Trump is desperate for a deal

As Trump vacillates between returning to war and confronting the military reality, the global economy continues to implode

Here are some of the stories we’re following:

The Indian rupee just hit an all time low, due to high energy, fertilizer, and other prices placing pressure on its current account, while the war in the Persian Gulf reduces remittances.

The Turkish lira has hit an all time low again, with energy prices playing a major role, as the government sells some of its gold reserves to defend the currency.

Britain’s ten year GILT (bond) yields are around 5.1%, and 30-year yields are above 5.8%. These are higher than the rates which ended Liz Truss’ brief tenure as Prime Minister. Rates are hovering between 1997 and 2008 highs.

Britain also relaxed delayed implementing new energy sanctions on Russia, permitting the continued purchase of oil derivatives processed in third countries.

US bond-yields are over 4.6%. The USA is due to roll-over USD8-9 trillion in debt within the coming 12 months.

The same story is unfolding in Japan, Germany, France, and elsewhere.