Uranium Supply Crunch Worsens Amid Kazakhstan’s Plan For Strategic Reserve Drawing further attention to the global uranium supply-demand mismatch that we've been pounding the table on since 2020 , Kazakhstan has outlined plans to accelerate exploration and create a strategic reserve for the nuclear fuel. We've repeatedly emphasized that the US is not moving fast enough if it hopes to secure fuel f...
Uranium Supply Crunch Worsens Amid Kazakhstan’s Plan For Strategic Reserve Drawing further attention to the global uranium supply-demand mismatch that we've been pounding the table on since 2020 , Kazakhstan has outlined plans to accelerate exploration and create a strategic reserve for the nuclear fuel. We've repeatedly emphasized that the US is not moving fast enough if it hopes to secure fuel for its reactor fleet… US Is Rapidly Expanding Its Nuclear Supply Chain: It's Not Nearly Fast Enough https://t.co/gly9hVAKnr — zerohedge (@zerohedge) February 19, 2026 The strategy , approved by President Kassym-Jomart Tokayev, calls for geological work on at least two new prospective deposits each year. The goal is to uncover high-potential resources while advancing development on already explored sites to refine estimates, extraction methods, and launch preparations. Kazakhstan, the world’s top uranium producer with roughly one million tonnes of confirmed resources (14 percent of the global total as of early 2025), operates 14 extraction enterprises across multiple regions. 12 are joint ventures with partners from China, Russia, France, Canada, and Japan. Kazakhstan stands alongside Australia and Canada as the main source of uranium ore imports to the US... The document emphasizes guaranteeing long-term domestic supply for future nuclear power plants, strengthening export positions, and ensuring reliable sulfuric acid deliveries for in-situ leaching. It also envisions new alternative extraction technologies and full loading of future conversion, enrichment, and fabrication facilities with domestically sourced uranium. As we highlighted in “ Why The Price Of Uranium Is About To Soar ,” a widening cumulative net deficit of 211 million pounds between 2025 and 2045 , driven by reactor builds in China, Russia, and the United States, is already pushing long-term prices higher. Spot uranium recently traded near $86 per pound, with Goldman Sachs models pointing to roughly $91 by y...
LD Small businesses are the most cautious on spending since Financial Crisis. BofA Securities shows that U.S. small business capital expenditure intentions have slumped to their lowest levels since December 2009. This past week, NFIB said its March measure of small business optimism fell to an 11-month low. NFIB Chief Economist Bill Dunkelberg said "the dramatic spike in oil prices has spooked con...
LD Small businesses are the most cautious on spending since Financial Crisis. BofA Securities shows that U.S. small business capital expenditure intentions have slumped to their lowest levels since December 2009. This past week, NFIB said its March measure of small business optimism fell to an 11-month low. NFIB Chief Economist Bill Dunkelberg said "the dramatic spike in oil prices has spooked consumers and owners alike. Small business owners are having to absorb those higher input costs and pass them along to their customers.” BofA More on United States 10-Year Bond Yield Macro Insights: The 'Spoils Of The Iran War' Hidden In The Market Gold Vs. Debt: Navigating The Historical Shift In Global Central Bank Reserves Iran War May Widen 10-Year Yield's Market Premium Vs. Fair Value Fed leadership transitions historically push yields higher - BofA Henry Paulson sounds alarm on potential Treasury market shock
mbbirdy/E+ via Getty Images Wall Street has largely brushed aside the conflict in Iran. Despite weeks of escalation, ceasefires, blockades and volatile oil prices, equities have shown little sustained concern even as supply chains face mounting pressure. That indifference reflects more than optimism. It suggests investors have absorbed a lesson reinforced over decades: when markets stumble badly e...
mbbirdy/E+ via Getty Images Wall Street has largely brushed aside the conflict in Iran. Despite weeks of escalation, ceasefires, blockades and volatile oil prices, equities have shown little sustained concern even as supply chains face mounting pressure. That indifference reflects more than optimism. It suggests investors have absorbed a lesson reinforced over decades: when markets stumble badly enough, policymakers step in, opinion writer Kyla Scanlon wrote in the New York Times on Saturday. Since the late 1970s, central bankers have shaped that belief in different ways. Paul Volcker crushed inflation through punishingly high interest rates, proving the Federal Reserve could force economic change. Alan Greenspan later did the reverse, supplying liquidity after the 1987 crash and helping create the expectation that sharp declines would be met with support. That mindset deepened through later crises. The collapse of Long-Term Capital Management, the dot-com bust, the 2008 financial crisis and the pandemic all brought extraordinary intervention. Investors increasingly came to assume that buying during turmoil would be rewarded because rescue measures would follow. But today’s safety net may be weaker. Inflation limits the Fed’s ability to slash rates, while high government debt constrains fiscal spending. Foreign confidence in U.S. Treasuries has also shown signs of strain. With traditional tools less potent, markets appear to be leaning on another hope: artificial intelligence. A handful of technology giants now dominate the S&P 500, while spending on AI infrastructure is expected to surge. Current valuations imply AI will deliver productivity gains strong enough to offset economic weakness, navigate energy shortages and overcome supply-chain disruptions. That may be an aggressive assumption. AI systems require enormous electricity consumption and depend heavily on advanced semiconductors concentrated in Taiwan and other geopolitically sensitive areas. If war or ener...
Key Points53,300 shares were sold indirectly for a transaction value of ~$2.14 million across April 14, 2026, to April 16, 2026, at a weighted average price of around $40.21 per share.
Key Points53,300 shares were sold indirectly for a transaction value of ~$2.14 million across April 14, 2026, to April 16, 2026, at a weighted average price of around $40.21 per share.
Former Defense Secretary Mark Esper joins David Gura and Christina Ruffini on Bloomberg This Weekend to discuss recent statements from former President Trump, who declared he is ready to "knock out" power plants and bridges. (Source: Bloomberg)
Former Defense Secretary Mark Esper joins David Gura and Christina Ruffini on Bloomberg This Weekend to discuss recent statements from former President Trump, who declared he is ready to "knock out" power plants and bridges. (Source: Bloomberg)
Leadership, on and off the field, was lacking at the MCG and any investigation must ascertain whether Carlton fulfilled its duty of care The weekend of football threw up great dollops of drama and pathos. One of the tallest and most talented players in the sport buckled like a stricken baby giraffe. Arguably the best footballer in Australia was blanketed by an Irishman. The heart and soul of his c...
Leadership, on and off the field, was lacking at the MCG and any investigation must ascertain whether Carlton fulfilled its duty of care The weekend of football threw up great dollops of drama and pathos. One of the tallest and most talented players in the sport buckled like a stricken baby giraffe. Arguably the best footballer in Australia was blanketed by an Irishman. The heart and soul of his club copped a knee to the head that may spell the end of his career. In Adelaide, 46,000 people stood to acknowledge a family that had lost a brother and a son. We see variations of that every weekend. We see knee injuries and head knocks. We see teams squander winning leads. We see coaches fighting for their jobs. We see the brilliance of players like Nick Daicos, Nick Watson and Jeremy Cameron. It’s all neatly packaged, all easily explained, and all what keeps drawing us back. What we almost never see, and what’s harder to manage, to diagnose and to articulate, is what took place at the MCG on Thursday night. It didn’t come through the filtered lens of the host broadcasters or the curated feeds of the club itself, but through grainy footage from high in the stands. Continue reading...
Being unremarkable is often seen as a sign of moral failure – yet finding joy in the everyday can lead to a mindful, luminous experience Making sense of it is a column about spirituality and how it can be used to navigate everyday life Lately I’ve been playing with a thought experiment: what if I was told the rest of my life would be completely ordinary? Not bad, just unremarkable. My immediate re...
Being unremarkable is often seen as a sign of moral failure – yet finding joy in the everyday can lead to a mindful, luminous experience Making sense of it is a column about spirituality and how it can be used to navigate everyday life Lately I’ve been playing with a thought experiment: what if I was told the rest of my life would be completely ordinary? Not bad, just unremarkable. My immediate response is, “Well, ordinary is better than awful” (forever the optimist), and then almost immediately (and embarrassingly), “This is not how life is meant to play out! I want something more!” Continue reading...
I was only in my teens when, late at night, my Datsun ended up dangling off a median strip. Bracing to be harassed, I walked into a truck stop to ask for help … Read more in the kindness of strangers series My first car was a Datsun, in a delightful shade of baby-poo brown. I’d only been on my Ps a week when I almost drove it to total disaster. It was 11pm one night in south-west Sydney when I app...
I was only in my teens when, late at night, my Datsun ended up dangling off a median strip. Bracing to be harassed, I walked into a truck stop to ask for help … Read more in the kindness of strangers series My first car was a Datsun, in a delightful shade of baby-poo brown. I’d only been on my Ps a week when I almost drove it to total disaster. It was 11pm one night in south-west Sydney when I approached the huge intersection that links the Hume Highway with Henry Lawson Drive. I was trying to turn right on to the highway and was the first car at the lights. With the baseless confidence of a 17-year-old, I turned … into the wrong lane. Continue reading...
Three times over the past decade, the US Supreme Court has cut the Securities and Exchange Commission ’s ability to extract millions of dollars from alleged wrongdoers. Critics of the commission say it’s not enough. In arguments Monday they are asking the justices to put new limits on “disgorgement,” one of the SEC’s most potent enforcement tools, designed to recoup illicit profits and return them...
Three times over the past decade, the US Supreme Court has cut the Securities and Exchange Commission ’s ability to extract millions of dollars from alleged wrongdoers. Critics of the commission say it’s not enough. In arguments Monday they are asking the justices to put new limits on “disgorgement,” one of the SEC’s most potent enforcement tools, designed to recoup illicit profits and return them to victims. The dispute will shape a panoply of SEC cases in which victims aren’t easy to pinpoint, from low-profile record-keeping violations to major insider trading allegations. The SEC used disgorgement to secure orders for more than $6 billion in fiscal 2024 and almost $11 billion last year. The clash could also affect the SEC’s lawsuit against Elon Musk for allegedly flouting a deadline to disclose his growing stake in Twitter and in the process saving himself more than $150 million. In a suit filed days before Trump took office, the SEC is seeking disgorgement as well as civil penalties. Musk and the SEC told a judge earlier this month they are headed toward a trial. Supporters say disgorgement is crucial to the SEC’s investor-protection efforts. It ensures that fraudsters don’t see securities law enforcement as just the cost of doing business, said Corey Frayer, director of investor protection at the Consumer Federation of America and a former SEC adviser. “I don’t think the detriment to the SEC’s enforcement regime could be understated here,” Frayer said. “Without disgorgement, you have enormous incentive to cheat the markets.” Enriched Treasury But critics say the SEC is using disgorgement to enrich the Treasury, rather than compensate victims. The commission’s fiscal 2025 financial report indicates it holds more than $5 billion in collected disgorgement and penalties that haven’t been distributed to victims. And without clear limits, the SEC could weaponize its authority and impose heavier penalties on political opponents than on allies, says Thomas Berry, direc...
Daria Nipot/iStock Editorial via Getty Images This monthly column provides a top-down analysis of the consumer discretionary sector, based on value, quality and momentum metrics. It may also help analyze sector ETFs such as Vanguard Consumer Discretionary ETF ( VCR ) and Consumer Discretionary Select Sector SPDR ETF ( XLY ), whose largest holdings are used to calculate these metrics. Shortcut The ...
Daria Nipot/iStock Editorial via Getty Images This monthly column provides a top-down analysis of the consumer discretionary sector, based on value, quality and momentum metrics. It may also help analyze sector ETFs such as Vanguard Consumer Discretionary ETF ( VCR ) and Consumer Discretionary Select Sector SPDR ETF ( XLY ), whose largest holdings are used to calculate these metrics. Shortcut The next two paragraphs in italic describe the dashboard methodology. They are necessary for new readers to understand the metrics. If you are used to this series or if you are short of time, you can skip them and go to the charts. Base Metrics I calculate the median value of five fundamental ratios for each subsector : Earnings Yield ("EY"), Sales Yield ("SY"), Free Cash Flow Yield ("FY"), Return on Equity ("ROE"), Gross Margin ("GM"). The reference universe includes large companies in the U.S. stock market. The five base metrics are calculated on trailing 12 months. For all of them, higher is better. EY, SY and FY are medians of the inverse of Price/Earnings, Price/Sales and Price/Free Cash Flow. They are better for statistical studies than price-to-something ratios, which are unusable or non available when the "something" is close to zero or negative (for example, companies with negative earnings). I also look at two momentum metrics for each group: the median monthly return (RetM) and the median annual return (RetY). I prefer medians to averages because a median splits a set in a good half and a bad half. A capital-weighted average is skewed by extreme values and the largest companies. My metrics are designed for stock-picking rather than index investing. Value and Quality Scores I calculate historical baselines for all metrics. They are noted respectively EYh, SYh, FYh, ROEh, GMh, and they are calculated as the averages on a look-back period of 11 years. For example, the value of EYh for retailing in the table below is the 11-year average of the median Earnings Yield in re...
Bloomberg Senior Writer for Ideas & Culture Felix Salmon discusses with David Gura and Christina Ruffini on Bloomberg This Weekend the growing attention on private credit, a trillion-dollar asset class involving direct loans from investors to private equity-backed companies. (Source: Bloomberg)
Bloomberg Senior Writer for Ideas & Culture Felix Salmon discusses with David Gura and Christina Ruffini on Bloomberg This Weekend the growing attention on private credit, a trillion-dollar asset class involving direct loans from investors to private equity-backed companies. (Source: Bloomberg)
As clouds of geopolitical uncertainty loom over global markets, investors are turning to the mining sector. Precious metals prices have been on the rise in recent years, driven by escalating geopolitical tensions and a noticeable shift as more central banks across the globe secure safe-haven assets like gold. Equinox Gold (NYSEMKT: EQX) and Agnico Eagle Mines (NYSE: AEM) are poised to benefit from...
As clouds of geopolitical uncertainty loom over global markets, investors are turning to the mining sector. Precious metals prices have been on the rise in recent years, driven by escalating geopolitical tensions and a noticeable shift as more central banks across the globe secure safe-haven assets like gold. Equinox Gold (NYSEMKT: EQX) and Agnico Eagle Mines (NYSE: AEM) are poised to benefit from rising precious metals prices. However, increasing fuel prices amid the conflict in Iran have weighed on the miners' stocks, which are now down 20% and 15%, respectively, from their recent highs. Amid the uncertain backdrop, one stock stands out as a more compelling buy today. Here's why. Continue reading
About 1,000 animal welfare activists who tried to gain entry on Saturday to a beagle breeding and research facility in Wisconsin were turned back by police who fired rubber bullets and pepper spray into the crowd and arrested the group’s leader. It was the second attempt in as many months by protesters to take beagles from the Ridglan Farms facility in Blue Mounds, a small town about 25 miles (abo...
About 1,000 animal welfare activists who tried to gain entry on Saturday to a beagle breeding and research facility in Wisconsin were turned back by police who fired rubber bullets and pepper spray into the crowd and arrested the group’s leader. It was the second attempt in as many months by protesters to take beagles from the Ridglan Farms facility in Blue Mounds, a small town about 25 miles (about 40 kilometres) southwest of Wisconsin’s capital, Madison. Dane County Sheriff Kalvin Barrett said...