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Past Issues
Every edition of The Brief and The Deep Dive — archived and free to read.
Wall Street at Records, Iran Oil Crisis & The Fed's Big Week
S&P 500 hits 7,537 all-time high. Iran attacks oil tankers in the Strait of Hormuz, sending crude up 5%. CPI, bank earnings, and the Fed Chair all land at once.
Read issue #007 →The Oil Shock, the Fed, and Your Wallet: Why This Week Could Define the Next 12 Months
Iran attacks oil tankers. US inflation sits at 4.2%. Stocks are at record highs. These aren't separate stories — they're chapters in the same one. Here's the full picture.
Read issue #007 →June Jobs +182k, US Navy Escorts Hormuz & G7 Sanctions Iran
The first mild cooling in the US labour market. The US Navy launched escort operations in the Strait of Hormuz as oil spiked to $78. G7 coordinated a sanctions response.
Read issue #006 →The UK Stagflation Trap — Why Britain Struggles While America Booms
UK GDP barely grew in two years. Inflation is at 3.2%. The Bank of England has no good options. Here's why the UK is in a structurally different position — and what history says happens next.
Read issue #006 →S&P Closes H1 Up 18.6%, PCE Re-accelerates & UK Flirts With Recession
The best first half for US stocks since 2019 — but driven by five companies. US inflation ticked back up. And the UK economy just contracted for the second time in four quarters.
Read issue #005 →H1 2026 Review — What Drove the Rally and What Comes Next
An 18.6% S&P gain hiding a 10-point gap between cap-weighted and equal-weighted returns. Three H2 scenarios. And the signals that will tell you which one is playing out.
Read issue #005 →Fed Hawkish Hold, Nvidia $3.5 Trillion & China PMI Contracts
The Fed kept rates steady but signalled cuts are off the table — and maybe hikes are back on. Nvidia hit a new record. China's factories contracted for the second month running.
Read issue #004 →The Fed's Credibility Problem — Kevin Warsh's First 100 Days
The Fed cut rates in 2024–25. Inflation re-accelerated. Now Kevin Warsh has to rebuild the central bank's anti-inflation credentials from scratch. Here's what that means.
Read issue #004 →UK CPI Hits 3.2%, BoJ Hikes to 1% & US Retail Beats
UK inflation ran hotter than forecast. Japan raised rates for the first time in 17 years — sending the yen surging and putting global carry traders on alert. US consumers keep spending.
Read issue #003 →Japan's Rate Shock and the Global Carry Trade Unwind
Trillions of dollars were borrowed in yen when it was essentially free. The Bank of Japan just raised rates to 1%. Here's what that means for global markets — and why it can cause a Nasdaq sell-off.
Read issue #003 →245k Jobs, ECB Cuts to 2.25% & Nvidia Hits $3 Trillion
The US added far more jobs than expected. The ECB cut rates as Europe diverges from America. And Nvidia crossed a market cap milestone that would have seemed impossible five years ago.
Read issue #002 →Is the AI Boom a Productivity Revolution or the Most Expensive Hype Cycle in History?
Nvidia at $3 trillion. Hyperscalers spending $300bn on AI infrastructure. Strong jobs killing rate-cut hopes. Here's how to tell a genuine transformation from a bubble.
Read issue #002 →PCE Stalls at 3.8%, OPEC+ Extends Cuts & Buffett Sits on $350bn
The Fed's favourite inflation gauge hasn't moved in four months. OPEC+ extends cuts to defend oil prices. And Warren Buffett just broke his own record for cash on the sidelines.
Read issue #001 →OPEC's Fading Power, Sticky Inflation, and What Buffett's Cash Pile Is Really Saying
PCE at 3.8%, OPEC+ managing decline rather than dominance, and Berkshire sitting out the market. Three stories — one message: higher for longer is not going away.
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