TUESDAY, 25 AUGUST 2026
EUR/USD
1.1664
▼ 0.30%EUR/GBP
0.855500
▼ 0.14%EUR/JPY
185.60
▼ 0.03%EUR/CHF
0.936200
▲ 0.10%EUR/CNY
7.8414
▼ 0.27%EUR/CAD
1.6154
▲ 0.50%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.
On August 18, 2026, US federal debt exceeded $40 trillion for the first time, and on the same day, the 30-year Treasury yield reached 5.31%: the highest since 2007. These are not two separate news items, but the same event viewed from two sides. The Treasury pays an average of 3.447% on debt that the market currently prices up to 5.27%, and one-third of negotiable securities must be refinanced within twelve months.
A central bank moves just one number, and within minutes, bond markets halfway across the world and currency prices move. This guide reconstructs the chain one link at a time — official rate, credit, demand, prices, yields, differentials, capital flows — with real examples from Federal Reserve, BCE and Bank of Japan. And it shows, with data, where the rule stops working.
Anthropic filed its confidential prospectus with the SEC on 1° giugno 2026, and investor models are working on a 2.000 billion valuation. The internal forecast of 190-200 billion in revenues by 2028, revealed by Reuters, makes that price seem like a multiple of 10 times. On today's 47 billion annualized, however, it's 42,6 times: exactly what SpaceX and Cloudflare pay. The first operating profit is 559 million; sixty times that much would be needed.
Current affairs, macroeconomics and monetary policy.
In-depth research and independent analysis.
On Monday, August 17, 2026, the dollar fell to its lowest level since early June against major currencies, after three weaker-than-expected US data points pushed back the prospect of a Federal Reserve rate hike. Against the yen, however, it remains at 159: of the 7.23 yen recovered with the late July joint intervention, 2.55 have already been given back. Because the yield differential matters more than an intervention on the exchange rate.
On August 12, 2026, the United States, Germany, and Italy published July inflation figures: 3.4%, 2.8%, and 2.9%. Three almost identical numbers stemming from the same energy shock — Brent went from 62 to 138 dollars and is now trading at 93 — but describing very different economies. GDP, employment, wages, and markets verified against primary sources, and what truly changes for the Fed's and ECB's September decisions.
Retail sales in the Eurozone increased by 0.5% in July 2026 on a monthly basis, according to Eurostat data published on Friday, August 7, exceeding expectations but contrasting with consumer confidence that remains subdued.
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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