Economy
The US Just Bombed Iran’s Shadow Fleet: What Happens to Oil, Banks and the Next Sanctions War?
TODAY'S NUMBERS:
$100 (Brent crude, after Wednesday's tanker strikes) · 4.92% (US 10-year Treasury yield) · $4,440 (gold, per troy ounce)
Oil and yields are climbing...
Gold Up, Dollar Down, Yields Rising: What Kevin Warsh’s Fed Is Doing to the Reserve Currency
TODAY'S NUMBERS:
$4,388 (gold, per ounce) · 98.6 (dollar index, four-month low) · 4.8% (10-year Treasury yield, highest since 2023). Gold and yields normally move...
Is the Global Economy Running Too Hot for Financial Markets?
The global economy has entered the second half of the year with surprising strength despite two wars, sharply higher energy prices and persistent geopolitical...
Why Gold Fell While Central Banks Kept Buying It
Gold used to spike on every Gulf war headline because the same buyers set both its price and its ownership. In 2026 those are...
Can Southeast Asia Drive China’s Next Clean Tech Export Boom?
China’s clean technology industry is entering a new phase. After years of rapidly expanding exports to developed markets, particularly Europe, Chinese manufacturers are increasingly...
US-Iran Fire in the Strait of Hormuz: What Happens to Oil, Gold and the Fed’s Next Move
TODAY'S NUMBERS:
$97.19 (Brent crude, a six-week high) · $5.85 (US retail diesel, a record) · 4.79% (US 10-year Treasury yield)
War in the Gulf is...
The Hidden Bill Behind Europe’s Defense Spending Boom
Europe's rearmament is being financed out of the welfare state, not economic growth, and different governments are settling that bill in different currencies: Germany...
Norway’s $2.3 Trillion Fund Is Cutting Treasuries. Here’s Who’s Left Holding Washington’s Debt
TODAY’S NUMBERS $80bn (Norway fund’s proposed Treasury cut) · 4.79% (US 10-year Treasury yield) · 289t (record Q2 central-bank gold buying) Sovereign money is...
Beijing Versus Washington: The New Economics of Iran’s Sanctions War
China is buying ninety percent of Iran's oil exports, settling transactions in renminbi, and hiding the rest beneath layers of shell companies. This is...
Could US Big Tech Crowding Out Europe’s Bond Market?
U.S. technology giants are increasingly turning to European bond markets to finance their massive AI and data centre investments. The shift is raising concerns...