On UK’s Vigilantes, Persian Gulf Cables, And Fabulous Earnings

Britain’s new prime minister appears to be on a collision course with the Bond Vigilantes. They’re on high alert given his promises of an economic and political overhaul that’s bound to mean debt-bloating fiscal spending. ... Also: The cables that run under the Strait of Hormuz are essential components of the global digital nervous system. William discusses Iran’s threats to weaponize them, which leave Big Tech “with some serious recalibrating to do.” … Also: Joe says the early Q2 reporters, especially the tech companies, have dramatically boosted both earnings growth data for S&P 500 companies in aggregate and analysts’ Q3 and Q4 earnings estimates. He expects those forecasts to continue to rise.