I was watching the ABC feed earlier and it had a similar feel. It’s the kind of footage that’s played in documentaries years later to demonstrate complicity in the coming horrors.
Cnn dudes just talking about how good and fun the vibes are at the RNC, full of people doing drunk uncle at the wedding dancing holding Mass Deportation Now signs while a cover band that would have to beg to open on a Tuesday night bill plays b-tier boomer rock hits
It always starts with privatizing healthcare and underfunding public healthcare so it gets worse and more private corporations have to step in.
Would be a complete and utter disaster
They’ve done this a few times where they appoint oil guys to head the department of energy. That’s not where you put the oil guys if you want to be evil, you put them in Interior! At Energy you just spend all your time talking to nuclear engineers.
A department he ended up the secretary of! I’ve also never figured out why republicans want to get rid of it. Most of its work is on nuclear power and nuclear weapons.
ASML halted for volatility down 11%. Dutch name w/ monopoly on advanced lithography semiconductor manufacturing equipment gave a weaker-than-expected Q3 guide at earnings this morning. Also report overnight that USG might tighten ASML sales to China. Background: www.bloomberg.com/news/article...
Market reaction: two cuts this year fully priced now, 25% chance of three. Two year yields (~Fed Funds rate 1y from now) down 10 bps on the day to 4.52%, lowest since March. 10y to 4.20%, lowest since early April.
June CPI WEAKER than expected, by a fair bit.
June CPI -0.1% MoM vs +0.1% exp/0.0% prev.
Core CPI +0.1% MoM vs +0.2% exp/prev.
YoY CPI to 3.0% vs +3.1% exp/+3.3% prev.
YoY core to 3.3% vs +3.4% exp/prev.
Details and analysis to follow threaded below.
June CPI report in 5 mins probably the single largest of the year. If it's weak (low), a September cut is very much possible. If it's strong (high), pre-election cuts are ruled out.
Headline seen up 0.1% MoM after a flat May, core expected up 0.2% same as May. Headline seen +3.1% YoY, core +3.4%.
