Politics Pentagon Running Out of Cash Despite Nearly $1 Trillion Budget The Pentagon is running low on cash despite a near-trillion-dollar budget, with officials asking Congress for $67B more as Iran war costs climb past $130B. Training canceled, jets parked.
Tech New York bans smart glasses in all state courthouses starting July 20 New York becomes the first US state to ban smart glasses in all 1,240 courthouses starting July 20, forcing visitors to surrender Meta Ray-Bans and other camera-equipped eyewear at the door.
Politics Over 70 EU lawmakers demand probe into FIFA chief Infantino over Trump call More than 70 EU lawmakers are demanding an investigation into FIFA President Gianni Infantino after FIFA lifted Folarin Balogun’s red card suspension following a call with President Trump.
Markets Cyclospora Outbreak Tops 1,000 Cases in the US, Dozens Hospitalized A cyclospora outbreak has topped 1,000 US cases with dozens hospitalized. Michigan is the epicenter, and no common food source has been identified yet.
Banks Goldman Sachs Bans Employees From Most Prediction Market Bets Goldman Sachs has banned employees from trading on prediction markets tied to companies, elections, financial markets, macro data, and geopolitics. Only sports and entertainment bets remain allowed.
Markets France National Team Flew ICE Deportation Charter Planes at World Cup France’s national team has been flying between World Cup venues on GlobalX charter jets, the same carrier that operates the majority of ICE deportation flights in the US.
Politics Trump: ‘I would be the greatest communist in history, right up there with Lenin’ Trump told an Epoch Times reporter he would be the greatest communist in history, right up there with Lenin, while calling communism a disaster. Here is the trader angle.
Geopolitics Trump says Iran may kill him: ‘I’m their number one target’ Trump says Iran is targeting him for assassination, calling himself their ‘number one target’ as the US-Iran ceasefire collapses and strikes resume around the Strait of Hormuz.
Geopolitics Trump: We can knock down every bridge, power plant in Iran Trump says the US could knock down every bridge and every power plant in Iran in a day if Tehran walks from a deal. Crude, defense names, and shipping back in play.
Markets Ken Griffin Bought All 138 Condos in a Miami Tower to Tear It Down Ken Griffin quietly spent about $125M buying every unit of Miami's 138-condo Solaris tower through anonymous LLCs, then plans to tear it down for a $2.5B Citadel headquarters campus in Brickell.
Geopolitics Trump: I would hate to strike Iran desalination plants, but may have to Trump said the U.S. could strike Iran’s desalination plants if the Hormuz standoff drags on, but added he would hate to do it. The threat widens the target list and raises Gulf retaliation risk.
AI AI Costs More Than the Workers It Replaced, Forbes Reports Forbes says AI compute now costs companies more than the workers it replaced. Uber burned its 2026 AI budget in four months, and Nvidia execs admit compute exceeds payroll — even as Big Tech capex hits $740B.
Macro Mark Cuban Rips Trickle-Down Economics: ‘It Is A Joke’ Mark Cuban says trickle-down economics is a joke and pitches ‘trickle up’ instead, backing a $20 federal minimum wage and broader asset ownership for workers.
Tech Meta warns of up to $1.4T in penalties in teen mental health case Meta told a federal court that four states are seeking up to $1.4 trillion in penalties in the August teen mental health trial, a sum roughly equal to its market cap. The company called the figure outlandish.
Geopolitics Iran Intensifies Attacks on Ships in the Strait of Hormuz Iran hit three commercial vessels in the Strait of Hormuz in 24 hours, pushing Brent up 2.5% and lifting Treasury yields as the JMIC raised the threat level to severe.
Markets Earnings, Not Just Valuations, Are Flashing Bubble Warnings: FT Strategists cited by the FT warn the real bubble risk may be in earnings expectations, not just valuations, with 2026 S&P 500 EPS growth pegged near 25% and CAPE above 40.
Geopolitics Trump revives Greenland push, threatens US troop pullout from Europe Trump reopened his Greenland fight at the NATO summit in Ankara, saying the island should be US-controlled and floating a full US troop pullout from Europe. Defense, rare earths, and European risk assets are back on watch.
Macro Central Banks Plan to Cut Dollar Reserves for First Time, OMFIF Says OMFIF's 2026 Global Public Investor survey shows, for the first time, more central banks plan to reduce dollar reserves than grow them over the next decade, with gold moving to the center of reserve strategy.
Macro Europe's Average Wealth Sits at $337,083, Half the U.S. $696,277: UBS UBS's latest Global Wealth Report pegs Europe's average adult wealth at $337,083, less than half the U.S. average of $696,277. Switzerland still tops the global ranking at $910,382.
Macro Central Banks Plan First Dollar Cuts in a Decade, Pivot to Gold and Euro An OMFIF survey shows more central banks plan to cut U.S. dollar holdings than add to them over the next decade for the first time, with gold and the euro picking up the flow.
Markets BofA to Investors: Time to Take Profits as Bear Market Signals Flash Bank of America’s Savita Subramanian told clients to take profits, flagging seven of ten bear-market signposts and a year-end S&P 500 target of 7,100 below current levels.
Markets Michael Burry Fires Back at Trump: ‘Shoots From the Hip’ for Cronies Michael Burry hit back at President Trump after Trump mocked short sellers, saying Trump makes money for himself and his cronies better than anyone. Here is the trade angle.
Politics Howard Lutnick's Role in Overturning Balogun's FIFA Red Card Commerce Secretary Howard Lutnick played a key role in overturning Folarin Balogun's FIFA red card, allowing him to play against Belgium.
Macro Trump’s Signature Hits New U.S. Paper Currency for America’s 250th The Treasury and Trump administration unveiled new U.S. paper currency featuring President Trump’s signature for America’s 250th birthday, a first for a sitting president.
AI Bain: AI Investments Are a ‘Circular Bet’ as ROI Disappoints Bain says 40% of companies tracking AI spend saw cost savings under 10%, and 44% are funding the next wave from prior returns that never fully materialized, calling it a circular bet with a structural leak.
