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The current state of play, organised by section. Daily and weekly briefings, ordered by what just happened.
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The day in view
📰 Daily Macro Roundup: 2026-07-13
🇨🇳 China's AI export boom masks a consumer economy that's still shrinking
🌏 India's inflation breaks back above target just as Hormuz sends oil higher
🇬🇧 The BoE's own chief economist is now its loudest hawk
🇪🇺 France pays a growing premium over Germany, even in three-month bills
🇺🇸 Williams' 0.2% inflation line is already broken, and CPI lands tomorrow
The week in view
📰 Weekly Macro Roundup: 2026-07-11
🇨🇳 China's four-year-high producer prices are an energy shock already in retreat
🌏 EM's 2026 rally hides two very different trades under one index
🇬🇧 UK growth is contracting while inflation refuses to fall, and the BoE is walking into a split vote
🇪🇺 The ECB hiked into an energy shock that was already fading
🇺🇸 June's 57,000 jobs miss hides a bigger labor force exodus
The Watchlist
The Strategy
Industry focus
🏭 Memory chips, not GPUs, are quietly running this AI supercycle
🏭 Meta's plan to resell its own AI compute is the semiconductor rally's first warning sign
🏭 Broadcom's record AI quarter wasn't enough for a market pricing in perpetual acceleration
🏭 Broadcom guided short, the SOX had its worst day since March 2020, and the miss may say more about the custom silicon cycle than about AI demand
🏭 RTX Spark gives Nvidia a consumer PC chip and CUDA a foothold in every Windows laptop
🏭 Industry in Focus, 27-05-2026: Two memory makers crossed $1 trillion in a week. HBM is the real ceiling on AI infrastructure.
The week in geopolitics
♟️ Hormuz tanker strikes expose the deniability gap in Iran's leaderless ceasefire
♟️ Markets are pricing an Iran peace dividend that Israel hasn't endorsed
♟️ Oil markets crowd a best-case Iran settlement the Islamabad MOU cannot yet guarantee
♟️ Iran shot down a US Apache, Washington struck back within 24 hours, and the G7 couldn't hold the room on Ukraine
♟️ Lebanon strikes crack the Iran ceasefire and hand Trump a Netanyahu problem he cannot solve
♟️ Oil priced the deal; Lebanon just sent the invoice
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