By Paul Sankey
Published on July 19, 2026 at 2:39 PM
As a battle-scarred veteran of being a US Travel Soccer Dad, it is no new experience for me to travel for days to a big match and come back defeated and furious with the coach. Briefly to get it out of the way, a couple of things from the point of view of being present in Atlanta for the worst England capitulation since the fall of Singapore (February 1942, some 80,000 British Empire forces under …
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By Paul Sankey
Published on June 3, 2026 at 6:42 PM
Yet again, we find the Hormuz situation has actually deteriorated. CNBC today interviewed Israeli PM Netanyahu. He remains hard line, talking Iranian regime collapse. Bond vigilantes are marauding today, 30 year going through 5% again. Equity market doesn’t like it. And when they write the history of the AI bubble 2022-2027, the issuance by Google of $80bn of stock in early June 2026 will be one red line that was crossed. We have said Argentina …
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By Paul Sankey
Published on May 31, 2026 at 7:05 PM
Amazing to watch May 2026 pass so fast, and Hormuz still all-but shut. Everybody points to June as the month in which things turn ugly in terms of tank bottoms, and price going exponentially higher seeking to destroy demand. But bottom line, prices are lower, and everyone is still merrily flying around. In this note we re-visit our JetFuel thesis – as we witness record flights, what’s the problem? We conclude that the key answer …
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