Archive - Macro4Micro

Market Commentary: The Curve 8-24-26

PCE inflation, a Warsh appearance of uncertain value, and Bessent as “creative” liability manager are this week’s highlights.

Aug 24 • Glenn Reynolds, CFA

Market Commentary Asset Returns 8-23-26

After a bad week for equities and bonds, the Canada trade war now must be framed for damage to industry fundamentals.

Aug 23 • Glenn Reynolds, CFA

US-Canada: Benches Ready to Clear

Canadian Federal and Provincial leaders provided extensive commentary on Saturday on CBC Canadian Broadcasting Corp. It is ugly.

Aug 22 • Glenn Reynolds, CFA

US-Canada Tariffs: Protection Racket

Facts and concepts have not been big factors in trade policy, so it is hard to say a deal is even done given very recent history.

Aug 19 • Glenn Reynolds, CFA

Housing Starts July 2026: Grim Numbers

July delivered double-digit declines YoY in total starts and single family starts while sequential MoM multifamily starts were also weak.

Aug 19 • Glenn Reynolds, CFA

Industrial Production July 2026: Resilient, Steady, Hopeful

Industrial production shows the benefits of the AI boom and related multiplier effects, but consumer goods soften.

Aug 18 • Glenn Reynolds, CFA

Market Commentary: The Curve 8-17-26

A soaring budget deficit of $40 trillion, interest expense of $1.2 trillion, and defense demands will keep UST supply anxiety high.

Aug 17 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 8-16-26

The UST curve cannot hide from the $40 trillion deficit headline while tech wrestles with the semis vs. software challenge.

Aug 16 • Glenn Reynolds, CFA

PPI July: When Lower is Better but Still Bad

PPI’s sequential improvement to 4.7% from 5.5% is good news but still more than double the long-term median.

Aug 13 • Glenn Reynolds, CFA

CPI July 2026: Slight Breeze, No Chill

The July CPI metrics were a relief just by missing negative surprises and continue the waiting game with PCE up later this month.

Aug 13 • Glenn Reynolds, CFA

The ChatGPT Living Wage Test

We ask AI what minimum wage would provide a living wage for various family profiles and various locations.

Aug 12 • Glenn Reynolds, CFA

Existing Home Sales July 2026: Slow Row

Existing Home Sales continues to struggle on mortgage rates and the monthly payment strain.

Aug 11 • Glenn Reynolds, CFA

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