Yes, it's definitely a US-centric strip. Especially the part about the recent performance of the S&P 500 index vis a vis the value of the 30-year US treasury over the past few months. There's also some political commentary about the US elections in November. Admittedly, you need to read between the lines to see it. It's right before the cash cow gets a distended colon from straining his bowels too much.