B_radRiffs

PCE price index jumped 0.4% M/M in Apr and is now up 1.8% just in '26:

New Home Sales 622K, Exp. 660K, Last 682K

BREAKING: Foreign US Treasuries held in Fed custody are down to $2.68 trillion, the lowest since 2012. This measures the value of US government bonds held on behalf of foreign governments, central banks, and other international institutions through accounts at the Federal Reserve. Since March 2025, Treasury holdings of foreign institutions have declined by -$265 billion. The drop accelerated since the start of the Iran War, with holdings falling ~$120 billion in just 3 months. By comparison, Treasuries held in custody at the Fed peaked at $3.14 trillion in March 2021. This comes as foreign central banks and governments have sold Treasuries to raise US Dollars to prop up their currencies against the inflationary pressures of surging oil prices. Foreigners are reducing their exposure to US government debt.

This is unsustainable: personal spending growth is surging while income growth is collapsing, resulting in an extremely rapid drain of personal savings

TRADERS REDUCE BETS ON BANK OF ENGLAND INTEREST RATE INCREASES, NOW PREFER A SINGLE 25 BASIS POINT HIKE THIS YEAR.

*GOLDMAN'S WALDRON: CONSUMER IS EXTRAORDINARILY RESILIENT thanks to draining savings

RBC SEES US FED BANK OF CANADA KEEPING RATES STEADY IN 2026

The debt crisis is not simply about government debt-to-GDP ratios. That is the nonsense economists use when they want to ignore capital flows. Turkey’s problem is external vulnerability, inflation, reserve pressure, foreign capital dependence, and the rising cost of rolling debt in a world where capital is no longer blindly funding everyone. ING estimated Turkey’s gross borrowing needs could rise more than 62% this year to TRY 6.382 trillion, driven by redemptions and higher debt costs. That is the debt crisis in motion.

BREAKING NEWS THE EUROPEAN CENTRAL BANK IS WARNING THAT THE UNITED STATES RISKS TRIGGERING FINANCIAL CRISIS WITH IRAN WAR Interesting that they would say this out loud. 🤔

*BANK OF KOREA LEAVES POLICY RATE UNCHANGED AT 2.50%; EST 2.50%

US Treasury Secretary Bessent: Prices are transitory, oil will be lower when the war ends.

Hunter Biden: "I think there's incredible promise in cryptocurrency. I think it is incredible freedom in a world in which we've been controlled by banks. I truly believe in what Satoshi, kind of the manifesto of Bitcoin."

Take note gents, tails are back in style…

*TRUMP ON IRAN: WHEN THEY BEHAVE WE'LL LET THEM HAVE THEIR MONEY