Stocks
Something unusual is happening in Japan's government bond market, and it matters well beyond Tokyo. The benchmark 10-year Japanese government bond yield hit 2.496% in mid-April, the highest since 1997, with yields settling at 2.468% after the Bank of Japan's latest policy
Stocks
Indian equities kicked off May on a bullish note. The BSE Sensex climbed 997 points on Monday as Maruti Suzuki reported record total sales for April, up 33.29% year-on-year, with domestic sales hitting an all-time high of 191,122 units versus 142,053 the prior year.
Monetary Policy
When the European Central Bank postponed its planned rate reductions in March and the Bank of England held rates at 3.75%, both decisions were framed as prudent caution in the face of uncertainty. That framing has not changed in the weeks since, but the underlying dilemma has sharpened considerably.
Fiscal Policy
The Strait of Hormuz is roughly 33 miles wide at its narrowest point. Through that narrow passage flows roughly 20% of the world’s oil and liquefied natural gas supply. Since Iran effectively closed the strait in early March 2026, that chokepoint has become the central variable in fiscal budget
Monetary Policy
The Senate Banking Committee is scheduled to vote Wednesday on Kevin Warsh’s nomination to lead the Federal Reserve, a vote that was blocked for weeks by Senator Thom Tillis of North Carolina until the Department of Justice dropped its criminal investigation into Jerome Powell last Friday. With that obstacle
Monetary Policy
The Federal Reserve goes into its April 28-29 FOMC meeting with interest rates sitting at 3.50% to 3.75%, exactly where they were after the March 18 decision. Markets have priced in a 100% probability of no change, according to CME FedWatch data, and Fed funds futures suggest
Economic Pulse
The IMF’s April 2026 World Economic Outlook devoted an entire chapter to the macroeconomic consequences of rising defense spending, and the findings are timely. As geopolitical tensions intensify, governments around the world are scaling up military budgets at a pace not seen in decades. In a typical defense spending
Economic growth
If the United States is feeling the oil shock in its inflation data, Europe is absorbing it through something far more dangerous: the prospect of simultaneous high inflation and near-zero growth. The European Central Bank’s own warning is stark. A prolonged Middle East conflict will likely trigger a
Economic Pulse
The numbers from the International Energy Agency’s April 2026 Oil Market Report are difficult to overstate. Global oil supply fell by 10.1 million barrels per day to 97 million barrels per day in March, following continued attacks on energy infrastructure in the Middle East and the de facto
Economic growth
Every April, the International Monetary Fund releases its World Economic Outlook and the report sets the tone for how policymakers and investors think about the global economy for the months ahead. The April 2026 edition, titled “Global Economy in the Shadow of War,” is the most sobering in recent memory.
Personal Finance
For most American households, the Iran war is not an abstract geopolitical event. It is showing up at the pump, in grocery receipts, and on utility bills. U.S. retail gasoline prices averaged $3.99 per gallon as of March 30, the highest in real terms in over two years.
Stocks
In the middle of a war-driven oil shock and persistent inflation, hedge funds have been buying stocks at a pace that is hard to wrap your head around. According to Goldman Sachs data, funds purchased a record $86 billion in equities over just five trading sessions, driven mainly by