International - Financial Times - Credit Squeeze

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

Almost 90 international groups back ‘certainty’ on carbon levy opposed by US

With this US administration, the best bet is that a business deal is to be reached with Iran

Energy disruption set to force Xi Jinping closer to Vladimir Putin and to consider drawing on reserves

Oil briefly hit $85 a barrel as Iraqi production shuts down because so few tankers risk journey through Strait of Hormuz

Costs at the pump exceed level at the end of the Biden administration

Economists say Iran conflict was ‘already casting its shadow’ as tensions had pushed up oil prices last month

Investors have been right to identify geopolitics as a rising risk factor

With energy prices rising due to conflict in Iran, the ECB will now be concerned with upside inflation risks

The answer depends on how you ask the question; plus markets do not think the Bank of Japan is more dovish

The main source of concern is Tehran’s influence over shipping in the Strait of Hormuz

Also in today’s newsletter: Blackstone’s flagship private credit fund hit by outflows and OpenAI amends US defence contract

Philip Lane says extended conflict and disruption to energy supplies could also lead to ‘sharp’ drop in Eurozone output

Edited transcript from an interview with the ECB chief economist

Qatar LNG shutdown threatens bigger supply hit than the Ukraine war