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Canada's Tariff List: 629 Products. September 8. No Talks.

Aug 30, 2026

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5 min read

Canada's Tariff List: 629 Products. September 8. No Talks.

Core PCE at 3.3%. The S&P at 7,799. Zero rate guidance from the new Fed Chair. Markets are pricing in a clean resolution. The consumer data is not.

Three Things Markets Didn't Price Thursday.

Aug 28, 2026

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4 min read

Three Things Markets Didn't Price Thursday.

Canada's counter-tariff list hits 700 US products on September 8. Ottawa designed it to target the congressional districts that would need to vote for any rollback.

Your Bank's 40-Year Earnings High. Read the Footnote.

Aug 27, 2026

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6 min read

Your Bank's 40-Year Earnings High. Read the Footnote.

FDIC Q2: best return on assets since 1984. Same report, different chart: unrealized losses rising for two straight quarters. Almost no one reads that line.

NAFTA Took 30 Years to Build. The Tariff Has a Date.

Aug 25, 2026

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5 min read

NAFTA Took 30 Years to Build. The Tariff Has a Date.

January 1, 2027: 50% on all Canadian autos, parts, and steel. GM, Ford, and Stellantis each build vehicles in Ontario. Neither reshoring nor margin absorption happens in 16 months.

This Statute Hadn't Been Used Since 1930. It Just Was.

Aug 24, 2026

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5 min read

This Statute Hadn't Been Used Since 1930. It Just Was.

Section 338 took effect Saturday on $20 billion in Canadian trade. Ottawa retaliates September 8. First uses of 96-year-old statutes rarely stay contained.

Three Bond Signals From This Week That Landed Quietly.

Aug 23, 2026

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4 min read

Three Bond Signals From This Week That Landed Quietly.

$40 trillion in debt. A buyback that failed after one session. A 30-year yield near a 19-year high. They are not separate problems.

Manufacturing High, Consumers Cracking. The 1979 Playbook.

Aug 21, 2026

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5 min read

Manufacturing High, Consumers Cracking. The 1979 Playbook.

The last time factories ran this hot while households pulled back, the Fed tightened to fight supply-side inflation and broke the demand side. Three FOMC members are already voting for a hike.

Doubled the Buyback. Didn't Fix What's Driving Yields.

Aug 20, 2026

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4 min read

Doubled the Buyback. Didn't Fix What's Driving Yields.

Deficits are widening. Annual interest costs top $1 trillion. The Treasury addressed the speed of the selloff — not the trajectory behind it.

The edge is information.

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Canada's Tariff List: 629 Products. September 8. No Talks.

Three Things Markets Didn't Price Thursday.

Your Bank's 40-Year Earnings High. Read the Footnote.

NAFTA Took 30 Years to Build. The Tariff Has a Date.

This Statute Hadn't Been Used Since 1930. It Just Was.

Three Bond Signals From This Week That Landed Quietly.

Manufacturing High, Consumers Cracking. The 1979 Playbook.

Doubled the Buyback. Didn't Fix What's Driving Yields.

The edge is information.

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