🌏 Korea's rate hike is the good version of EM tightening, Iran's chokepoint threat is the bad one
🇬🇧 UK growth beat can't hide a 5% gilt yield problem Burnham can't cut his way out of
🇪🇺 Eurozone slips into a trade deficit as industrial output stalls and Italian inflation undershoots
🇺🇸 Cook's hawkish vote shows Trump's Fed chair pick can't cut rates alone
📰 Daily Macro Roundup: 2026-07-15
🇨🇳 China's credit engine is stalling, and Q2 growth just broke through the floor
🌏 Korea hikes rates while Brazil counts the cost of its own tightening cycle
🇬🇧 Bailey pitches growth at Mansion House while Treasury's own numbers price in a hike
🇪🇺 Factories are shrinking and Spanish prices won't budge, making the ECB's July 23 hold harder to wave through as routine
🇺🇸 Warsh's hawkish debut lands right as the energy tailwind behind June's soft prints is about to reverse
