Once again–made even more apparent by its reaction (or lack thereof) to the Israel-Iran war–the Treasury market is front and center. It was already a problem as you know from my many other recent comments. podcasts, etc; and that’s all the more obvious now given its failure to rally late last week. On the flip side, of course, it became clearer still that GOLD is replacing Treasury exposure as a “safe haven,” etc. And there are other subjects: — Yet another disappointing (to President Trump, at least) Fed meeting this week. — A G-7 meeting in Canada with a shifting agenda. — The breakdown of momentum for Trump’s One Big Beautiful Motherhood, Hot dogs, Baseball, Apple Pie and the Flag bill in the Senate (and the looming market consequences as well as those for the long-term debt picture) — The mixed bag of commodity reactions to the new war — And MORE… LINKS: — Jeffrey Gundlach on the unfolding reckoning for Treasuries, et al — • Gundlach on Treasuries, Gold, Fed, AI, Pri… — My Boot Camp presentation on The New FAANGS — • Day 1 Replay: Chris Temple; Uranium Boom I… — Mohamed El-Erian on the broken Treasury market, etc. — https://www.cnbc.com/video/2025/06/13… — Senate bogging down on the One Big Beautiful Bill — https://www.rawstory.com/trump-taxes-… — Sen. Ron Johnson (R-WI) on the “immoral” OBBB that STARTS from an assumption of adding another $20+ TRILLION of debt in the next decade. — • Sen. Ron Johnson on ‘immoral’ GOP spending… — Misc. links on other markets subjects mentioned: — End Game Macro on: — Corp. insiders selling stock – https://x.com/onechancefreedm/status/… — More on shifting safe haven / reserve asset priorities — “structural disrepair” and the post-Bretton Woods system – https://x.com/onechancefreedm/status/…
