Why Pakistan and the Afghan Taliban Went From Allies to Enemies
Pakistan's air force recently attacked 10 places in Afghanistan. This is the second time in four days they have done this, following a period...
America Now Pays 5% to Borrow: Where Japanese, Norwegian and Gulf Money Is Going Instead
TODAY'S NUMBERS
5.17% (US 10-year yield, highest since 2007) · 54.3% (indirect bid at Wednesday's five-year auction; average 65.2%) · $1.10trn (Japan's Treasury holdings, down...
Europe Trades Two Oligarchs for a Three-Year Freeze as Washington Aims at Russia’s Oil Buyers: Who Wins, Who Pays?
TODAY'S NUMBERS
36 months (the EU's new Russia asset-freeze renewal cycle, up from six) · 100% (top US tariff on Russia's five biggest buyers) ·...
The Two Vacuums: Who’s Really Replacing China in Africa
On September 22, 2026, Russia's Africa Corps fired a Ukraine-war-model Molniya kamikaze drone at al-Qaeda-linked fighters besieging its position near Dioura, in Mali's Mopti...
Treasuries Break 5% as the Fed Turns Hawkish: What Happens to the Dollar, Gold and America’s Borrowing Power?
TODAY'S NUMBERS
5.06% (US 10-year Treasury yield, highest since 2007) · 100.9 (Dollar index, seven-week high) · 1,000+ tonnes (China's gold imports, January–August)
The world is...
The Blackout That Sparked a 55-Nation Satellite Arms Race
At a space-security summit in Paris this month, Novaspace chief executive Pacôme Révillon put a number on something most of the room already suspected:...
Beijing’s Two-Track Money Play: A Stronger Yuan for Washington, a Harder Line on Belt and Road Debt
Today's Numbers
$126.4bn (China's record H1 2026 Belt and Road engagement) · 8 (straight sessions of a stronger PBOC yuan fix, the longest streak since...
Porsche’s Decline: From Volkswagen’s Crown Jewel to Growing Burden
Volkswagen's luxury brand Porsche has become a significant issue for CEO Oliver Blume's restructuring plans at the company. Just a few years after a...
Trump’s Iran Opening Sinks Oil: What Markets Are Pricing In Before He Meets Xi
TODAY'S NUMBERS
$100.65 (Brent crude, -3.1%) · $4,355 (gold, per oz.) · 3.75%-4.00% (Fed funds rate)
Oil is pricing in Iranian de-escalation while gold barely moves —...
How Putin Could Use Russia’s Election Result to Strengthen His Grip
Russians are participating in a three-day parliamentary election that is expected to confirm the ruling United Russia party's control in a political system that...