Oil hits $100 a barrel for first time since July after US and Houthi strikes [BBC]In back and forth attacks, the US hit five Iranian tankers in reprisal strikes after Tehran targeted one of its warships…. Yemen's Iran-backed Houthi movement also attacked oil facilities in Saudi Arabia on Tuesday and have been targeting tankers in the Red Sea….Crude did dip back down to $99.90 a barrel, but any fresh flare-ups in the Middle East could see it pushed higher again.Trump Media Launches MAGA-Friendly Investment Funds [NYT]Steve Neamtz, chief executive of Yorkville America… said the Truth Social funds were focused on companies in sectors critical to the American economy, like energy and security, while avoiding stocks of companies that are seen as promoting social causes at the expense of profits. “We don’t want activism,” he said….The five newly launched funds have names like Truth Social American Icons, Truth Social American Security & Defense and Truth Social American Energy Security. Companies that the funds own shares in include Home Depot, Uber, Lockheed Martin, CrowdStrike, Exxon Mobil, Walmart and Chevron./Yorkville recently acquired two older E.T.F.s with a strong conservative bent and rebranded them as Truth Social funds.Blackstone’s Head of Real Estate Is Leaving the Firm [WSJ]Nadeem Meghji is stepping down from his position, Blackstone confirmed, less than a year after taking sole control of Blackstone’s real-estate business. Previously, Meghji was co-head of global real estate with Kathleen McCarthy, who left in 2025 after 15 years at Blackstone.About a dozen senior managing directors have departed Blackstone’s real-estate group over the past three years or so.Block Applies to Establish Builders Bank & Trust [WSJ]It said the bank would provide custody and fiduciary services, including for stablecoins and bitcoin, but wouldn’t accept deposits or make loans…. The move from Block comes as many financial technology and payment companies are eyeing entrances into banking.'I am the house now': Bessent warns currency traders not to bet against yen [FT via Yahoo!]"When we intervene with the Japanese yen, I have pretty good insight into what the Bank of Japan is going to do, what Japanese policymakers are going to do," Bessent said in an event at Southern Methodist University in Texas on Tuesday."I have asymmetric information. I am the house now," Bessent said. "You can bet against me if you want."Senate Republicans say crypto bill likely to fail [Semafor]"Does not look good right now," said Sen. Mike Rounds, R-S.D.Sen. Thom Tillis, R-N.C., added that "if there's no interest in the White House in trying to bridge the gap on the ethics language, it is going to fail."
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