2026-04-29
Warsh advances, yields rise, China spies on Cuba. Politics noise, markets shrug.
Good afternoon. A busy afternoon in politics and markets. Kevin Warsh clears the first hurdle toward Fed chair. Treasury yields hit their highest mark since March as oil prices climb. And somewhere in Washington, Chinese hackers were busy.
Lunch Brief
The Trump administration argues its effort to end humanitarian protections for Haitians was based on foreign policy and national security, not race. The Supreme Court may soon hear the distinction.
Kevin Warsh's nomination advanced Wednesday, setting up a full Senate vote. He has signaled a willingness to factor the Fed's balance sheet into rate-setting policy.
Chinese hackers breached the Cuban embassy in Washington to monitor dozens of diplomats' communications, according to Gambit Security. Timing was not subtle.
Some Temporary Protected Status holders have stayed for years. Others were sent home quietly when their countries were deemed safe. The bar for 'safe' is politically flexible.
France hosts an annual invention competition with a long, slightly eccentric tradition. Many everyday items were first introduced to the public there.
US Treasury yields reached their highest level since the start of the month as oil prices climbed, eroding expectations for Federal Reserve rate cuts.
The Fed chair designate has indicated willingness to factor the central bank's balance sheet into monetary policy decisions, a subtly different approach from recent consensus.
"Almost respectable. Use it cautiously."
"Below the radar. Statistically rare; enjoy it."
Today looked louder than it actually was.
Back at 6:00 PM ET with the night owl brief.