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22.03.26 - 20:57
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Iran Issues 10 Million Rial Banknote Amid Soaring Inflation (ZeroHedge)
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Iran Issues 10 Million Rial Banknote Amid Soaring Inflation
As the Iran war rages, Tehran has rolled out a new 10 million rial banknote, its highest-ever denomination, as authorities seek to "manage" soaring inflation and meet demand for hard cash... but mostly to "manage" soaring inflation, similar to how Venezuela would add a new 0 to its currency every week in the late days of the Maduro ergime before everyone simply gave up.
Banks, which have been targeted on at least one occasion by Western strikes, began distributing the new note this week, which is worth about $7, as Iranians waited in long lines at cashpoints to withdraw currency over fears electronic systems could fail. Many quickly ran out.
The new bank note is worth about $7 US dollars.
The new pink banknote features a vignette of the 9th-century Jameh Mosque of Yazd, while the back displays an image of the 2,500-year-old Bam Citadel. It is now the highest denomination in circulation, overtaking the 5mn-rial no...
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20.03.26 - 19:12
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Inflation Hit is Coming: Kathy Jones (Bloomberg)
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Kathy Jones, chief fixed income strategist at the Schwab Center for Financial Research, joins Scarlet Fu on "Bloomberg Real Yield." US Treasuries sank and bond traders increased their bets on a Federal Reserve interest-rate hike by October to 50% as concern mounts that a protracted war in the Middle East could stoke global inflation. (Source: Bloomberg)...
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20.03.26 - 16:42
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Bond Markets Are Beginning To Panic Over Inflation (ZeroHedge)
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Bond Markets Are Beginning To Panic Over Inflation
By Benjamin Picton, Senior Market Strategist at Rabobank
Look To America
US equity indices closed lower yesterday but were comparative outperformers against European and Asian counterparts, which were roundly brutalized. The relative performance of equity markets reflects what is happening in oil markets, where the law of one price is being strained by a complete dearth of oil in Asia, a shortage of oil in Europe, and relative abundance in North America. The spread between West Texas crude and the more international Brent crude is now at its widest level since the Covid demand shock of 2020.
The oil market has fragmented: Oil is now trading for $150/bbl in Asia (except the occasional sanctioned Iranian tanker) where demand destruction has started. China and India most pressured.
Meanwhile it is still $100 in the US https://t.co/QweAyzEN0a pic.twitter.com/YyvgAMdMwl
— zerohedge (@zerohedge) March 17, 2026
At the risk of stating the obvious, ...
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