1. War in Middle East-Volatility Index Down on 5 Day Chart.
2. Oil Move Not Large by Historical Standards.
Bespoke It’s been a large move, but today’s gain would only rank as the 80th largest one-day gain in crude oil since 1984. Given the enormity of the military action, an even larger move in crude oil wouldn’t have been a surprise.
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3. A Couple Numbers from Prof G Monday Newsletter.
-Tesla’s robotaxis have been involved in crashes at 8x the rate of human drivers. Waymo, by contrast, estimates that its vehicles get into injury-causing crashes 80% less than human drivers
Prof G Markets
4. Bank Selloff–U.S. Banks Lent $300B to Private Equity Credit Providers.
Dave Lutz Jones Trading
A recent Moody’s report showed U.S. banks had lent nearly $300 billion to private credit providers as of June 2025. Banks loaned a further $285 billion to private equity funds and had $340 billion in unutilized bank lending commitments available
5. Meta Balance Sheet Debt Up by $60B
The Wall Street Journal
6. Record Buying to Record Selling in Small Cap
7. Mecahnical Contracting vs AI…..FIX Comfort Systems USA HVAC Company (FIX) 5 year Chart +2134% vs. NVDA +1184%
Google – Morningstar
Ycharts
8. Demographics is Destiny…We need Population Growth in U.S.
The Wall Street Journal
9. 2025 Russia Gained Less than 1% of Ukraine Territory….Russian Killed or Wounded 400-450k
Perplexity
10. U.S. Health and Human Services (HHS) has a Budget that Would Rank in Top 10 as a Country in World.
Perplexity