Fitz macro

End of an era. #Koch Minerals/S&T has officially stopped trading #oil. They did the first customer swap in 1986 and had been at the cutting edge of oil trading for decades. I learnt from them and their excellent traders #MBM. Best wishes to the alumni. #oott

@izakaminska Call Sports Direct. They seem to buy everyone else.

FRIDAY 👢 TRAGEDY 😢. Russell & Bromley has collapsed into administration and is fire-selling all its stock. This is actually incredibly horrible. Where am I going to get my nice shoes from? It was literally the last proper shoemaker in the country — at least one that wasn’t a conventional designer label priced out of reach for normal people. Shoes from R&B could last for years. It was a real beacon of middle-class Britain. Arguably, says more about the state of the British middle class than anything else. Bearish signal. gbnews.com/money/russell-…

The US military has not fought a corps-sized maneuver warfare against an regular military in 35 years. (Iraq 1991) They have not fought a corps-sized maneuver warfare against a peer enemy for 73 years. (Korea 1953). They are not going to survive invading the fortress of Iran.

Trump ended military support for Ukraine. It was a direct betrayal of the Budapest Memorandum. But now it gets even worse. European nations raised $750 million to buy U.S. weapons for Ukraine. They sent the money. And now Trump refuses to deliver because of the war he started with Iran. A war involving Iran is no longer just about the Middle East. It is reshaping the battlefield in Ukraine as well.

.@RepLuna giving a private tour of Capitol Hill to members of the Russian Duma delegation

@DJax44WY @jackprandelli Their well are mostly unimpacted it's the condensate that's been impacted about 500kbd.

@jackprandelli After the last four nights of Russia getting pummeled Russia maybe producing less than ND!

🇺🇸 The US produces more oil than Saudi Arabia and Russia combined. While the Gulf burns and Hormuz chokes America just became the world's last energy superpower. Drill, baby, drill wasn't just a slogan 🛢️ It was a strategy. 🎯

@jackprandelli @wbmosler Just cause its a pretty picture it doesn't make it right. It's also pretty old.

@jackprandelli The US doesn't produce more than Russia ans Saudi combined. If the strategy was drill baby, why was President trying to keep down oil prices for the last 18 months and scared away investment in new wells? Only after a sudden shock are producers locking in profits and investing.

Odey fired executives for telling him to ‘sit in dungeons’ to protect women - ft.com/content/aa02ff… via @FT

Should Sweden finally adopt the euro? - ft.com/content/009cdd… via @FT

Pernod Ricard and Jack Daniel’s owner in talks to combine operations - ft.com/content/24385f… via @FT

The new Disney CEO’s horrible first week - ft.com/content/9ff569… via @FT

How Italy’s oldest bank turned on its saviour CEO - ft.com/content/929e68… via @FT

UBS gates €400mn property fund for up to 3 years - ft.com/content/67d6e6… via @FT

Ships forgo cargo to carry fuel as Iran war sends prices soaring - ft.com/content/44c0b1… via @FT

Trump administration blocked from punishing Anthropic over Pentagon row - ft.com/content/db1392… via @FT

Echoes of history: what the oil shock means for your money - ft.com/content/37ab11… via @FT

@Market_Mind_ The problem with this people is BRICS is not alternative.

Global Reserve Currencies Since 1450 🏛️ 🇵🇹 Portugal — 80 Years (1450–1530) 🇪🇸 Spain — 110 Years (1530–1640) 🇳🇱 Netherlands — 80 Years (1640–1720) 🇫🇷 France — 95 Years (1720–1815) 🇬🇧 Britain — 105 Years (1815–1920) 🇺🇸 USA — 106 Years (1920–Present) History suggests that global reserve status usually shifts every 80 to 110 years.

"A horse never runs so fast as when he has other horses to catch up and outpace." -- Publius Ovidius Naso "Ovid" Bloomberg quotes