Macro

Global economic trends, central bank policies, inflation data, GDP reports, and macroeconomic analysis.

• Lagarde will leave the ECB in February, nearly nine months early

  The ECB president said she wants the freedom to speak on matters beyond monetary policy. Her successor will be picked by EU leaders.

  Macro · Oct 30, 2026, 12:10 AM EDT · James Mitchell

• The most US-aligned countries cut Treasury buying by more than 60% through August, Bloomberg finds

  Bloomberg counts $174.3 billion of net Treasury buying by the most US-aligned countries from January to August, the least since 2021, with Asia leading the pullback as Japan's buying all but stopped and South Korea and Taiwan sold.

  Macro · Oct 28, 2026, 11:20 AM EDT · James Mitchell

• US military tells ships with no need to be near Hormuz to stay well clear

  A US Navy notice shared by maritime authorities on Oct. 28 says neutral ships may be questioned and searched under the blockade of Iran and should plan extra time, while traffic is already far below normal.

  Macro · Oct 28, 2026, 10:10 AM EDT · James Mitchell

• Consumer confidence jumps to 91.7, but the long-term trend is still down, Conference Board says

  The Conference Board's index rose 7.5 points to 91.7, well above the 81.0 economists expected, per investingLive. The figures are preliminary, and September was revised up.

  Macro · Oct 27, 2026, 11:50 AM EDT · James Mitchell

• Fire near Saudi Arabia's Ras Tanura oil hub is reportedly contained after an attack in the region

  A blaze near Ras Tanura was contained hours after it broke out, Türkiye Today reported. Bloomberg said how much damage it did is still unclear.

  Macro · Oct 27, 2026, 6:40 AM EDT · James Mitchell

• France's debt troubles look like everyone else's, only worse

  A big deficit, a stalled budget and record planned bond sales for 2027 have made French debt the euro zone's pressure point, and other indebted countries are feeling it.

  Macro · Oct 27, 2026, 1:20 AM EDT · James Mitchell

• Oil wavers as Saudi Arabia's defense minister holds de-escalation talks in Tehran

  Saudi Arabia's defense minister met Iran's president in Tehran after Qatari mediators visited on Sunday. Oil fell in the morning and was mixed by midday as Houthi attacks on Saudi Arabia continued.

  Macro · Oct 26, 2026, 2:10 PM EDT · James Mitchell

• Manufacturing jobs are inching up while a study warns of a technician skills gap

  Manufacturing employment is up 72,000 since a December low, per the BLS. A Deloitte and Manufacturing Institute study says technician jobs could grow six times faster than production work through 2030.

  Macro · Oct 26, 2026, 6:15 AM EDT · James Mitchell

• Family health coverage through work now costs $28,303 a year, and what workers pay is rising faster

  KFF's annual survey shows the average employer family premium rose 5% in 2026, while workers' $7,471 contribution rose 9%, faster than wages or inflation.

  Macro · Oct 24, 2026, 7:05 AM EDT · James Mitchell

• Gold falls below $4,000 for the first time since July as oil fuels Fed hike bets

  Rising oil prices lifted Fed rate-hike bets and a tech sell-off pushed investors to sell gold to cover losses, leaving the traditional haven on track for its worst week since June.

  Macro · Oct 24, 2026, 6:45 AM EDT · James Mitchell

• Global credit spreads hit a 17-month high as AI borrowing fears spread to bonds

  A Bloomberg index of global corporate bond spreads hit its widest since May 2025. This week Meta disclosed about $825 billion in commitments and a forecast need to raise hundreds of billions of dollars.

  Macro · Oct 24, 2026, 1:55 AM EDT · James Mitchell

• Oil hits a five-month high as Houthi strikes on Saudi Arabia pile onto supply fears

  A drone strike near Aramco's Shaybah field and an attack on Dammam's airport sent traders back to the risk premium, even as Saudi Arabia's Energy Ministry said operations at Shaybah were unaffected.

  Macro · Oct 23, 2026, 10:05 PM EDT · James Mitchell

• China's state-favored funds draw billions, and stocks sink deeper into a bear market anyway

  Funds favored by Beijing's 'national team' took in 46 billion yuan on Thursday, the most since April 2025, but the CSI 300 kept falling Friday as stimulus hopes faded and AI trades cooled.

  Macro · Oct 23, 2026, 8:05 PM EDT · James Mitchell

• 10-year Treasury yield drops below 5% as AI jitters send investors running for safety

  A sell-off in stocks over the AI trade sent money into government bonds on Thursday, pulling the 10-year yield under 5% for the first time since Sept. 23, with the odds of a Fed hike next week down to 7.2%.

  Macro · Oct 23, 2026, 6:35 PM EDT · James Mitchell

• China's blue-chip stocks hit the edge of a bear market as stimulus hopes fade

  The CSI 300 fell as much as 1.6% Thursday, leaving it around 20% below its June high, as a soft earnings season, a consumer slump and AI jitters meet fading hopes for big stimulus from Beijing.

  Macro · Oct 22, 2026, 3:20 PM EDT · James Mitchell

• Pending home sales drop 7.3% in September, and builders are pulling back too

  Contracts to buy existing homes fell 7.3% in September, NAR said. Housing starts came in below forecast, builder sentiment sank to its lowest since 2012, and both trade groups point to mortgage rates.

  Macro · Oct 22, 2026, 6:00 AM EDT · James Mitchell

• Oil edges higher as Iran claims Hormuz mine strikes no one has verified

  Iran's Revolutionary Guards say their mines hit tankers near the Strait of Hormuz. Nobody has independently confirmed it, but documented attacks on shipping and threats to Saudi oil sites have traders wary of supply risk.

  Macro · Oct 21, 2026, 8:25 PM EDT · James Mitchell