Welcome to the Beverly Hills Unified School District, home to one of the nastiest local races of the year, complete with flying insults, dueling restraining-order petitions and a yard-sign whodunit. 🔗

Welcome to the Beverly Hills Unified School District, home to one of the nastiest local races of the year, complete with flying insults, dueling restraining-order petitions and a yard-sign whodunit. 🔗

Tomorrow, one possible outcome after the Fed hiked, is that we may discover that tightening doesn’t lower long-term yields. If that happens, it would confirm that fiscal is the culprit in the whodunnit saga. By raising the government’s marginal funding cost, a rate hike enlarges future interest deficits and increases the amount of debt Treasury must place with private investors. If investors doubt that fiscal policy will offset those costs, the term premium could rise, pushing long yields higher and reinforcing the deterioration in debt service.

The raid on Ilhan Omar's home was triggered by information discovered on a seized phone belonging to Omar's sister, according to the New York Times. The report comes as new reporting by NewsNation reveals that feds were dumpster-diving at Omar's home, presumably to obtain DNA evidence. Federal investigators are reportedly reviewing family text messages that implicate Rep. Omar. "The messages were obtained from a phone that officials seized earlier this year from one of Ms. Omar’s sisters, Sahra Noor," the New York Times reported. Whatever they discovered on the phone was used to get a federal judge to authorize a search of Omar's home. The investigation will find out if Omar and her family members lied on immigration paperwork to get into the United States. NewsNation also reports that federal agents collected Omar's garbage. Former federal prosecutor Shan Wu says the move is confusing but could be to determine Omar's own relationship to her family, including claims she married her brother. "If we’re looking at DNA, it’s like a whodunnit: ‘Were they there?’ And it’s kind of hard to figure out how the fraud investigation would figure into that type of evidence," said Wu.