🇺🇸🇮🇷 The Strait staying shut may be the point, not the failure. China, Japan, and the Gulf hold the biggest piles of U.S. debt, and they are the ones that used to pull oil through Hormuz. A closed Strait hits their imports first. America feels it at the pump, but the damage is

🇺🇸🇮🇷 The Strait staying shut may be the point, not the failure. China, Japan, and the Gulf hold the biggest piles of U.S. debt, and they are the ones that used to pull oil through Hormuz. A closed Strait hits their imports first. America feels it at the pump, but the damage is nowhere near theirs. It pumps its own oil, and Venezuelan barrels are now in the same column. The old weakness was needing their route. That part has flipped. The 10-year is still near 5.2%, so the bond market hasn't bought the trick. A choke can bruise the lenders worse and still blow up the borrower's rate. Writer: Lucas https://t.co/tdeO5zdYSa