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BREAKING: US Treasury Secretary Bessent accuses China of holding back products that are essential to the US industrial supply chain.

BREAKING: US Commerce Secretary Lutnick says tariffs are “not going away.”

More Americans are carrying higher mortgage rates: 20% of mortgages in the US now have rates greater than 6%, the highest share in 11 years. This percentage has increased FIVEFOLD over the last 3 years. At the same time, the share of mortgages with rates less than 3% has

US Treasury Secretary Bessent just now: China is "withholding some of the products that they agreed to release during our agreement." He confirms these products are rare earth minerals and says "maybe it's a glitch in the system, maybe it's intentional." Is China violating the

Trump just now: “If the courts rule against us on tariffs, that would allow other countries to hold our nation hostage.” Trump says this would result in “economic ruination” for the US.

Container shipping traffic from China to the US is plummeting: The number of ships departing from China to the US over the last 15 days has dropped to its lowest since February. Excluding the Chinese New Year-related decline in February, this is the lowest level in over a year.

Rising government bond yields are a global phenomenon: Japan’s 30-year bond just rose 50 basis points in 30 days and crossed above 3.0% for the first time in history. At the same time, the 30-year Treasury yield surged 30 basis points and crossed above 5.0% for the first time

BREAKING: The Bank of Japan's unrealized losses from government bonds hit a record $198 billion in Fiscal Year 2024. Paper losses have tripled from the previous year’s ~$66 billion. This comes as Japan’s 10-year yield doubled in one year, to ~1.5% at the end of March. At the

The Kobeissi Letter for the week of June 2nd has been published and may be viewed through the link below: bit.ly/TheKobeissiLet… The Chart of the Week for the week of June 2nd has been published. View or sign up for FREE through the link below: bit.ly/TKLChartofWeek

BREAKING: Crypto funds saw $3.3 billion in net inflows in the week ending May 23rd, the second-largest amount this year. Investors poured the most money into Bitcoin funds, at $2.9 billion, followed by $326 million into Ethereum funds. Since 2019, cumulative net inflows to

BREAKING: China says it will "take forceful measures to safeguard its legitimate rights and interests" if the US insists on "going its own way and continues to undermine China's interests."

BREAKING: Japanese equity funds posted a record $11.8 billion in net outflows last week. This brought the 4-week moving average of outflows to $4.0 billion, an all-time high. Investors’ concerns over rapidly rising long-dated Japanese government bond yields were behind the

Commodities are deep green after this weekend’s Ukrainian drone attack on Russia. The market is unfortunately pricing-out a peace deal between Russia and Ukraine.

The strangest part about this weekend's events: Ukraine carried out a drone attack on Russia which reportedly took out 30%+ of Russia’s strategic cruise missile carriers. This is being described as "Russia's Pearl Harbor," one of the most devastating attacks on Russia in

BREAKING: US ISM Manufacturing Imports fall to 39.9, the lowest level since 2009. We are seeing 2008-like contraction in manufacturing imports as tariffs take effect.

The relationship between the US Dollar and Treasury yields has broken down: Since April 2nd, the 10-year note yield has risen +27 basis points, to 4.43%. At the same time, the US Dollar index, $DXY, has declined -5.2% to near its lowest level in 3 years. This is a material