Trump posts on Truth Social: The sites that we hit in Iran were totally destroyed, and everyone knows it. Only the Fake News would say anything different in order to try and demean, as much as possible — And even they say they were “pretty well destroyed!” Working especially hard on this falsehood is Allison Cooper of Fake News CNN, Dumb Brian L. Roberts, Chairman of “Con”cast, Jonny Karl of ABC Fake News, and always, the Losers of, again, Concast’s NBC Fake News. It never ends with the sleazebags in the Media, and that’s why their Ratings are at an ALL TIME LOW — ZERO CREDIBILITY!
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JGBs have rallied off recent lows and for now, however a bearish theme remains intact following the reversal that started Apr 7. A continuation lower would signal scope for an extension towards 136.57, a Fibonacci projection. On the upside, a reversal higher would instead refocus attention on 142.95, the Apr 7 high. The first important resistance to watch is 141.48, the May 2 high. A break of this level would be viewed as an early bullish signal.
Treasury reported a record $16.5B in customs/excise taxes on May 22, reflecting the large increase in tariff rates that went into effect in April.
Treasury's latest estimate of the size of "extraordinary measures" available to use "in order to prevent the United States from defaulting on its obligations as Congress deliberate[s] on increasing the debt limit" is down to $67B on May 21 (of an available $299B), vs $82B a week earlier.