🌏 South Africa's leading index is at 123.0 and rising. The SARB may hike despite the recovery its own data is signaling.
🇬🇧 Non-food prices have turned positive in the UK, and the Budget is why
🇪🇺 Spain's PPI doubled in April. Core goods fell. The ECB's June 5 problem just got messier.
🇺🇸 US home prices post their softest annual gain since 2023, with Zoom towns slipping into outright nominal decline
📈 The Strategy: 2026-05-26
📑 The Watchlist: 2026-05-26
🌐 Industry in Focus, 25-05-2026: Oil markets had a backup route around Hormuz. Iran took it out.
🌐 Spain loses the Shakira case and €60 million. Turkey is paying attention.
🌏 India WPI at 8.30% is a 42-month high, and Hormuz has turned a Gulf supply shock into a central bank problem across EM
🇬🇧 UK's Q1 GDP beat was broad and real. The trade deficit is the asterisk.
