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Live Blog

 the New York Times office.

Here is your live blog for the day.

Establishment journalists had a hissy today because President Trump called on Daily Caller reporter Saagar Enjeti  first during a joint press conference with the Italian prime minister.

For example, we have "Fusion Ken" from NBC:

And here's ABC's Evan McMurry:

Commentary's Seth Mendel makes an excellent point here:

I don't think anybody at PJM has covered this yet but Russia has dumped more than 80% of its US bond holdings in a very short period of time.

CNNMoney:

Between March and May, Russia's holdings of US Treasury bonds plummeted by $81 billion, representing 84% of its total US debt holdings.

The sudden debt dump may have contributed to a short-term spike in Treasury rates that spooked the market. 10-year Treasury yields topped 3% in April for the first time since 2014.

It also sparked a guessing game about Moscow's motivations. Maybe Russia just wanted to diversify its portfolio, as the central bank stated. Or perhaps Russia was seeking revenge for Washington's crippling sanctions on aluminum maker Rusal.

Did Russia really try to to exact revenge for sanctions by driving US treasuries higher?

Bloomberg:

Now, if Russia really did offload the majority of its Treasuries, that surely contributed to the march higher in U.S. borrowing costs. Ian Lyngen at BMO Capital Markets quipped that “The market now has the answer to what would happen to Treasuries if a major holder decided to sell everything.” That would be a measly 11 basis points — the difference between 10-year yields at the end of March and the end of May.

 

If you wanted to know if the Swedish media had its own version of the popular "Republicans Pounce" meme, here's your answer.

Steve noted that Mercator study that pegged Medicare for all spending at $32.6 trillion over 10 years.

So naturally, the left cheered the fact that the Bernie Sanders proposal would save $2 trillion over the same period.

The socialist rag Jacobin:

"Even Libertarians Admit Medicare for All Would Save Trillions"

This is just plain lying:

At first glance, it is strange that the Mercatus Center, which is libertarian in its orientation and heavily funded by the libertarian Koch family, would publish a report this positive about Medicare for All. The claim that “even the Koch organizations say it will save money while covering everyone” provides a useful bit of rhetoric for proponents of the policy.

But the real game here for Mercatus is to bury the money-saving finding in the report’s tables while headlining the incomprehensibly large $32.6 trillion number in order to trick dim reporters into splashing that number everywhere and freaking out. This is a strategy that already appears to be working, as the Associated Press headline reads: “Study: ‘Medicare for all’ projected to cost $32.6 trillion.”

Not hardly. The "savings" would be in lower drug prices and administrative costs. But, as the AP reports, "It would deliver significant savings on administration and drug costs, but increased demand for care would drive up spending, the analysis found."

So we should adopt Medicare for all to save $2 trillion in health care costs while spending $32 trillion more? Sheesh.

Now that's change you can believe in.