Economy
Global economic calendar: August 20, 2026 — earnings, inflation and central bank updates
AEGON, Alibaba and Walmart among companies reporting quarterly results; Germany releases producer prices and trade data alongside Sweden’s Riksbank rate decision.
Germany’s August PMI shows manufacturing rebound, services slowdown
Flash PMI data points to a two-month low for the composite index at 51.0, with manufacturing output surging to a 51-month high of 54.1, while services activity contracted for a fifth straight month.
Swiss poll shows 12-point lead for rejection of neutrality initiative
Survey by gfs.bern for SRG finds 54% opposed to neutrality proposal, with strongest support from SVP voters. Regional and demographic divides highlighted.
South Korea to launch $72 bln chip windfall fund for youth, AI
Government proposes Future Response Fund to channel semiconductor tax revenue into youth employment, housing and AI investment. Legislation to be submitted with 2027 budget.
Japan's core inflation steady at 1.8% in July, BOJ rate hike odds rise
Consumer prices rose 1.8% year-on-year, matching forecasts, while service inflation edged up.
China holds benchmark lending rates steady for 15th month in August
The People's Bank of China kept the one-year and five-year loan prime rates unchanged at 3.00% and 3.50%, respectively, as policymakers prioritize fiscal support over further monetary easing amid weak July economic data.
Global bond yields surge to multi-decade highs on US turmoil
US long-term borrowing costs hit 2007 highs, dragging G7 yields higher amid Iran war, inflation fears and political uncertainty. Central bank responses remain uncertain.
Mexico’s central bank holds rates at 6.5% amid inflation concerns
Banxico signals prolonged pause as services inflation remains sticky, while peso gains 6% in 2026.
China holds loan prime rates steady for 15th month in August
The People's Bank of China kept the one-year and five-year loan prime rates at 3.00% and 3.50%, respectively, as weak domestic demand and banking sector constraints limited policy options.
U.S. 30-year Treasury yield jumps 5.4 bps after debt buyback plan
Long-dated U.S. bond yields rose after the Treasury announced a larger debt buyback program, while global stocks edged higher following four straight sessions of declines.
U.S. Treasury may expand bond buyback program beyond $4 bln per issue
Secretary Bessent signals potential increase in Treasury bond repurchases to stabilize markets and address yield distortions. Update follows surprise doubling of buyback size announced Wednesday.
Swiss borrowers overpay by CHF 18,000/year on long-term mortgages
Households refinancing into decade-long fixed-rate loans during 2023’s brief high-rate window now face annual overpayments of up to CHF 18,000 versus Saron-linked or short-term options, data shows.
U.S. debt surpasses $40 trillion for first time
Total public debt hits $40.047 trillion as Treasury ramps up long-dated bond buybacks to ease yields amid rising term premiums.
U.S. Treasury doubles long-dated bond buybacks after yield surge
Long-dated U.S. Treasury yields fell 10 bps after the government doubled planned bond buybacks. Stocks rose, gold and bitcoin gained, while the dollar weakened sharply against the Swiss franc.
Fed minutes show growing inflation worries at July meeting
Minutes from the July 28-29 Federal Reserve meeting reveal increased concerns over broad-based price pressures, with three policymakers dissenting in favor of a rate hike. The benchmark rate remained at 3.50%-3.75%.
Latin America growth seen slowing to 2.2% in 2026: UN agency
ECLAC revises down 2026 GDP forecast to 2.2% from 2.3%, citing a more challenging global backdrop. Region expected to log five straight years of ~2.3% average expansion by 2027.
Extreme weather costs Europe billions as droughts and heatwaves strain economies
Record temperatures and low water levels disrupt shipping, power generation and agriculture, with Allianz estimating a 0.3 percentage point hit to euro zone GDP this year. Southern Europe faces prolonged growth losses and fiscal strain.
U.S. accused of interest-rate manipulation after doubling bond buybacks
Criticism of the Swiss National Bank’s currency interventions highlights parallels with Washington’s bond-market interventions, which similarly distort market pricing. Analysis of policy overlap and unintended consequences.
IMF hails Lebanon bank law changes as ‘major step’ amid crisis
Parliament passes amendments to bank resolution framework, meeting 99% of IMF demands, but president’s approval and Constitutional Council review still pending.
G7 government debt pressures mount as borrowing costs surge
U.S. debt tops $40 trillion while Japanese and German yields hit multi-decade highs. OECD interest payments overtake defense spending.
China set to hold loan prime rates steady in August amid weak economy
All 25 surveyed banks expect the one-year and five-year loan prime rates to remain at 3.00% and 3.50%, respectively, as policymakers prioritize fiscal measures over monetary easing.
RBA signals potential rate hike as inflation risks rise
Reserve Bank of Australia holds rates steady but warns of further tightening if upside inflation risks materialize, citing Middle East tensions and AI-driven demand.
Euro zone bond yields surge to two-decade highs amid debt concerns
German 10-year yield hits 15-year peak as France and Italy follow; ECB tightening bets rise to 45 bps. Oil climbs above $92 a barrel on geopolitical risks.
UK to auction £4bn of 2033 gilts in August 2026
The UK Debt Management Office plans to sell £4 billion of 4.125% Treasury gilts maturing in March 2033, with bidding open via the Bloomberg system next month.
Dollar, euro lose nearly half their purchasing power since 2000
U.S. dollar and euro purchasing power halved over 25 years, while Swiss franc held value better amid divergent central bank policies. Inflation trends and wage dynamics compared.