Are Economic Issues Increasing?  A Quick Broad Macro Update and

A Hormuz Update •Escalation & Expansion - Ships Not Passing
From The Distilled Perspective of Patrick T Bulger, Capital Management & Analytics

What's the Hormuz Update?

• For multiple days now, the number of ships passing the Strait of Hormuz are back to the 10 to 20 area. Recall, normal was 100+ (Source: Windward)
• Now Add: The Strait of al Bab-Mandeb & hostilities from Yemen.
• That makes Two Friction points on an already stressed global supply chain.

What'sThe Quick Macro Summary?

I see in the data, what appears to be:

• Escalation & expansion, Bab al-Mandab Strait, Red Sea & Yamen
• No supply chain solution, issues expanding
• Damaged infrastructure
• No conflict solution
• Collateral flights to safety
• Korea & Japan (high) volatility
• AI Compute & Cost Rug Pull
• Leverage issues

I have an outside feeling that there is more to this story.
Was the weekend bluster covering and event?

•    Final Wrap: 
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Narratives, stories & bluster are built for The Herd. 

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Best, 
PTB

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