Macro · past 30 days
Monetary policy, central banks, inflation, currencies, and sovereign debt: the machinery that prices money itself. Polylog reads macro through a sound-money lens, watching credit expansion, real rates, and the slow shift toward a multipolar monetary order.
Macro
Hong Kong Expands Yuan Funding as Beijing Builds Channels Around the Dollar
The city will enlarge its offshore renminbi facility and launch a new fixed-income trading system, part of a steady effort to widen the currency's international use.
Macro
Europe's Economists Warn of Recession Risk as Aging and Thin Budgets Bite
A senior euro-area official said governments must generate growth with little fiscal room, while Germany recruits abroad to offset a shrinking workforce.
Macro
Euro Area Faces Recession Risk With Little Fiscal Room
A senior European economist said governments must generate growth even as an aging workforce forces Germany to recruit abroad.
Macro
India and Indonesia Link Payments and Ports, Around the Dollar
Jakarta and New Delhi advanced cross-border digital payments, port infrastructure and trade during Modi's state visit.
Macro
A Russian Business Leader Calls the War Economy's Tilt Temporary
The head of Russia's main industrial lobby said the shift toward defense production should be reversed, as wartime disruptions spread to civilian life.
Macro
Global Investors Shift From Access to Scale in the Yuan, With Hong Kong as the Anchor
A survey of large institutions points to a slow, structural rebalancing of trade and reserves toward China's currency and regional blocs rather than a sudden break from the dollar.
Macro
Russia's Central Bank Sends a Cautious Signal as the War Economy Strains
Policymakers disappoint markets hoping for clarity while state banks rely on lending to small businesses to keep activity going.
Macro
Bank of Israel Is Expected to Cut Rates Again as Easing Cycle Gathers Pace
Markets price a second consecutive quarter-point cut, part of a broader turn by central banks toward easier money that keeps hard assets in demand.
Macro
Weak US Jobs Report Cools Rate-Hike Bets and Lifts Gold Off Its Lows
American employers added only 57,000 workers in June, far below forecasts, prompting traders to scale back expectations that the Federal Reserve under its chair, Kevin Warsh, will raise interest rates this summer.
Macro
India Courts the Chinese Market Even as the West Talks of Decoupling
New Delhi's envoy pushes for greater Indian exports to China, a reminder that much of the Global South is hedging rather than choosing sides in the US-China split.
Macro
The Fight Over Chinese 'Overproduction' Divides a Rebalancing World Economy
As Washington and Beijing decouple, other economies debate whether to protect their industries from Chinese exports or to attract more Chinese investment and trade.
Macro
Weak US jobs data pulls gold off its lows and cools bets on more Fed rate hikes
June payrolls of 57,000 fell far short of forecasts, prompting investors to lower the odds of another Federal Reserve increase and to shift back toward assets such as gold.
Macro
China signals it will buy more European goods as Brussels hardens its trade stance
Beijing's commerce minister told the European Union it is open to purchase agreements to narrow a trade surplus running near 360 billion euros a year.
Macro
Japan's largest labor group secures a third straight year of wage gains above 5%
Rengo's final tally showed an average increase of 5.01 percent, but rising prices mean many workers are still falling behind once inflation is taken into account.
Macro
Europe Reaches for Growth as Berlin Passes a Reform Package and Brussels Fights Over Its Budget
Germany's coalition clears measures to lift growth while member states argue over how to fund the European Union's next long-term budget.
Macro
Venezuela's Unusual Debt Restructuring Proceeds Without the IMF
Hazy numbers and the absence of the traditional lender of last resort make for a negotiation unlike the standard sovereign workout.
Macro
Euro-Area Inflation Eased in June as the Energy Shock Receded
A cooler June reading strengthens the case for the European Central Bank to loosen policy, though the relief depends on an oil truce that is already fragile.
Macro
Europe Debates How to Turn 37 Trillion Euros in Savings Into Investment
As the bloc weighs a digital euro to cut its dependence on American payment networks, its long-delayed capital markets union remains stalled, leaving vast household savings idle.
Macro
Russia's Central Bank Signals Higher Rates as Fuel Shortages Spread
After cutting its key rate to 14.25%, the Bank of Russia warned it could tighten again, while a strained war economy shows up in fuel rationing and widening inequality.
Macro
Yen Falls to Four-Decade Low Against the Dollar as Tokyo Weighs Intervention
The Japanese currency reached about 162 per dollar as wide interest-rate gaps with the United States outweigh Tokyo's efforts to defend it.
Macro
Yen Falls to Four-Decade Low as Fed Strength Overpowers Tokyo
The Japanese currency weakened past 162 per dollar, leaving Tokyo weighing fresh intervention even after raising interest rates.
Macro
German Import Prices Surge as Energy Debate Reopens
Germany's import costs rose sharply, and the leader of a rising opposition party called for renewed purchases of Russian oil and gas.
Macro
China Squeezes Japan on Rare Earths as the European Union Sets a Trade Deadline
Beijing tightens export controls and military pressure on Tokyo while Brussels gives China until October to narrow a large goods deficit.
Macro
EU Sets October Deadline for China to Narrow Trade Gap
Brussels gave Beijing until autumn to show tangible progress on a goods deficit of about €360 billion, without imposing immediate trade measures.
Macro
US and India Say Trade Deal Is in Final Steps
Washington's ambassador in New Delhi said only the last 1% of a bilateral agreement remained, after a judicial setback briefly delayed the talks.
Macro
Russia's Fuel Crunch Forces Lower Standards and Import Talks
Gasoline shortages across much of Russia have led authorities to allow lower-grade fuel and consider imports, as Ukrainian strikes cut refining output.
Macro
A Stronger Shekel and Cooling Inflation Build the Case for an Israeli Rate Cut
Tel Aviv shares advanced and bank economists pointed to falling inflation expectations and currency strength as supports for a July reduction.
Macro
China Removes Tariffs on 53 African Countries as It Courts the Continent
Beijing positions itself as a reliable trade partner for African growth even as Western engagement narrows.
Macro
Indonesia Plans to Cut State Companies From About 1,000 to 250
President Prabowo Subianto frames a sweeping consolidation as a drive for efficiency and transparency, while promising no layoffs.
Macro
Fuel Queues Form Around Moscow as Russia's War Economy Strains
Long lines at Rosneft stations point to fuel shortages as Ukrainian strikes on refineries and energy infrastructure persist.
Macro
Indonesia Injects 400 Trillion Rupiah Into State Banks to Support Growth
Jakarta's capital injection, worth about 22 billion dollars, and its decision to delay a planned bond sale in China underscore a wider emerging-market push to stimulate credit.
Macro
A Decade of Cheap Credit Drives a Western Housing Affordability Crisis
Rents and prices rising faster than wages have provoked a global debate over whether housing is a basic right or an investment asset, with political consequences increasing.
Macro
Europe Sends First Tranche of €90 Billion Loan to Ukraine
The European Commission disbursed an initial €3.2 billion as Washington reduces its support, shifting the financial burden of the war onto Europe.
Macro
Warsh's Fed Weighs Whether AI Justifies Easier Money
The new Federal Reserve chair is drawing selective lessons from the 1990s technology boom as investors weigh hard assets against a firmer dollar.
Macro
Venezuela Prepares to Disclose Roughly $240 Billion in Debt Before a Record Restructuring
The interim government of Delcy Rodríguez will reveal liabilities far above market estimates as it seeks to bring the country back into the global financial system.
Macro
Russia Extends Fuel Rationing and Freezes a Small-Business Tax Threshold as War-Economy Strains Deepen
A southern region became the latest to limit gasoline sales while parliament moved to ease the tax burden on small firms.
Macro
India Deepens Russian Energy Ties as Trade Talks With Washington Reach a Critical Stage
New Delhi raised purchases of Russian oil and coal even as a United States trade envoy pressed for a broad tariff deal.
Macro
Kremlin Insists Russia's Economy Is Stable as Strains in the War Model Surface
Moscow points to rising non-oil revenue, while signs of domestic pressure suggest that the source of growth that funded the war is slowing.
Macro
Iran Declares Strait of Hormuz Closed and US-Iran Truce Breached After Israeli Strikes Kill at Least 16 in Lebanon
Tehran says Israeli strikes on southern Lebanon voided the 60-day roadmap and shut the waterway, but US Central Command and Iran's own foreign ministry report shipping still moving, leaving crude only modestly higher.
Macro
China Rejects Trade Criticism as Germany Pushes for Global Talks on the Yuan
Beijing denied seeking a surplus after Chancellor Friedrich Merz called the Chinese currency sharply undervalued and urged coordinated international action.
Macro
Strains Mount in Russia's War Economy as Developer Stock Sinks and Crimea Loses Power
Shares in Russia's largest homebuilder fell about 8 percent and Crimea moved to rolling power blackouts, signs of pressure beneath the war-driven growth model.
Macro
Iran Says Fear of Economic Damage Drove Trump to the Table
Tehran's media highlighted the US president's acknowledgment that a wider war risked global economic harm, presenting it as the main weakness in Washington's negotiating position.
Macro
Iran Reopens to Trade and Reviews Its Economic Rulebook After the War
The first container ship since the US blockade lifted has docked at an Iranian port, as Tehran weighs revising currency and trade rules that officials say hampered the economy.
Macro
Warsh's First Fed Meeting Signals a Possible Rate Hike, Not a Cut
The new chair removed the central bank's forward guidance and the projections shifted toward higher rates, briefly pushing stocks lower before they recovered.
Macro
Bank Indonesia Raises Rates a Third Time to Defend the Rupiah
The central bank lifted its benchmark to 5.75 percent as a firmer dollar and fears of Federal Reserve tightening pressure emerging-market currencies.