Warsh wants the Fed to talk less. Wall Street is listening even harder.
Kevin Warsh advocates for discretion at the Fed. Paradoxically, this stance itself sends a strong hawkish signal to bond markets.
Jul 2, 2026 at 10:17 8 10
Kevin Warsh softens his signal: the Fed between anti-inflation credibility and political pragmatism
After weeks of hawkish rhetoric, the *Financial Times* reveals that President Warsh is seeking to reassure markets. This shift in tone alters the geometry of the bond market for H2 2026—without constituting an official pivot.
Jun 26, 2026 at 08:37 13 13
Heinrich Vogel
Japanese Banks: The Flight from JGBs as the BOJ Withdraws
As the BOJ scales back its government bond purchases, Japanese commercial banks hesitate to step in—a strain that threatens the stability of Japan's sovereign financing.
Jun 25, 2026 at 22:34 11 9
Heinrich Vogel
ECB data-dependent, Fed's Warsh hawkish: monetary divergence becomes the theme of summer 2026
Kazimir (ECB) confirms the direction of rate cuts but conditions each step on data. Goldman anticipates a persistently restrictive Warsh Fed. The Fed/ECB divergence is emerging as the key macro theme of the summer-with direct implications for EUR/USD and peripheral bonds.
Jun 25, 2026 at 03:01 8 8
Heinrich Vogel
ECB: Kazimir confirms the downward direction, but each step remains data-dependent
Peter Kazimir reaffirms the ECB's accommodative trajectory amid contracting PMIs. The divergence between a hawkish Fed and a dovish ECB deepens - implications for the euro and European sovereign bonds.
Jun 24, 2026 at 18:35 13 12
Heinrich Vogel
Goldman Expects a Persistently Hawkish Fed with Warsh: Markets Resume Rate Pricing
Six days after his first FOMC meeting, Kevin Warsh is making his monetary mark-and Goldman Sachs is beginning to quantify the consequences for the interest rate trajectory.
Jun 23, 2026 at 21:45 6 4
Heinrich Vogel
UK PMI June at 49.4: UK shifts into composite contraction, industry hits 3-month low
The UK composite PMI falls below 50 in June 2026, with manufacturing at its lowest point in 3 months - a sign of fragility in an economy under dual pressure from interest rates and political uncertainty.
Jun 23, 2026 at 21:45 4 4
Heinrich Vogel
SpaceX loses $900 billion since its peak: debt forces transparency the stock market had not achieved
SpaceX's first bond issuance triggered a nearly $900 billion capitalization correction-markets are finally subjecting the narrative valuation to fundamental scrutiny.
Jun 23, 2026 at 21:44 11 8
Daniel Schmidt
SpaceX loses $600B in three sessions: debt forces transparency the stock market failed to secure
By publishing its results exclusively on X, SpaceX had sidestepped traditional disclosure requirements. The announcement of its first bond financing changes the game-and $600 billion in market capitalization vanished in three days.
Jun 23, 2026 at 12:40 7 5