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August 27, 2026
ECB Account: Hard Not to Read Between the Lines on Sep
August 27, 2026 1:01 PM UTC
* Some members would not have opposed raising rates at the last meeting
* While decisions remained data-dependent, another rate hike would likely be necessary unless the inflation outlook improved significantly
* Market participants appeared to have a good understanding of the ECB’s reaction functio
August 26, 2026
U.S. July and revised Q2 Core PCE Prices on the firm side, Income and Spending also exceed expectations
August 26, 2026 1:37 PM UTC
While July’s core PCE price index came in at 0.2% as expected, before rounding the rise was 0.246%. Q2’s core PCE price index was revised up to 3.6% annualized from 3.4%, making the data a modest disappointment, which will sustain Fed inflationary worries, though is not quite enough to make a Se
August 25, 2026
Bessent’s Buybacks - bluster, bazooka or brittle bet?
August 25, 2026 3:57 PM UTC
* Bessent’s buybacks – bazooka or peashooter? It depends on whether it’s a slippery slope. On current proposed scale, possibly only absorbs around 10% or so of gross long end Treasury issuance on duration basis
* Mooted TGA use is not a free $1trn money pot, though it could provide some short-t
August 24, 2026
Escalation Risk in U.S.-Canada Trade Dispute
August 24, 2026 3:11 PM UTC
The immediate economic impact of the collapse of the US-Canada trade talks is likely to be modest, but not insignificant in the case of Canada. Where things move from here is uncertain, with Canadian retaliation due to be implemented on September 8, and risk of further mutual escalations after tha
August 21, 2026
U.S. August S&P PMIs - Manufacturing loses momentum, Services surprisingly strong
August 21, 2026 2:03 PM UTC
August’s preliminary S and P PMIs show a contrast between an unexpected slowing in manufacturing, to 53.2 from 53.9, but surprising strength in services is probably more significant, with a rise to 56.8 from 54.6. The composite rose to 56.0 from 54.5.
This week's five highlights
August 21, 2026 11:00 AM UTC
UK Energy Prices and Weak Labour Market
Fresh U.S. Tariff Risks to Canada's Economy are Moderate
FOMC Minutes Show Inter-meeting data seen as important
U.S. July Industrial Production Healthy excluding a dip in autos
U.S. July Housing Starts and Permits Mixed