FRIDAY, 9 OCTOBER 2026
EUR/USD
1.1186
▲ 0.08%EUR/GBP
0.846980
▲ 0.06%EUR/JPY
177.05
▲ 0.11%EUR/CHF
0.932600
▲ 0.18%EUR/CNY
7.4972
▲ 0.05%EUR/CAD
1.5953
▲ 0.14%Source: ECB · Indicative rates, not financial advice.
Current affairs, macroeconomics and monetary policy.
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Four steps in order, from theory to practice: the fastest way to build solid foundations before investing your first euro.
Xi Jinping meets Donald Trump at the White House on September 24, 2026, with the trade truce already extended from November 10 to January 10. On the table are rare earths, chips, agricultural purchases, and trade that has shrunk by a third in two years. According to Bloomberg Intelligence, the summit is reducing the geopolitical discount on Chinese credit: verifiable data shows spreads already at lows before the visit and no effect attributable to the summit.
The Federal Reserve raised rates by 25 basis points on September 16, 2026, bringing the target range to 3.75-4.00%: it is the first hike since July 2023 and concludes the longest monetary policy pause since 2008. The decision, taken unanimously (12-0), is accompanied by revised upward projections: the FOMC median indicates another hike by year-end. The Dow Jones lost 1.21%, the S&P 500 0.45%, while the Nasdaq closed unchanged. “Higher for longer” is officially back.
Moonshot AI confidentially filed for listing in Hong Kong on September 3, 2026 to raise 3 billion dollars, with a private valuation of 50 billion; Yunxi Technology aims for «several hundred million» with a valuation of 1.27 billion. The Hong Kong Stock Exchange raised 328.2 billion Hong Kong dollars in seven months, but the general index has been flat since the beginning of the year: money has not returned to the market, it has gone to a few names.
Inflation is the only cost nobody tells you about. In June 2026 ISTAT recorded +3.0% year on year in Italy, but +3.7% for households with low spending levels. How the basket works, what the difference is between NIC, FOI and IPCA, how much the erosion of purchasing power really weighs, and the comparison — with ABI and MEF data in hand — between the current account, fixed-term deposits and the BTP Italia Sì.
Start here →Diversification is finance's only “free lunch”: it eliminates specific risk without asking for expected return in exchange. But it has precise rules and limits. In the twelve months ended 28 July 2026 an MSCI World ETF returned 17.87% while staying 2% from its high, whereas Microsoft was 29% below its own. Here is how the mechanism works, how many stocks are needed and where diversification stops protecting.
Go to step →As of 30 April 2026, Italian families held 1.163 billion euros idle in current accounts, which in four years lost 11.6% of their purchasing power: approximately 135 billion. It’s the same mechanism that grows savings, read in reverse. What is compound interest, how precise is the rule of 72, why someone starting at 35 must double their contributions to match someone who started at 25, and how much inflation (3.0% in June 2026), costs, and 26% taxation truly subtract.
Go to step →At the end of June 2026, ETFs worldwide managed 23,090 billion dollars, 16.3% more than at the end of 2025; in Italy, the ETFplus market rose to 221.6 billion euros. Complete guide: how they work, how much they really cost, what SPIVA data says about active funds, how they are taxed in Italy, and which versions to avoid.
Go to step →Current affairs, macroeconomics and monetary policy.
Equities, bonds, currencies and commodities.
In-depth research and independent analysis.
On September 10, 2026, the ECB raised its three key interest rates by 25 basis points: deposit facility at 2.50%, main refinancing operations at 2.65%, marginal lending facility at 2.90% from September 16. This is the second hike in three months, decided as August inflation rises to 3.3% due to energy (+14.3%) but core inflation falls to 2.4%. Projections bring 2027 to 2.5%. The 10-year Bund rises to 3.51%, a high since 2011: markets price in further hikes, economists none.
On September 2, 2026, the ten-year Bund hit a fifteen-year high and the Japanese ten-year bond closed at 3.006%, above 3% for the first time since 1996. The ten-year Treasury is at 4.79%, the thirty-year gilt at 5.919%. The immediate cause is oil returning to 96 dollars with the war between the United States and Iran, but the barrel remains 42 dollars below its April peak: the European Central Bank, the Fed, and the Bank of Japan, all meeting between September 10 and 18, are truly weighing.
Leonardo Maria Del Vecchio left the presidency of Ray-Ban and the strategic direction of EssilorLuxottica on August 25, 2026, effective from the 31st. The letter to the board speaks of a "distant" and "impersonal" management, but the core issue is financial: the 10 billion plan to increase his stake in Delfin to 37.5% has been stalled since June, and the holding company's portfolio has dropped from 55.1 to 41.6 billion while the agreed price remained fixed.
Four steps in order, from theory to practice: the fastest way to build solid foundations before investing your first euro.
Inflation is the only cost nobody tells you about. In June 2026 ISTAT recorded +3.0% year on year in Italy, but +3.7% for households with low spending levels. How the basket works, what the difference is between NIC, FOI and IPCA, how much the erosion of purchasing power really weighs, and the comparison — with ABI and MEF data in hand — between the current account, fixed-term deposits and the BTP Italia Sì.
Start here →Diversification is finance's only “free lunch”: it eliminates specific risk without asking for expected return in exchange. But it has precise rules and limits. In the twelve months ended 28 July 2026 an MSCI World ETF returned 17.87% while staying 2% from its high, whereas Microsoft was 29% below its own. Here is how the mechanism works, how many stocks are needed and where diversification stops protecting.
As of 30 April 2026, Italian families held 1.163 billion euros idle in current accounts, which in four years lost 11.6% of their purchasing power: approximately 135 billion. It’s the same mechanism that grows savings, read in reverse. What is compound interest, how precise is the rule of 72, why someone starting at 35 must double their contributions to match someone who started at 25, and how much inflation (3.0% in June 2026), costs, and 26% taxation truly subtract.
At the end of June 2026, ETFs worldwide managed 23,090 billion dollars, 16.3% more than at the end of 2025; in Italy, the ETFplus market rose to 221.6 billion euros. Complete guide: how they work, how much they really cost, what SPIVA data says about active funds, how they are taxed in Italy, and which versions to avoid.
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