sending ten-year US Treasury bond yields up 15 basis points in a day to 4.61%. Government bond markets tumbled around the world, sending yields surging from Japan to the US on intensifying fears that the war-driven price shock will force central banks to raise interest rates to contain the impact. It looks like the government’s ability to borrow is NOT unlimited after all.

He handled Trump attacks, a criminal investigation, and a pantomimic and will leave the office as one of the most respected Fed chairmen by both parties. Kevin Warsh takes over on Monday with orders from the president to cut interest rates when the markets are screaming for an increase. It’s no accident that bond markets had their worst day in years the day before he takes off. Warsh has spent the last decade arguing for higher rates, less spending, and a balanced budget. Good luck with that!

as part of a push by Jeff Bezos’s rocket venture to hit ambitious launch targets and tap investor appetite boosted by SpaceX’s upcoming initial public offering. The company would require outside investment if it were to significantly increase its launch schedule. It would take a lot of capital to achieve the number of rocket launches Blue Origin has targeted — more money than would be available with just one investor.

The recent surge in inflation is likely to get worse over the next several months, according to a survey Friday from the nation's top economists. Consumer price inflation is projected to hit 6% for the first quarter, according to the Survey of Professional Forecasters, a blue-ribbon group that is polled each quarter by the Federal Reserve Bank of Philadelphia.

The order is just an accumulation of many orders over recent years and had nothing to do with the China visit, which was just a PR exercise. Buy (BA) on tips.