JUST IN: Meta unveils Muse Charm, a Tamagotchi-style AI gadget designed to fit on a keychain, with Zuck calling it a “joyful little device.”

The Fed is printing money to buy US Treasury bills... more than during Covid. - Covid: ~$320B - Last 9 months: ~$355B Everyone is talking about the Fed hike... no one is talking about Warsh printing money Covid-style to buy UST bills. At the same time, Bessent is issuing more UST bills to buy back US long-term debt. In other words, the Treasury buyback is nothing else than QE in disguise. We don't own enough hard assets for what's coming.

TWO-YEAR U.S. TREASURY YIELDS LAST UP 0.85 BASIS POINTS AT 4.904%

FED MAY BE LOSING CONTROL OF LONG-TERM YIELDS CIFC says long-term Treasury yields are increasingly driven by forces outside the Fed’s control, including heavy government borrowing, $100+ oil, AI infrastructure spending and a global bond selloff. Last week’s rate hike reshaped the yield curve but failed to lower overall yields. Weak demand at the latest 5-year Treasury auction reinforces the risk that yields remain biased higher despite further Fed tightening.

U.S. TREASURY YIELD ON 10-YEAR TREASURY NOTE HITS 5.081%, HIGHEST SINCE JULY 17, 2007; LAST UP 10.57 BASIS POINTS AT 5.073%