Macro Wages Fall to 43% of U.S. Gross Domestic Income, Lowest Since 1929 U.S. wages and salaries fell to roughly 43% of gross domestic income in Q1 2026, the lowest labor share since 1929. Structural forces — automation, globalization, and capital-light tech — keep pushing the split toward capital.
Politics White House Renames Lake Ontario to ‘Lake America’ Amid Canada Trade Tensions The White House has officially renamed Lake Ontario to “Lake America” via executive order, escalating trade tensions with Canada. This move follows a similar renaming of the Gulf of Mexico and comes amidst new tariffs, impacting U.S.-Canada relations and potentially affecting various market sectors.
Politics Florida Becomes First State to Block Welfare Cash on Tattoos, Vapes, Theme Parks Florida is the first state to bar TANF cash-assistance spending on tattoos, theme park tickets, video games, vapes and other non-essential items, with the Trump administration urging other states to adopt the same framework.
Politics U.S. to Revoke Up to 200,000 Business and Tourism Visas in Largest Purge Ever The State Department is preparing to revoke up to 200,000 business and tourism visas tied to asylum seekers, in what AP calls the largest mass visa revocation in U.S. history.
Macro Canada Braces for Long Trade War, Sees No US Talks Before Midterms Canada sees little chance of resuming trade talks with the US before the midterms and is preparing domestic aid to ride out Trump’s term after negotiations collapsed.
Politics Trump Administration Pauses All US Immigrant Visa Applications Worldwide The Trump administration has paused all US immigrant visa applications worldwide, citing consular officer retraining and tighter public charge screening. Interviews have been postponed globally.
Macro Treasury may tap $1T cash account to fund bond buybacks: CNBC The Treasury is weighing whether to tap its roughly $1 trillion General Account to fund expanded bond buybacks, per CNBC, with 10- and 30-year yields easing on the report.
Macro Canada to Match US Tariffs Dollar-for-Dollar as Talks Collapse Canada will match Trump's new 50% tariffs on $20B of Canadian goods dollar-for-dollar starting Sept. 8, targeting US steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.
Markets Congress Worsens US Fiscal Trajectory as Debt Surpasses $40 Trillion America's fiscal health continues to deteriorate, with national debt now over $40 trillion. Bloomberg reports that current congressional actions are exacerbating the problem, pushing the US towards an unsustainable debt path.
Macro Carney Says Canada Is ‘At War’ With US Over Trade as 50% Tariffs Hit Canadian PM Mark Carney says Canada is ‘at war’ with the US on trade after Trump slapped 50% tariffs on $20B of goods. Ottawa’s retaliation on steel, dairy and electronics hits Sept. 8.
Macro Trump on bond yields creeping back up: ‘The ultimate intervention is our military’ Asked why 30-year yields keep climbing back up despite Bessent’s buyback move, Trump said the ‘ultimate intervention is our military.’ Here is what traders should actually watch.
Politics DOJ opens path for felons to apply to restore federal gun rights AG Todd Blanche finalized a DOJ rule opening a pathway for certain nonviolent felons to apply to restore their federal gun rights, with an estimated 330,000 applications expected in year one.
AI West Virginia bets on data centers to kill its income tax West Virginia Gov. Patrick Morrisey unveiled a 20-year plan to route 50% of hyperscale data center revenue into reducing and eventually eliminating the state income tax.
Markets FDA Recalls Grand Central Bakery Bread at Whole Foods, Fred Meyer Over Metal The FDA has recalled Grand Central Bakery Potato Sourdough bread sold at Whole Foods, Fred Meyer, QFC, PCC and other Seattle-area grocers after a pallet nail was found in a loaf.
Macro Bessent: US Can Grow Its Way Out of $40 Trillion Debt Pile Treasury Secretary Scott Bessent says the US can grow its way out of its $40 trillion debt pile, while VP Vance teases a ‘discreet’ plan that includes a sovereign wealth fund.
Geopolitics USS Abraham Lincoln heads home after 9-month Middle East run The USS Abraham Lincoln is heading back to San Diego after a nine-month Middle East deployment tied to the Iran war. The USS George Washington has taken over, with defense contractors in focus.
Macro Bessent: US Doesn't Need as Many Jobs After Deportations, Border Closure Treasury Secretary Scott Bessent told CNBC the US doesn't need to produce as many jobs after deportations and the border closure, brushing off a 23,000 job loss in July as noisy data.
Tech ‘De-Flock America’: Halloween Push to Vandalize Flock Cameras Goes Viral A viral ‘De-Flock America’ campaign is urging people to disable or destroy Flock Safety license-plate cameras on Halloween night, adding to mounting backlash against the $7.5B surveillance startup.
Politics Ex-Fauci Adviser Morens Pleads Guilty to Concealing COVID Records Former Fauci adviser Dr. David Morens pleaded guilty to conspiring to conceal COVID-19 research records. He faces up to five years in prison, with sentencing set for Nov. 12.
Macro Treasury Doubles Long-End Buybacks as 30Y Yield Hits 19-Year High Treasury is at least doubling long-end buyback operations to $4B per op from September 9 through November 4, after the 30-year yield hit a 19-year high of 5.34%.
Politics Michigan to Drop First-Semester Freshman Grades Starting Fall 2027 The University of Michigan will replace first-semester freshman letter grades with pass/no credit starting fall 2027, citing a student mental health crisis. The pilot covers all incoming LSA students.
Crypto Trump Floats Sizable US Bitcoin Purchase, BTC Reclaims $70K Trump says the US is considering a sizable Bitcoin purchase. BTC reclaimed $70K, over $1B in shorts got liquidated, and spot ETFs saw nearly $500M in two-day inflows.
Markets Trump Moves to Open 45M Acres of National Forest to Logging, Roads The Trump administration proposed rescinding the 2001 Roadless Rule, opening nearly 45 million acres of national forest to roads, logging, and extractive activity across 37 states. Timber names in focus.
Macro UK primary schools to flag children at risk of future unemployment A UK government review led by Alan Milburn is set to recommend that primary schools identify children at risk of becoming NEET, as youth worklessness tops 1 million and costs the UK an estimated £125bn a year.
Politics UC Professors Push to Bring Back SAT as Students Struggle With Basic Math More than 3,000 University of California professors are calling for the SAT and ACT to be reinstated in admissions, arguing incoming STEM students cannot handle high school math. The regents may act as soon as 2028.
