Iran War Sees Lowest U.S. Approval Rating Ever
Source: Voronoi
Will the 25th Amendment be used during Trump's Presidency?
*The 25th Amendment to the U.S. Constitution, ratified in 1967, establishes clear procedures for presidential succession and for temporarily transferring power to the Vice President when the President is unable to discharge the duties of the office, either voluntarily (Section 3) or involuntarily via the Vice President and Cabinet (Section 4). Source: *Walter Bloomberg
Oil product exports from the Middle East dropped 65% in March compared to February.
However, they may increase going forward. Why? Iran has recently categorized countries as: 1. Friendly; 2. Neutral; and 3. Non-friendly. Friendly countries will have free passage through the Strait of Hormuz, while neutral countries will be allowed to pass with a fee. This should enable higher levels of oil and other exports from the Middle East, but possibly still less than in February. Source: BraVoCycles Newsletter
The military budget Trump proposed today is $1.5 trillion.
Adjusted for inflation, that's $260 billion higher than the largest military budget on record. Source: Stephen Semler
Markets have historically tended to bottom well ahead of broader spillover effects.
As Andreas Steno Larsen notes, “markets typically bottom when the rate of change improves.” Source: TME
Iranian “missile hit rates against Israel have risen from 3% during the first two weeks of the war to 27%.”
Source: Carl Quintanilla
Iran's attacks on Arab countries
Source: AlMajallaEN
JP Morgan just published a countdown for when the last ships carrying il from the Middle East will reach each continent:
🇨🇳 Asia: April 1st (today) 🇪🇺 Europe: April 10th 🇺🇸 North America: April 15th 🇦🇺 Australia: April 20th Source: Rand Group @cryptorand JP Morgan
