🌏 Brazil's confidence split exposes the shallow-cut trap squeezing EM central banks
🇪🇺 ECB's first hike since 2023 lands in an economy the June data says is barely growing
🇬🇧 Manufacturing flatters the UK PMI, but services are sinking at the fastest pace in three years
🇺🇸 Warsh drops his dot and the guidance, leaving nine hawkish colleagues to speak for the Fed
📈 The Strategy: 2026-06-24
📑 The Watchlist: 2026-06-24
♟️ Oil markets crowd a best-case Iran settlement the Islamabad MOU cannot yet guarantee
📰 Daily Macro Roundup: 2026-06-23
🇨🇳 China's retail sales turned negative in May for the first time since the COVID lockdowns, and the PBoC held rates anyway
🌏 Brazil's Copom cuts the Selic to 14.25% as inflation expectations drift further from target; India holds at 5.25%
