fed held the rates same as expected

10Y dropped under 5p ..

As French 10Y go higher than US ..!

Both are right indicating slower growth from here; addionally, Crude near 100 is not helping ..!

CPI came hot ...

No surprise there .. market drops about 1p .. no worries there .. but the cause of inflation so far is mainly crude and diesel.. so it's all Trump did poking iran where he had no business .. tariffs w/o congress approval .. SC slashed them ..  anyway, dems get the house, at least and put a check on him and life becomes a bit normal.

Trump does a deal with Putin for Diesel ...

Simply a lol moment .. nothing else to add ..!

wide gap is happening bet paper crude and physical delivery ...

delivery/physical crude is about $30 higher than the paper / futures ..

exact opposite phenomenon to what occurred during Covid when crude futures went negative to -35.

shouldn't Sarah Fryer! be fired ..?

a 3rd of openAI projected revenue just got wiped out ... taking markets lower ..!

lower crude & low NFP caused ...

drop in yields to 5.16p