Back to Front Page7 AugustCommoditiesA payrolls miss is driving gold higher, but the spec long is shrinking
Hawk Thorne Research1 AugustPolandWarsaw's banks shrug off a CPI rebound that argues against further NBP cuts
Hawk Thorne Research23 JulyMacro & PolicyA $125.9bn issuance wave hits the tape before the 10-year auction even clears
Hawk Thorne Research17 JulyMacro & PolicyDisinflation loses the vote to fiscal supply and a fresh WTI high
Hawk Thorne Research16 JulyPolandPoland hits its inflation target just as pump prices erase the win
Hawk Thorne Research15 JulyMacro & PolicySoft PPI and a China growth miss outvote a US strike on Iran
Hawk Thorne Research14 JulyCommoditiesSilver's 3.41% jump outpaces oil, handing Iran's risk premium to metals
Hawk Thorne Research14 JulyMacro & PolicyA cooler CPI print outlasts a live Hormuz blockade, but bonds aren't cheering
Hawk Thorne Research14 JulyFX & RatesDollar shorts unwind even as short-end yields hit a 17-month high
Hawk Thorne Research14 JulyEquitiesIBM's 17% drop tests whether earnings misses are broadening past one stock
Hawk Thorne Research14 JulyMacro & PolicyA 3.8% CPI forecast collides with a bond market already betting against it
Hawk Thorne Research13 JulyMacro & PolicyOil's Iran shock meets a labor slump ahead of the CPI print
Hawk Thorne Research13 JulyMacro & PolicyCrude's five-day bounce puts a hole in the CPI disinflation story
Hawk Thorne Research10 JulyMacro & PolicyJapan's PPI hits a 2026 high, but the tape isn't pricing it yet
Hawk Thorne Research10 JulyMacro & PolicyA $134.2 billion Treasury drawdown is doing what soft housing data cannot
Hawk Thorne Research9 JulyMacro & PolicyGold's rebound puts the Fed's hawkish minutes read back in question
Hawk Thorne Research9 JulyFX & RatesHawkish Fed minutes can't lift the Dollar Index off 100.90
Hawk Thorne Research8 JulyMacro & PolicyGold's slide tests the rate-cut story the desk has doubted since 3 July
Hawk Thorne Research6 JulyMacro & PolicyA soft-patch in growth data is building while the market keeps pricing only liquidity
Hawk Thorne Research6 JulyMacro & PolicyGold's rally is no longer alone, but the bond market still won't sign off on it
Hawk Thorne Research5 JulyMacro & PolicyGold is pricing Fed cuts that the bond market has not yet agreed to
Hawk Thorne Research5 JulyMacro & PolicyThe supply tsunami is here, but the bond market isn't punishing it, and that's the real signal
Hawk Thorne Research4 JulyMacro & PolicyThe Fed cannot cut on a jobless rate that fell because workers gave up looking
Hawk Thorne Research3 JulyMacro & PolicyThe regime downgrade the desk was waiting for just landed, and it argues for less conviction, not more
Hawk Thorne Research2 JulyMacro & PolicyA 57,000 payroll miss just handed the supply-tsunami thesis its first real test, and it's failing on cue
Hawk Thorne Research2 JulyMacro & PolicyThe liquidity story just flipped, and risk assets haven't noticed yet
Hawk Thorne Research1 JulyFX & RatesEuro shorts build even as the front end of the Treasury curve stops betting on higher yields
Hawk Thorne Research1 JulyMacro & PolicyLiquidity is papering over a manufacturing slowdown that spans two continents
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