Stocks
March was a month when almost nowhere was safe. The S&P 500 fell 1.9% over the period, dragged down by a sharp drop in technology stocks, which lost 3.5% as a group. Communication services fared even worse, shedding 7.2%. Energy was the lone bright spot,
Money & Markets
Brent crude closed at $112.96 on April 2, its highest level in over a decade and a half, after Iran declared a full blockade of the Strait of Hormuz. That single waterway normally carries about 20 million barrels of oil per day, roughly one-fifth of everything the world
Fiscal Policy
France is facing a manufacturing crisis. Factory closures jumped 30% in the first quarter of 2026 compared to the same period last year. Industrial production is contracting. Jobs are being lost. And there's no quick fix in sight. The dual pressures of Asian competition and US tariffs are
Monetary Policy
A wave of interest rate cuts is sweeping across Africa as inflation finally eases after years of pain. Six central banks cut rates in the first quarter of 2026: Kenya, Egypt, Angola, Ghana, Mozambique, and Zambia. It's one of the most coordinated monetary easing cycles the continent has
Monetary Policy
New Zealand just delivered an inflation surprise that's forcing the Reserve Bank of New Zealand to completely rethink its monetary policy plans. Consumer price inflation came in at 3.1% for the fourth quarter of 2025, above the RBNZ's 1% to 3% target band and well
Monetary policy
The Reserve Bank of Australia raised interest rates again on March 17, lifting the cash rate by 25 basis points to 4.10%. This is the second consecutive hike, and markets are pricing in at least one more before the cycle ends. The decision was narrow. The board voted 5
Economic growth
Nigeria is beginning to see early signs of relief from inflation after several years of painful price increases. The Central Bank of Nigeria (CBN) projects that inflation could fall to around 12.9% by the end of 2026, down from an average of about 21% in 2025. If achieved, this
Economic growth
The US labor market just delivered a stunning shock. Nonfarm payrolls for February came in at negative 92,000, meaning the economy lost 92,000 jobs. That's the first negative monthly reading since the pandemic recovery in 2020. Markets were expecting a gain of around 150,000 jobs,
Inflation
Colombia is dealing with some of the highest inflation in Latin America. Consumer prices rose 6.4% year over year in February, well above the central bank's target range of 2% to 4%. And it's probably going to get worse before it gets better. The Central
Inflation
Eurozone inflation just reversed course in a big way. The flash estimate for March came in at 2.5% year over year, up sharply from 1.9% in February. That's the biggest monthly jump since the initial phase of the Ukraine conflict in 2022. The European Central Bank&
Stocks
Stock markets around the world fell sharply after European Central Bank President Christine Lagarde warned that investors are being too optimistic about the economic outlook. The Nasdaq officially entered correction territory, down more than 10% from its recent peak. European markets dropped 2.8%. Asian stocks fell across the board.
Investments
Mexico's central bank, known as Banxico, shocked markets on March 27 by cutting interest rates 25 basis points to 6.75%, even though inflation is running at 4.63%, well above the 3% target. The decision was highly controversial within the bank itself. The vote was 3 to