U.S PCE 3.7% / NVDA 'beat' / U.S Diesel : 23y supply lows / Wheat prices 3y highs / EU Gas storage low

• Markets : #USD ''The US will sacrifice the dollar to save the bond market. It doesn't matter who is in power or how tough they act... When push comes to shove, they will always choose to print to save the bond market'' Greenspan and any of his successor.., Oil’s war premium is unwinding again, Brent has dropped almost 9% in 4 days as the market increasingly prices a US-Iran exit ramp, The Fed’s preferred inflation gauge, Core PCE, came in at 3.7% YoY, and GDP was 1.5% QoQ (so slow...and inflation is high-er still...), NVDA rallies on strong results (AI-fueled sales surge to extend into 2028), Bank of Korea lift rates to 3% (+25bps), US Diesel supplies hit 23y lows as demand season looms, Wheat his a 3y high as Russia prepares to escalate war, Europe’s gas stores are running low — and prices could top 100 euros this winter

• Trump plan to raise borrowing limit on shaky ground as debt roils bond market

• Qatar is forecast to contract 8.6% in 2026, steepest decline among GCC states, Iran and Oman agree to share Strait of Hormuz revenue

• #debasement trade : Jeffrey Currie: I can see $10,000 gold and $300 silver

• #crude The idea that the US government decides what oil prices do and uses trading firms to implement it is ludicrous in a 5 billion barrel daily paper market / Thread, and Morgan Stanley has RAISED its 4th quarter Brent crude oil forecast to $100/bbl

• German Chancellor Merz: "We have to get out of this climate of gloom and frustration"

• OpenAI’s Jalapeño AI chip brings new ‘threat’ to Nvidia margins

• Why Did John Ratcliffe Go to Moscow? Despite Trump’s claims, the CIA director’s visit was anything but routine. It might be a sign that Putin is getting more dangerous

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From escalation to exit ramp why oils war premium is unwinding again | Saxo

Jackson Hole could trigger dollar, bonds sell-off, market watchers say

Ranked: Which Countries Hold the Most U.S. Debt?

Nvidia makes bold $108B promise in blockbuster earnings, but issues a warning - TheStreet

OpenAI Jalapeño AI chip challenges Nvidia in inference

Qatar's Economy to Contract 8.6% This Year

What the CIA Director’s Mysterious Trip to Moscow Could Mean - The Atlantic

Bank of Korea raises rate to 3% in first consecutive post-pandemic hike

Merz Targets 1% Growth As Germany Moves To Revive Economy – Arise News

U.S. Diesel Reserves Sit Near 23-Year Lows | OilPrice.com

SK Gas pays record $5.3m to jump Panama Canal queue - Splash247

Europe’s gas stores are running low — and prices could top 100 euros

Rising debt concerns threaten Trump plan to raise borrowing limit through 2029

Kazakhstan and Kyrgyzstan Give Conflicting Accounts of Four-Country Blackout - The Times Of Central Asia

Always ...In gold we trust. My latest on the dollar debasement trade Gold is on a tear – and its easy to explain why

Michael Pettis on X: ""China’s banking crisis in the 2000s was resolved by transferring the costs to households through financial repression—a decision that recapitalized the banks while exacerbating the structural imbalances that continue to shape the Chinese economy today." As Chinese debt" / X

Lukas Ekwueme on X: "Jeffrey Currie: I can see $10,000 gold and $300 silver. The main driver is the debasement trade. The war has fooled us into believing that inflation is bearish for gold and silver because of the fear of higher interest rates. But Bessent's/Warsh's actions proved what I have https://t.co/Bnydw0O7Xc" / X

Barchart on X: "Wheat soars to highest price in more than 3 years 📈 📈 Goodbye sandwiches 🥪 😭 https://t.co/MuEtBK2PY3" / X