Fun Facts from inside the Fortress of Finance:   - Over 70 million Trump accounts have been created, of which 60 million have been auto-enrolled. Over $8 billion have been deposited in these accounts since July 4th. With Musk’s announcement today, the total will rise to almost ~$19 billion at current SPCX prices. - The Treasury and IRS issued proposed regulations for the implementation of the new Federal Scholarship Tax Credit. It is estimated that as many 2.2 million scholarships of up to $3,400 each year will be funded in this first ever federal tax credit for private K-12 education starting in January 2027. - The OCC issued a bombshell report on debanking abuses during the Biden administration. The findings show that from 2020 to 2025 America’s nine largest banks actively pursued policies to deny or limit access to financial services based on the political or religious beliefs of their clients. The report examined over 100,000 complaints and over 50,000 internal bank records. - In the Secretary’s statement to the IMF/World Bank he asked the Fund to sharpen its analysis of “the role non-market policies and practices and exchange rates play in driving external imbalances,” and he asked the Bank to “formally retire its prohibition on financing upstream gas and oil”. - The somewhat hotter than expected core CPI and PPI numbers, the stronger retail sales/industrial production data, and the steady increase in energy prices over the past week have  NOT created any major headwinds for either the stock or bond markets. The S&P500 is about 1.5% off its record high set back on Oct 6th. And the 10yr Treasury yield has fallen over 20bps from its cycle highs of 5.36% set back on Oct 7th.