More: Analysis
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...
The Kingdom With No Exit
On September 11, drones launched from Iraq struck Saudi Arabia's East West Pipeline, the 1,200 kilometer link that carries up to seven million barrels...
The Persistent Myth of Lower Prices
Europe's energy debate continues to be influenced by assumptions that belong to a different era. Throughout much of the period that followed the end...
Did Xi Jinping Outplay Trump Before the White House Talks Even Began?
A tarmac welcome, a paused Taiwan arms package and a trade truce that conveniently outlasts the midterms. Trump's White House summit with Xi Jinping...
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...
Reciprocity, Selectively Applied: The Contradiction at the Center of the Trump and Xi Summit
When Xi Jinping's plane touches down at Joint Base Andrews on Wednesday, he arrives to a reception built for maximum contrast with his last...
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:...
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 —...