Indianapolis shooting: 3 injured after gunfire erupts near Monument Circle
Trump's old tweet resurfaces after US attacks Iran's nuclear facilities, criticizing Obama for potential war. Now, Trump himself escalates conflict by joining Israel's operation, using precision-guided munitions to strike three Iranian nuclear sites.
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Mint
18 minutes ago
- Mint
The bond market's biggest risk isn't the deficit, economist says. Here's what is.
Bond investors might be worried about the wrong thing. President Donald Trump's massive tax and spending bill has been the latest big headache for bond investors, but TS Lombard economist Dario Perkins says there is a much bigger threat to the market: Chaotic U.S. policymaking. As Trump's spending bill continues to move forward, some economists warn that the proposal's tax cuts might force the government to borrow more money, widening the fiscal deficit and ballooning the country's $37 trillion pile of debt. A greater supply of government debt, in turn, would lower existing bond prices and push up yields. (Yields move in opposite direction of bond prices.) Analysts have even made comparisons to the cautionary tale of British Prime Minister Liz Truss—her mini-budget's proposed unfunded tax cuts in 2022 triggered a sell-off in bonds and shortened her tenure to mere 49 days. But such jitters about fiscal crises are 'unnecessarily alarmist," according to Perkins. To him, the biggest risk is roller-coaster policymaking. 'The big risk is not fiscal deficits but U.S. policy chaos against the backdrop of a world that is already more susceptible to negative supply shocks," he writes. The rapid fluctuations in federal policy have arguably been palpable since the Trump administration placed aggressive tariffs on global trade partners, only to walk back on them days later. The U.S. is now attempting to put together trade agreements with several dozens of countries in a matter of 90 days—they typically take years—all while conducting broad-based deportations. Against this backdrop, there's now a question of U.S. involvement in the Israel-Iran conflict. A broader war would threaten to push up inflation and lead to supply-chain disruptions if Iran potentially blocks the Strait of Hormuz—a critical global shipping channel. Higher inflation is the nemesis of the bond market because it chips away at the value of returns. Unpredictable U.S. policies raise a deeper fear: They could undermine the role of U.S. Treasuries as a global risk-free asset, Perkins writes. If bonds become less valuable as a portfolio hedge, they will be less attractive to investors—regardless of the size of the U.S. budget deficit or the balance-sheet policies of central banks, he added. Taken together, these concerns suggest Trump's budget proposal may be lower in the pecking order of threats to the bond world. For now, the bond market seems to be just waiting it out as a quiet spectator. Yields have basically gone nowhere for long-dated Treasuries lately. The 1o-year yield has ranged between 4.518% to 4.359% since May 23, while the 30-year yield has closed between 5.041% and 4.848% over the same period. Write to Karishma Vanjani at
News18
18 minutes ago
- News18
'Enemy Made A Mistake': Iran's Ayatollah Khamenei Says Israel Being 'Punished' After US Strikes
Last Updated: Ali Khamenei's message came after the US launched a massive attack on Iran's nuclear sites, marking a dramatic escalation in the conflict. He is currently believed to be in hiding. Iran's Supreme Leader Ayatollah Ali Khamenei said the 'Zionist regime" in Israel is being 'punished" after the two arch-rivals traded heavy aerial fire, hours after the US launched airstrikes on Tehran's nuclear facilities. 'The Zionist enemy has made a big mistake, committed a big crime; it must be punished and it is being punished; it is being punished right now," said Khamenei in a cryptic message on X. His remarks came after the Israeli Army carried out strikes on Iranian military targets, including missile launch and storage sites, on Sunday. The US military also carried out massive airstrikes on three Iranian nuclear sites at Fordow, Isfahan and Natanz. Israel also struck several parts of the country on Sunday, resulting in the deaths of three people after an airstrike hit an ambulance in central. Iran also launched a fresh salvo of ballistic missiles at Israel, injuring more than 80 people. US President Donald Trump and Defence Secretary Pete Hegseth said the strikes 'obliterated" Tehran's nuclear ambitions as part of 'Operation Midnight Hammer" and called on Iran to make peace or face more devastating strikes. After the US strikes, Khamenei issued a stark warning to Washington, saying, 'Americans should expect greater damage and blows than ever before." Where Is Khamenei Now? New York Times. Khamenei has picked an array of replacements down his chain of military command in case more of his valued lieutenants are killed. He has also named three senior clerics as candidates to succeed him should he be killed himself, showing the precarious situation of his three-decade rule. The Israeli strikes are the biggest military assault on Iran since its war with Iraq in the 1980s, and have caused intense damage – eliminating top military leaders and nuclear scientists – and dealing significant damage to Iran's nuclear sites. Khamenei, 86, is aware that either Israel or the United States could try to assassinate him, as per the officials. He has made the unusual decision to instruct his nation's Assembly of Experts, the clerical body responsible for appointing the supreme leader, to choose his successor swiftly from the three names he has provided. First Published: June 23, 2025, 07:05 IST
News18
18 minutes ago
- News18
Iran May Have Outmanoeuvred US, Moved 400kg Uranium From Nuclear Site Before Airstrikes
Last Updated: According to an NYT report, senior US officials—including Vice-President JD Vance—have acknowledged that they do not currently know the location of Iran's uranium stockpile In a rapidly escalating nuclear standoff between Iran and Israel, new intelligence reports suggest that Iran may have successfully relocated around 400 kilograms of highly enriched uranium before a US military strike hit three of its key nuclear sites. The revelation casts doubt on US President Donald Trump 's assertion that the American-led strikes had 'completely obliterated" Iran's nuclear capabilities. On June 20, US forces, in coordination with Israeli intelligence, launched precision strikes on the Fordow, Natanz, and Isfahan nuclear facilities which have long been at the center of global concern over Iran's nuclear ambitions. President Trump, who returned to office earlier this year, hailed the operation as a major success, telling supporters that 'Iran's nuclear threat has been neutralised". However, Iranian officials pushed back immediately, claiming the damage was minimal. According to Iranian state media and foreign ministry statements, the country's 'core nuclear infrastructure remains intact," and its ability to enrich uranium was not substantially affected. Two Israeli officials seemed to confirm Iran's stand as they told the New York Times that Iran had moved a significant amount of uranium— 400 kilograms, or roughly 880 pounds enriched to 60 per cent purity—and other equipment from the Fordow plant before the US strikes. This is just below the 90 per cent that is usually used in nuclear weapons. According to the report by NYT, senior US officials—including Vice-President JD Vance—have acknowledged that they do not currently know the location of Iran's uranium stockpile. Vance stated that the United States intends to address the issue directly. 'That's one of the things we're going to discuss with the Iranians," he told ABC News, emphasising the need for further diplomatic engagement. Complicating the issue further, at a Sunday press briefing, Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine stopped short of endorsing President Trump's sweeping claim that the nuclear sites were entirely destroyed. Instead, they described initial assessments as indicating 'severe damage and destruction" at the three targeted facilities, which were struck by Air Force B-2 bombers and Navy-launched Tomahawk missiles. The International Atomic Energy Agency (IAEA) has expressed concern over access to the affected sites and has called for transparency from Tehran. Iran, meanwhile, has limited cooperation with international inspectors and accused Western powers of 'nuclear hypocrisy." Iran's enrichment activities, while not openly violating the Non-Proliferation Treaty (NPT), have surged in recent years following the collapse of the 2015 nuclear deal. The stockpile of 60% enriched uranium has now surpassed 140 kilograms, according to the IAEA's last public report—more than enough for multiple bombs, if further refined.
