What CoinShares Crypto Fund Flow Data Really Measures
The weekly digital-asset fund-flow series is widely quoted and routinely misread. Sector AuM fell US$19bn in three weeks of 2026 while ne...
· 6 min read
Markets | LedgerTouch Intelligence
Energy Transition Metrics That Move Asset Prices
Battery capacity above 4 TWh, 1.7 mb/d of displaced oil, 7 million charge points. Three of the transition's headline metrics never reach ...
· 6 min read
Eurozone Inflation Reaccelerated and the ECB Hiked
Euro area HICP went from 1.9% in February 2026 to 3.2% in May, then 2.8% in June and 2.9% on the July flash. Energy contributed 128 of th...
· 6 min read
How Much Gold? The 5-10% Case and Its 45-Year Problem
The research most often cited for a 5-10% gold weight tests 2.5% to 10%, over the 20 years from 2005. Widen the window and you find a 45-...
· 8 min read
The Yield Curve in 2026: Bear Flattening, Then Steepening
The 2s10s spread closed at +45bp on 30 July 2026. It flattened 44bp into June and steepened 15bp in July — and in both legs every maturit...
· 6 min read
China Export Disinflation: The Data Behind the Thesis
US import prices from China fell 1.41% year on year in March 2026 while overall import prices rose 2.26%. Tariffs did not close the chann...
· 5 min read
Brent Hit $138 and Fell Back. The Fed Held at 3.50-3.75%.
The OECD raised its 2026 US inflation forecast to 4.2% on an oil shock. Brent fell from $138.21 to $69.56 by 6 July 2026 and was back at ...
· 4 min read
Warsh's Fed and What Ending the Dot Plot Would Cost
Kevin Warsh was confirmed 54-45 on 13 May 2026. The dot plot he may end already spans 100 basis points. Here is what its removal does to ...
· 5 min read
Yen Intervention: 11.7 Trillion Yen, No Lasting Effect
Tokyo's first yen-buying intervention since 2024 moved USD/JPY 2.2% on 30 April 2026. Five weeks later the move was gone. A BoJ hike did ...
· 4 min read
Jobs Report: Unemployment Fell as 396,000 Left Work
US unemployment fell to 4.3% in March 2026 — but the labour force shrank by 396,000 and wage growth hit a five-year low of 3.5%. The sign...
· 4 min read
Gold Demand Hit 5,002t in 2025. Jewellery Fell 18%.
Total gold demand set a record at 5,002.3 tonnes in 2025 — up just 1%. Jewellery fell 18%, ETFs swung 804 tonnes, and central banks slowe...
· 4 min read
EV Sales Top 20 Million: China Took 6 in Every 10
The IEA's Global EV Outlook 2026 puts 2025 electric car sales above 20 million, a quarter of all new cars. China sold more than 13 millio...
· 5 min read
Global Debt at 93.9% of GDP: a 117% Tail for 2028
The IMF's April 2026 Fiscal Monitor puts global public debt at 93.9% of GDP, reaching 100% by 2029. The baseline is not the interesting n...
· 5 min read
High-Yield Spreads at 2.84% While the CCC Tail Gaps
The ICE BofA high-yield index spread closed at 2.84% on 30 July 2026, off its June tight. Underneath, the gap between CCC and BB spreads ...
· 5 min read
IMF 3.0%, World Bank 2.5%: Mostly an Arithmetic Gap
The IMF sees 3.0% global growth in 2026 and the World Bank 2.5%. Read like for like, the two institutions are 0.1 percentage points apart...
· 5 min read
Real Yields at 2.41%: Every Basis Point Was Real
The 10-year TIPS yield closed at 2.41% on 30 July 2026 and touched 2.44% three days earlier, its highest since October 2023. Almost the e...
· 5 min read