International - Financial Times - Credit Squeeze

The chances of an economic disaster are higher than they think.

Also in today’s newsletter, how Trump’s tariffs are unleashing a surge of cases in the US Court of International Trade

Conflict in Iran raises risks of a stagflationary shock that governing council members could not have foreseen

Forget the singularity and robot takeovers; what matters is who captures the value added

Also in today’s newsletter: China sets 2026 growth target and Bondi subpoenaed to appear before Congressional committee

US group moves production away from H200s to latest Vera Rubin products

Despite the risks to inflation, forward rates remain optimistically priced

A growth plan of renewable energy and diversified trade is far better than guzzling fossil fuels and aligning with the US

Prices have jumped and exports been hit as war puts pressure on one of the world’s largest producers

Spain’s premier tells US president what no other European leader dares to say but some say he has miscalculated

Figure revealed at annual meeting of parliament as Beijing prepares to release new five-year plan

Further increases from Iran blowback add to pressure for Fed to stay on hold

European Commission offers access to bloc’s subsidies for manufacturing in partner countries with trade agreements

Deepak Nath confident medical device maker can weather drop in revenues from China and war in Middle East

US Treasury secretary says duty is set to increase from 10% rate introduced after last month’s Supreme Court defeat

Barclays pushes the autotext envelope

Oh no, not again

Also in today’s newsletter: Democratic Party rising star James Talarico wins primary and Howard Lutnick agrees to appear before committee over Epstein links

Plus very very long-term interest rates

UAE and Iran have urged citizens to avoid stockpiling