US economic data is suggesting a slowing US economy, with the question about tariff-inflation unresolved. Unlike the Fed, the ECB continues to ease, lowering its policy rates 25bps on Thursday (for the 8th time). Risk markets remain relatively resilient, and bond yields improved, too. The Trump-Musk feud has grabbed headlines this week.

All eyes have been on the 2025-26 US budget discussions in the House this week, with the "big beautiful bill" getting through (albeit barely) and heading to the Senate. Professional bond and currency investors are signalling concern, visible in higher UST yields and a weaker US Dollar.

Markets continued to stabilise this week, at least as far as risk assets including global equities and BTC. Other assets moved sideways.

The first quarter was actually quite decent for me, although the start to April has been horrible since there is nowhere to hide.

The announcement of tariffs by President Trump on Weds made a nervous market completely puke, with stocks getting hammered.

Inspired by Mr Trump's false claims that he inherited the "worst economy ever", this article looks at administrations' economic performance.

This article summarises two articles and one podcast that are topical,: US/EU automotive tariffs, social security "fraud", and steel tariffs

Here are a few last-minute thoughts on the US election which will be held on Tuesday, Nov 5. A lot is at stake, but Weds, the world goes on

There are many important issues in the US Presidential election, but none more so perhaps than immigration, inflation, and abortion.