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The most recent Iran 🇮🇷 TACO 🌮 pause is just that… just another pause…They’ve said as much. The SOH isn’t opening & the war isn’t ending, & everyone now finally sees it. (B/c the risk of losing the exorbitant privilege of the US $ 💵 simply isn’t an option.) that’s causing more financial stress. What most people don’t realize though is that there’s a new TACO 🌮 in town… They’re starting to fire bigger & bigger guns 🔫… 1st the ORCL Pentagon deal, (which failed miserably to arrest the slide) & now this. Bessent is working OT to get this CDS moving back in the right direction…They know they have to try & backstop Private Credit. That’s the heart ♥️ of the coming crises & they know it.

jam_croissant ↗