Macro
U.S. to transfer $725 million to UN amid $4 billion debt dispute
Payment covers less than 20% of Washington’s U.N. arrears, easing immediate liquidity pressure but leaving long-term obligations unresolved. Trump administration notifies Congress ahead of UNGA speech.
Eurozone consumer confidence improves unexpectedly in August
Eurozone consumer sentiment rose 0.4 points to -15.5 in August, defying forecasts for a slight decline to -16.0, as EU data shows gradual recovery from March-April lows.
UK economy grows 0.4% in Q2 as Burnham prepares first budget
Growth exceeded expectations in the second quarter, led by services and AI-related sectors, ahead of Finance Minister John Healey’s October budget. Retail sales and consumer confidence also improved.
Euro zone consumer confidence rises to -15.5 in August: EC
Consumer morale improved slightly in August, exceeding expectations despite ongoing economic uncertainty. The flash estimate from the European Commission shows a marginal uptick from July's reading.
Canada retail sales drop 0.8% in July after six-month rise
July decline ends streak of six consecutive monthly gains as gasoline prices ease and core retail sales moderate. Total sales dip to $73.7 billion.
U.S. services PMI hits 20-month high as economy accelerates to 3% growth pace
S&P Global’s August survey shows the fastest services expansion since late 2024, while manufacturing activity slows to a five-month low amid supply disruptions tied to regional conflict.
Ethiopia’s creditors back $1 bln bond deal, easing default exit
Official creditor committee approves preliminary Eurobond restructuring agreement, paving way for Ethiopia to emerge from default. Deal includes comparability clause and potential 'New Money Warrant' dispute.
China to tighten outbound investment rules with expanded scope
Draft revisions by the NDRC aim to enhance investor protections and reporting for cross-border deals amid rising geopolitical risks. Public feedback sought until Sept. 20.
U.S. 30-year Treasury yield hits 15-year high as bond selloff deepens
Yields surge past 5.3% amid rising debt costs and geopolitical risks; Treasury to expand buyback operations to $4 billion per auction.
U.S. national debt surpasses $40 trillion for first time
Total public debt reaches $40.047 trillion as borrowing accelerates under Trump and Biden administrations amid rising deficits and Treasury bond yields.
U.S. judge blocks visa suspension for applicants from 75 countries
Federal judge rules State Department exceeded authority in barring immigrant visas based on nationality. Policy covered Latin America, Africa and parts of Asia.
German business activity expands modestly in August, PMI shows
Manufacturing rebound offsets services slowdown as composite PMI falls to 51.0, remaining above the growth threshold. Economists had expected no change from July.
UK retail sales fall 0.5% in July after World Cup-driven June surge
Clothing and footwear led the decline as summer sales pulled forward demand, while annual growth slowed to 1.6%. GfK confidence hit a two-year high in August.
China to bolster slowing economy with further fiscal measures
Vice Finance Minister Liao Min outlines plans to accelerate budgeted infrastructure spending and deepen tax reforms. Central bank maintains accommodative stance without signaling rate cuts.
Global economic calendar for Aug 21, 2026: PMI, retail sales and business surveys
Key economic releases include S&P Global PMIs for the euro zone, U.S. and U.K., plus German retail sales and French business sentiment. Borussia Dortmund reports preliminary FY25/26 figures.
Philadelphia Fed Manufacturing Index jumps to 47.4 in August, far above forecast
U.S. factory activity growth surged in August, with the Philadelphia Fed’s gauge rising to 47.4 from 41.4 the prior month, handily beating expectations of 24.1. The rebound signals resilient manufacturing momentum amid broader economic expansion.
UK services PMI rises to six-month high in August, composite index beats forecasts
S&P Global’s flash PMI data show the UK services sector expanded at the fastest pace since February, while manufacturing cooled to a five-month low. Composite reading signals 0.3% quarterly GDP growth.
Argentina’s economic activity rises 2.7% in June, outpacing forecasts
June’s 2.7% year-on-year expansion exceeded market expectations of 1.9%, reversing May’s 0.4% gain as Latin America’s third-largest economy shows tentative recovery signs.
Brazil to keep fiscal framework if Lula wins second term
Finance Minister Dario Durigan says spending controls and revenue recovery will continue under current framework if President Lula da Silva secures reelection in October. Central bank holds rates at 14%.
U.S. national debt tops $40 trillion as servicing costs near $1.4 trillion
Crossing the $40 trillion mark, the U.S. faces rising debt servicing expenses and elevated Treasury yields, with projections pointing to $50 trillion by 2029. Market intervention has done little to curb structural pressures.
Trump denies directing bond market intervention
The former president stated he did not instruct an aide to influence U.S. Treasury yields.
UK factory orders hit highest since Nov 2024 in August CBI survey
Manufacturing activity gauge rose to -25 from -45 in July, the sharpest improvement in over five years. Export orders turned positive for first time since mid-2022.
Senate Democrats demand answers from USDA over data errors, staff cuts
Six Senate Democrats, led by Amy Klobuchar, question the USDA about revisions to beef export sales and corn acreage data, citing staff losses and potential market impacts.
UK consumer confidence hits two-year high in August: GfK
GfK’s index rose to -14 from -17 in July, beating economist forecasts of -18. All but one sub-index improved, with major purchase sentiment at its highest since late 2021.