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Prime Day: Four days of discounts, and tariffs

Amazon’s annual Prime Day shopping event expanded into an unprecedented four-day commercial extravaganza, offering millions of aggressive digital promotions.

The tax break that could spark a factory boom

Independence Day: The real cost of the "big beautiful bill"

As the nation celebrated Independence Day, non-partisan budget scorekeepers delivered a chilling structural assessment of the recently enacted fiscal legislation.

The debt ceiling rises by $5trn

Presidential signature of the Omnibus Budget and Balanced Border Act (OBBBA) officially raised the statutory federal debt ceiling by an astronomical $5 trillion, putting an end to months of political brinksmanship.

A divided Fed

The Federal Open Market Committee's June Summary of Economic Projections revealed an unprecedented, deeply fractured policy consensus.

America bombs Iran. Oil falls

Following days of intense speculation and surging energy markets, the United States military executed coordinated strikes on 21–22 June targeting specific Iranian-aligned operational facilities in the region.

Stablecoins could become big buyers of Treasuries

The United States Senate took a historic legislative step by passing the Guiding Electronic National Innovation and Uniform Standards (GENIUS) Act, establishing a formal federal regulatory framework for dollar-backed stablecoins.

Oil jumps as Israel strikes Iran

Tariffs still aren't showing up in prices

The release of the May consumer price index, showing headline inflation advancing at a restrained 2.4 per cent year-on-year, once again confounded expectations of an immediate tariff-induced inflationary surge.

China's rare earths are its best weapon

Steel tariffs double

The White House delivered an unexpected and severe escalation in its metals protection doctrine, doubling baseline tariffs on imported steel and aluminum from 25 per cent to a staggering 50 per cent, effective 4 June.

The tax aimed at foreign investors

Capitol Hill’s latest legislative draft sent an immediate chill through global capital markets: a proposed withholding tax surcharge of up to 20 per cent levied on foreign holdings of US corporate equity dividends and debt interest.

A court strikes down Trump's tariffs, for now

The "big beautiful bill" and its big bill

The House of Representatives cleared the administration’s signature legislative initiative—the sweeping 'One Big Beautiful Bill'—by a razor-thin partisan majority on 22 May.

Memorial Day: Downgraded, and still spending

Walmart warns prices are going up

America loses its last AAA rating

The United States lost its final pristine sovereign credit rating as Moody’s Investors Service downgraded the federal government’s long-term issuer rating from Aaa to Aa1 on 16 May.

Where are the tariff price rises?

Despite months of aggressive protectionist rhetoric and escalating border levies, official consumer price data continues to defy stagflationary warnings.

America and China call a truce

Britain gets the first trade deal

The United Kingdom secured the first bilateral trade accommodation of the new protectionist era, finalizing an executive agreement that provides targeted tariff relief for British automotive exports.

China holds the yuan steady

GDP shrank. The economy didn't

Advance estimates of first-quarter gross domestic product revealed an eye-catching headline contraction of −0.3 per cent, prompting sensationalist recession declarations across the financial press.

The import rush that will shrink GDP

Tariffs haven't dented Big Tech's AI spending

As industrial manufacturers, retail chains, and automotive conglomerates slashed capital budgets under the cloud of escalating trade wars, Silicon Valley’s technology titans remained totally insulated.

"Sell America": are foreign investors walking away?

The US Dollar Index collapsed to a three-year low near 98, fueling whispers of an institutional 'Sell America' wave across global foreign exchange and sovereign debt desks.

The dollar stops acting like a safe haven

A multi-decade constant of global financial markets has evaporated: the US dollar is no longer functioning as an automatic safe haven during periods of macroeconomic turbulence.

Tax Day: The biggest tax rise in decades isn't in the tax code

On Tax Day, American corporations and households were reminded that the largest federal revenue expansion in modern history was enacted without a single vote in the House Ways and Means Committee.

145%: a tariff that stops trade

Companies stop giving forecasts

Confronted with erratic trade policy announcements, fluctuating border duties, and an abrupt 90-day tariff truce, corporate America responded with a collective blackout: withdrawing forward financial guidance.

Stocks and bonds fall together. That's the problem

The cardinal rule of modern risk management—that sovereign bonds provide a reliable hedging offset against equity portfolio drawdowns—broke down completely this week.

The formula behind Trump's tariffs

The White House’s formalization of a mathematical formula tying bilateral tariff rates directly to merchandise trade deficits sent equity markets into a tailspin, with the S&P 500 plunging 4.8 per cent on 3 April.

Liberation Day: what to expect

Dubbed 'Liberation Day' by administration trade strategists, the scheduled expiration of multi-decade international tariff agreements presents global supply chains with an unprecedented scenario tree.

Carmakers face 25% tariffs

The automotive industry’s worst geopolitical nightmare materialized as Washington enacted sweeping 25 per cent tariffs on imported motor vehicles and critical automotive sub-assemblies.

The Fed quietly stops shrinking its bond pile

With minimal fanfare, the Federal Reserve executed a pivotal operational pivot in its quantitative tightening (QT) program.

The Fed sees slower growth and higher prices

The Federal Open Market Committee’s updated Summary of Economic Projections delivered a sobering reality check to market participants hoping for a smooth economic landing.

Germany rewrites its debt rules

The German Bundestag formally ratified a historic constitutional amendment modifying the nation’s stringent debt brake, establishing a dedicated, multi-year €500 billion off-budget infrastructure and modernization vehicle.

The market's biggest names fall hardest

The S&P 500 slipped into official market correction territory, dropping ten per cent from its recent highs, led downward not by speculative micro-caps or distressed cyclical debt, but by the market’s most celebrated corporate titans.

Germany opens its wallet, and bonds tumble

A multi-decade pillar of European fiscal austerity collapsed in a single trading session.

The recession forecast caused by gold bars

The Atlanta Fed’s widely followed GDPNow tracking model shocked financial markets by abruptly plunging to an annualized reading of −2.8 per cent for the first quarter.

Tariffs on Canada and Mexico go live

Following weeks of temporary stays and diplomatic maneuvering, the 25 per cent blanket tariffs on imports from Canada and Mexico took full statutory effect, alongside an escalated 20 per cent duty on Chinese goods.

Nvidia's margins slip

Nvidia’s fourth-quarter earnings release showcased staggering top-line demand, with quarterly revenue reaching $39.3 billion.

Markets swap inflation fear for growth fear

Financial markets have undergone a decisive psychological pivot over the past fortnight: the primary driver of asset prices has shifted from inflation anxiety to acute growth deceleration fears.

January inflation strikes again

A blistering 0.5 per cent month-on-month advance in the January consumer price index, lifting the headline year-on-year rate to 3.0 per cent, reminded financial markets that inflation seasonality remains a persistent monetary hazard.

Why Trump counts VAT as a tariff

A central pillar of the administration’s new trade doctrine is the formal classification of foreign Value-Added Taxes (VAT) as discriminatory non-tariff trade barriers.

Valentine's Day: America and Europe's trade breakup

On Valentine’s Day, Washington formalized a cold diplomatic rupture with its primary transatlantic trading partners through the release of the comprehensive Reciprocal Trade Memorandum.

Steel tariffs squeeze American manufacturers

The White House’s sudden imposition of an uncompromising 25 per cent tariff on imported steel and aluminum, stripped of historical partner exemptions, has sent immediate shockwaves through domestic manufacturing supply chains.

Why the dollar isn't rising on tariffs

Economic textbook orthodoxy dictates that when a large economy imposes across-the-board tariffs, its domestic currency must appreciate to restore external balance.

Super Bowl: $8m ads, gloomy shoppers

CBS commanded an unprecedented $8 million per 30-second commercial slot for Super Bowl LIX, underscoring the enduring corporate appetite for live mass-audience spectacles.

600,000 jobs erased from the record

The Bureau of Labor Statistics delivered its annual benchmark revision to non-farm payrolls, officially subtracting nearly 600,000 jobs from the previously reported employment ledger for 2024.

Tariffs on, tariffs off

The White House’s trade strategy has settled into an exhausting, high-velocity operational rhythm: weaponize tariff threats over the weekend, extract rapid diplomatic concessions, and declare temporary enforcement pauses.