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Did you know that both doves and hawks can fly?

Today's dove/hawk scale is in the top panel; contrast it with the scale from before the Iran war, at the end of February.

Categorization by Bloomberg's BQuant.

While "everyone" has been glued to whether the Fed hikes next week, the bigger story is the hikes priced over the next year.

Sep ’27 rate repriced 50 bps higher this week, mostly on oil (WTI 80→100+). Only 11 bps came from Sep hike odds rising 36%→81%.

src: BBG, Merk

Bloomberg @mckonomy brought the CPI report to the context Warsh provided: not enough progress is being made.

💔

Paul Tudor Jones is chiming in on the AI “will kill all humans” debate, urging cooperation with China.

Think what you want about AI, but China won’t cooperate with the US.

It’s an arms race. If you throttle US development, you lose.
wsj.com/opinion/ai-may…

For years, 9/11 videos were rarely shown, so as not to trigger - a term that didn't exist in 2001.

I get that it's time to show a younger generation the horror that unfolded.

Please remember: this was real and is painful to watch. Skip the "wow" commentary.

In the ECB presser, Lagarde was asked about FX intervention. Lagarde: I'm not going to comment, followed by "it was 500 million euros", bows her head slightly and makes a face that screamed "this was petty change - why are we talking about this?"