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United States
ADP private payrolls growth slowed, adding 38,000 jobs in August and trailing expectations.
Gains were driven entirely by service sectors—led by education and health services—while goods-producing industries shed workers.
Canada
The Bank of Canada held its policy rate at 2.25% for a seventh meeting, but adopted a more hawkish stance as energy-price risks and trade tensions raise inflation concerns.
Euro Area
Political fragility is rising again across much of Europe.
Europe
Switzerland’s inflation accelerated and topped expectations, as higher energy costs and a weaker franc lifted import prices.
Japan
The yen rebounded sharply as traders priced in potential BOJ tightening and renewed intervention risk.
Equities
The technology sector is now more capital-intensive than the mining sector.
Rates
The front end of the inflation swap curve has rebounded sharply.
Rates
However, that pales in comparison to the surge in the EUR inflation swap rate.
Macro digests move fast. The useful filter is separating AI narratives that rhyme with past bubbles from the few platforms that can still compound after the cycle turns.
https://paretoinvestor.substack.com/p/how-the-ai-bubble-compares-to-history