LunarWeaveOil, Missiles, And A Foldable iPhone
The US and Iran spent Wednesday turning the Gulf into a live-fire lesson in escalation. The US military destroyed five Iranian oil tankers after IRGC attacks on a US warship,…
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Research
View all research →Copper’s Record Was Already On The Books. Chile Still Runs A Deficit.
IMF annual copper was already at a record in 2025. Chile’s current account and budget were still in deficit.
Pay Raises Are Back To 2019. The Hiring Boom Is Not.
July 2026 private hourly raises were the slowest in five years, but they match 2018–19. Hiring does not: private payrolls added about 53,000 jobs a month versus 177,000 in 2015–19.
South Korea’s Chip Cycle Rebuilt The Surplus. It Did Not Rebuild Growth.
IMF accounts show South Korea’s current-account surplus back near a decade high in 2025 while real GDP grew only 1 percent — a chip-cycle surplus, not a growth boom.
