in furniture
manufacturing steepened to 54.4% for the first four months of the year, worse
than the 44.9% recorded as of March.
“China’s industrial profit growth
accelerated sharply in April, driven primarily by rising producer prices amid
the global energy shock,” Hao Zhou, head of research and chief economist at
Guotai Junan International.
“However, the improvement in profitability appears uneven and potentially
fragile. Profit gains are concentrated in upstream and high-tech sectors, while
many other industries continue to struggle,” he said in a note.
China reported slower
economic growth in April, with a 4.1% increase in industrial output and a
0.2% rise in retail sales from a year ago. Fixed asset investment fell for the
first four months of the year as the real estate drag steepened.
Exports
remained strong, climbing 14.1% in April from a year ago in U.S. dollar
terms. Imports
surged by 25.3%, data released earlier in May showed.
The producer price index in April jumped
2.8% from a year ago, the most
since July 2022.
China
industrial profits jump 24.7% in April, fastest gain in over two years despite
headwinds
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section Updates as they get reported.
Well, if he says so, and have I got a
bridge in Brooklyn to sell him.
Donald
Trump says the US is developing medicine 'to bring people back to life'
The
US President claims that the drug has been tested and shown promising results
22:57, Mon, May 25, 2026 Updated: 23:15,
Mon, May 25, 2026
Donald Trump has claimed that the US are working on
discovering a medicine that can bring people back to life.
The president made the shocking statement in a press
conference from the Oval Office.
Trump stated that the drug
has been tested and is showing positive results.
He said, "Without
waiting many, many years, we know the drug works because we've taken people who
were dead. We had a person given the last rights, gone.
"The kids are crying and
everything, and given them this drug and the person became better.
"It works. You know, and
some don't work, but you learn really fast. It's called the ultimate
test."
However, the US president
spared ant details, giving no clinical data or the specific name of the
substance.
He linked the successes to
the Right to Try Act, a policy that allows terminally ill patients to access
experimental treatments.
The legislation was passed
during his first administration.
Medical professionals and
critics have unsurprisingly responded to the claims with significant scepticism.
It has been argued that this
story has been exaggerated from severely ill patients, rather than clinically
dead patients with professionals stating the drug simply does not exist.
There was also backlash from
the medical world after the conference due to the promotion of 'fake drugs'.
The announcement comes as the
US administration is making a shift in public health funding, moving to cut
programs for FDA-approved life-saving treatments like Narcan.
Medical experts also
highlighted that federal support for proven death-preventing tools (such as
fentanyl test strips) is being prohibited.
Outside of the medical world,
Trump's claims received further criticism with his statements being compared to
a movie plot.
Many shocked listeners
understandably thought the unnamed drug in question must be fake.
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks
(usdebtclock.org)
Oh, the grand old Duke of Trump,
He had ten thousand men;
He marched them up to the top of the hill,
And he marched them down again.
When they were up, they were up,
And when they were down, they were down,
And when they were only halfway up,
They were neither up nor down.
With apologies.
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