One question for the shipping experts out there. Historically, a lot of the tankers globally have carried flags of convenience (Liberia etc) Given the escort debate, who will escort those? Or, will escorts only be provided to ships with traditional national flags (Japan, S. Korea, India, Denmark, Greece)? Or will ships now re-flag to get access to escorts?

When the Fed cutting cycle started in 2024, 20Y rates quickly moved to 4%. And after 175bp of cuts, the 30Y rates is back up to 5%. The latest wiggle is obviously the Iran effect. But the divergence is arguably 2 years...
JPY reversing weaker HUF gaining (on negative polls for Orban) CNH continues to rally consistently