Ben Harnwell

Well, Steve, that's such a magisterial synthesis.

I've basically flagged up four or five different articles I was going to bounce off progressively.

Let's start off with, yeah, I mean, that's basically the situation.

President Trump has sent out invitations to his best mates asking for RSVPs, and the responses are coming in saying, thanks, love to, but, mm, mm.

prior engagement, so sorry.

It's been tragic to watch, even from my glittering, beady, cynical eyes.

Let's start off with the FT article, because I think that really is quite substantial, because this shows you

What your friends and allies who who who will never say no to schlepping over to the White House for the photo are actually doing behind the scenes.

So since February the 25th, don't forget the takeout of the of the Ayatollah was on the 28th.

So from this, according to the Fed's own data, Steve, since February the 25th.

nations have sold $82 billion worth of treasuries.

Now, it's difficult to pinpoint who exactly has been doing this, so the FT suggests it's Turkey and India.

Turkey has sold $22 billion worth of treasuries, but not necessarily exclusively US treasuries, just $22 billion worth of bonds, of central bank bonds.

Holdings.

So those are the two figures.

And I flag up India and Turkey specifically.

Prime Minister Modi always very happy to go over to the White House for the photo op, but here protecting his own nation's interest.

Erdogan, NATO ally, idem.

Let's look at either the Spanish and Italian developments, because these are interesting.

Different in their responses, but just the no is just as firm and just as unyielding.