Peace deal retreat
June 8, 2026
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–KOSPI index has nearly tripled since September from just over 3000 to just under 9000, which occurred last week. This morning it’s down 15% from last week’s high settle (down 8.3% today). Currently 7484; May’s low print is still well below, 7054.
–DXY has added slightly to Friday’s gains, now 100.15. For a full year, the area from 100.25 to 100.60 has capped DXY. A close above would open the door for 105.
–Israel and Iran escalated attacks, causing CLN6 to pop nearly $4/bbl this morning to 94.50. Equity futures seeing a modest bounce as the admin considers taking ownership shares in AI companies. META reportedly considering an equity raise (out Friday-FT). Bonds slightly lower going into auctions this week. CPI is Wednesday, expected 4.2% yoy from 3.8%.
Below is a completely different topic…
–Chicago Bears announced a move to Hammond, Indiana. The Chicago’s Teachers Union was reportedly a major influence in the decision. (NBC) The Chicago Teachers Union (CTU) played a major role in stalling this bill [Megaprojects bill] by aggressively lobbying against the stadium’s property tax breaks, which they argued would divert vital funding from public schools.
here’s an interview with Chgo Teachers Union head Stacy Davis Gates, where she repeatedly says Chicago schools need more money from Chicago property taxes:
A couple of quotes:
“If those property tax dollars go to wealthy real estate interests, they won’t be going to the schools”
At 4:30, “I have no idea how what I said to you connects to the Bears leaving the state of Illinois.”
Here’s how Chicago’s schools are doing:
In Chicago Public Schools (CPS), statewide testing reveals that about 42% of students are proficient in reading and 27% are proficient in math. [Ms Gates appears to be in the 73% category].
And here’s how the political situation in Chicago/Illinois is driving “wealthy real estate interests” and related tax revenue out of the state:
From @FCNightingale citing Crain’s
Former Citadel HQ, 131 S. Dearborn St. Chicago, Illinois, trades at 76% discount from 2006 sale price. Sold for $137 million. Purchased for $560 million in 2006. German bank BayernLB led a $448 million refinancing of the property in 2020.
