It seems that EU leaders aren't invited to the meeting with Zelensky & Trump...
DC schedule says it all: solo with Zelensky in the Oval; EU/NATO chiefs bumped to the dinner after-party. Trump is floating a Zelensky–Putin–Trump 3-way this week... but only if Monday goes smooth. Source: BILD thru Mario Nawfal
U.S. President Donald Trump said Sunday the onus to end the war between Moscow and Kyiv is on Ukrainian President Volodymyr Zelenskyy.
In a post on Truth Social, Trump said that Zelenskyy could “end the war with Russia almost immediately, if he wants to, or he can continue to fight.” “Remember how it started. No getting back Obama given Crimea (12 years ago, without a shot being fired!), and no going into NATO by Ukraine,” Trump added in the post, mirroring demands by the Kremlin for recognition of its annexation of Crimea and for Ukraine to be excluded from the NATO alliance. Source: CNBC
🚨 JPMorgan now expects the Fed to cut rates four times in 2025, starting as early as September and bringing the benchmark down to 3.25%–3.5%.
Source: CryptosRus @CryptosR_Us
German 30y bond yields climbed to 3.35%, the highest level since 2011.
Investors are demanding higher term premia as the surge in bond supply weighs on the market. Source: HolgerZ, Bloomberg
Ahead of Jackson Hole this week, we note that US Financial Conditions are basically at their loosest in the post-COVID era...
Source: zerohedge
🚨A very interesting chart: The BLS collects roughly 90,000 price quotes each month across 200 categories to calculate CPI.
Normally, about 10% of prices are estimated when data is missing. Now around 32% are MADE UP, based on assumptions, not real prices, double the share seen in the 2020 Crisis... Source: Global Markets Investors, BLS, zerohedge
Another look at us core inflation...
What do you see? Do you think it is steady? "A picture is worth 10,000 words" Source: Andrea Lisi, CFA @Andrea_Texas_82
President Trump is reportedly eyeing 11 names to replace Fed chair Powell
Full List: 1. David Zervos -- Chief Market Strategist at Jefferies 2. Kevin Warsh -- Former Federal Reserve Governor 3. Rick Rieder -- CIO for Global Fixed Income at BlackRock 4. James Bullard -- Former St. Louis Fed President 5. Michelle Bowman -- Fed Vice Chair for Supervision 6. Chris Waller -- Fed Reserve Governor 7. Philip Jefferson -- Fed Vice Chair 8. Marc Summerlin -- Former economic advisor in the George W. Bush admin 9. Lorie Logan -- Dallas Fed President 10. Kevin Hassett -- Director of the National Economic Council 11. Larry Lindsey -- Former Fed Reserve Governor Polymarket lists Waller at +250 for next Fed Chair. Source: Polymarkets, Shay Boloor @StockSavvyShay
