🇩🇿❌🇦🇪 Algeria has cut diplomatic ties with the UAE.

The Foreign Ministry said it came "after exhausting all means" to preserve relations, without naming a specific trigger.

The backdrop: years of escalating tensions over UAE contacts with Algerian separatist groups (particularly the Kabylie movement), UAE military expansion in Libya and the Sahel, and Abu Dhabi's backing of Morocco on Western Sahara.

Algeria had already been downgrading relations step by step — reducing its diplomatic presence in January and canceling the bilateral air-services agreement in February.

No UAE response yet.

🔗 Clash Report

🇾🇪❌🇾🇪🇸🇦 — Houthi (Ansarallah) military commanders visited the newly captured area along the western coastline and vowed to liberate all of Yemen from the Saudi-backed PLC.

🇺🇸🪖⚡️ — The U.S. urged NATO allies to help “systematically dismantle” the International Criminal Court (ICC) during a closed-door meeting in Brussels, according to POLITICO.

U.S. envoy Matthew Whitaker called on allies to withdraw from the Rome Statute, warning, “We will be watching closely who stands with America.”

A U.S. document also urged allies to “publicly condemn” the ICC’s “overreach” and “cease” material support, concluding: “Let us end the charade of the ICC once and for all.”

🔼 🇺🇸 💵 KobeissiLetter: The US 10Y Note Yield officially rises above 4.90% for the first time since November 2023, now up +95 basis points since the Iran War began.

This puts the 10Y Note Yield up another +10 basis points since the US Treasury said it was TRIPLING long-term buybacks to $6 billion.

As we wrote in our below post yesterday, we are on track to see 5.00%+ by next week.

As a result, borrowing costs skyrocketing for both the US government and US consumers.

Now, the housing market is effectively frozen and US homebuyers are walking away from deals at the highest rate since 2023.

The bond market is quite literally fighting the US Treasury.

Prepare for a highly eventful Q4.

📝 David Sommers: US national debt is already 25% higher than it was in November 2023.

📎 KobeissiLetter

⚡️🇸🇦🛢 – Saudi Arabia reported to OPEC its oil output last month fell to 6.24 million barrels per day, the lowest level since 1990, due to disruptions caused by the Houthis.

It's likely this month it'll be even lower, following strikes on Jazan and Abha.

@GeoPWatch