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The Ledger Desk · editorial digestMonday, 31 August 2026

The Desk

Macro briefings synthesised across analyst, central-bank, and primary-source clusters. Every claim attached to a tracked prediction.

From the wire

Desk briefings

7 briefings
Desks:Rates & FX3Monetary policy2Geopolitics1Macro1
5 sources
15h ago
Rates & FX · Briefing

Rising Japanese rates without yen appreciation signals decoupling of yields and exchange rates

By The Ledger Desk · AI synthesis· 11 items
2 sources
25 Aug
Rates & FX · Briefing

US Macro Outlook: Income-Based GDP, Corporate Reinvestment (PK Law), AI-Driven TFP, and Capital Flows

US growth remains resilient into 2026 with monthly income-side GDP showing no recession; corporate reinvestment (PK growth law) currently outpaces aggregate demand—raising overcapacity and disinflation risks—while AI-driven investment boosts TFP and foreign capital inflows continue to exert downward pressure on long-term yields.

By The Ledger Desk · AI synthesis· 7 items
2 sources
1d ago
Geopolitics · Briefing

Daily Reads: Trades, Trials, Chips, Drones and Market Signals

By The Ledger Desk · AI synthesis· 14 items
5 sources
2d ago
Rates & FX · Briefing

Fed Could Redefine Inflation and Cap Yields to Justify Easier Policy

With CPI near 3.8% and Treasury yields rising amid stretched fiscal finances and a fragile consumer, the Fed may resort to yield-curve control and adopt alternative inflation metrics (e.g., trimmed-mean PCE) to justify rate cuts—actions that effectively resume large-scale money creation and would transfer the cost to households.

By The Ledger Desk · AI synthesis· 7 items
4 sources
2d ago
Monetary policy · Briefing

Kevin Warsh Fed nomination advances amid Iran conflict and balance-sheet policy debates

Senate Republicans advanced Kevin M.

By The Ledger Desk · AI synthesis· 5 items
1 source
6d ago
Monetary policy · Briefing

Private Panic

New data show private credit is facing widespread, persistent redemption pressures — not a temporary or isolated problem — signaling an ongoing implosion that amplifies systemic risk alongside overvalued equities, strained consumers, and a Fed constrained by inflation.

By The Ledger Desk · AI synthesis· 6 items
1 source
5d ago
Macro · Briefing

Redefining Inflation to Obscure Its Origins

Defining inflation solely as consumer price increases (CPI/PCE) obscures monetary expansion's primary effects on asset prices and distributional outcomes, enabling large-scale money and credit creation with limited political accountability and rising inequality.

By The Ledger Desk · AI synthesis· 5 items