With just 60 days until the US midterms, the pressure on the White House is intensifying.
Diesel at $240 a barrel. Gasoline at $4.10 a gallon. The US 10-year yield at 4.75%. As the economic pain mounts, the President will face growing pressure to do—or say—whatever it takes to bring oil prices down. Source: Brad Moseley
Iran war risk is still there
Source: Bloomberg Economics
PRESIDENT TRUMP says he's NOT trying to force Iran to the bargaining table and "couldn't care less" if they sign a deal.
"When are the Iranian people going to rise up and fight?" Source: Bull Theory
There has never been a less popular war, a result of the president's unserious approach to the war and his refusal to rally the people or congress.
Source: Mike Nelson
In case you missed it... Canada to double existing counter-tariffs on US steel and aluminum products to 50%, in addition to other tariffs on furniture, clothing, and electronics.
Source: Kevin Gordon
President Trump says tariffs on Canada will be increased to 50% on “all cars, trucks, both large and small, automotive parts, and steel” on January 1st 2027
“Canada will be treated like a state no longer” Source: TrendSpider
The US could soon target Chinese banks over Iranian oil
China buys roughly 90% of Iran’s oil exports, largely through independent refiners. Purchases are slowing — from around 823,000 barrels/day in July to 534,000 in August — but they haven’t stopped. Now the stakes are rising. Treasury Secretary Scott Bessent has warned that entities doing business with Iran could be cut off from the US dollar system. Beijing’s response? Sanctions are not the solution, and China will defend its economic interests. The potential escalation is significant: If China keeps buying Iranian crude, Washington could move against Chinese financial institutions facilitating those trades. At that point, this would no longer be just about Iran. It could become a direct financial confrontation between the US and China — with the dollar system at the center of it. Source: Bull Theory
The Week Ahead : Several key events next week could impact global markets.
Monday: • Treasury Secretary Bessent announces new Iran economic measures Wednesday: • 🇺🇸 US PCE inflation • 🇺🇸 US Q2 GDP revision • $NVDA earnings report Thursday: • Bank of Korea interest rate decision • Jackson Hole Symposium begins Friday: • Fed Chair Kevin Warsh speaks at Jackson Hole Source: CryptoTweets
