Where markets were leaning on 2026-08-17
The net read we published that day, kept as a dated record. For where markets are leaning right now, see today's outlook.
Emerging Markets
The gist: Emerging markets are showing a fragmented direction, with momentum leaning higher in AI-related hardware, semiconductor materials, and specific labor markets like India. However, this is being countered by significant downward pressure from China's contracting real estate sector and escalating infectious disease risks in the DRC, leading to a cautious or sideways outlook for broader trade, travel, and…
Updated 2026-08-17 23:44 UTC · sign up for the full net read + the markets you follow
Rates Bonds
The gist: The rates and bonds market is leaning lower on US interest rate expectations due to easing inflation and weaker retail sales, though long-end yields face upward pressure from fiscal concerns. While global growth prospects appear fragile—evidenced by disappointing Japanese GDP and rising real estate sensitivity—APAC bond market demand shows strength through record-high "kangaroo" bond sales.
Updated 2026-08-17 23:44 UTC · sign up for the full net read + the markets you follow
Crypto
The gist: The crypto market is leaning higher, driven by significant, out-of-range volatility in Bitcoin (BTC-USD) which saw a +2.4% move on 2026-08-17. While the broad market shows upward momentum, the overall landscape remains mixed with sideways movement in altcoin market capitalizations and high fragility in certain segments due to technical divergence and regulatory shifts.
Updated 2026-08-17 23:43 UTC · sign up for the full net read + the markets you follow
Fx
The gist: The US Dollar is leaning lower against major peers, Asian currencies, and emerging market trade corridors. This downward pressure is being driven by a combination of geopolitical shifts impacting the USD's safety status, the adoption of the Chinese yuan in African trade, and significant capital outflows in specific emerging markets.
Updated 2026-08-17 23:30 UTC · sign up for the full net read + the markets you follow
Commodities
The gist: The commodities market is leaning higher, driven by geopolitical risk premiums in energy and gold, alongside robust demand for industrial metals and critical minerals. While Chinese macro indicators suggest a slowdown in labor and retail stability, this is being offset by rising oil prices, record-level demand projections for electrification materials in India, and significant price appreciation in metals…
Updated 2026-08-17 23:30 UTC · sign up for the full net read + the markets you follow
Us Equities
The gist: The outlook for US equities is leaning lower as broad indices face a confluence of macro headwinds, including a weakening labor market, geopolitical friction regarding Iran's nuclear program, and rising Brent crude prices.
Updated 2026-08-17 23:29 UTC · sign up for the full net read + the markets you follow
Global Macro
The gist: The global macro outlook leans lower as persistent inflationary pressures, high borrowing costs, and declining consumer indicators weigh on growth prospects. While specific sectors like regional sports and event-driven tourism show upward momentum, these are offset by significant headwinds in consumer purchasing power, municipal fiscal stability, and aviation costs.
Updated 2026-08-17 22:22 UTC · sign up for the full net read + the markets you follow
Energy
The gist: The energy market is leaning higher, driven primarily by escalating geopolitical risks involving Iran and the U.S., which have jolted oil prices upward. This upward momentum is reinforced by rising inflation-linked pressures stemming from increased gasoline costs and fuel rationing in certain Russian regions, alongside significant capital deployment in renewable infrastructure and solar/storage capacity.
Updated 2026-08-17 21:24 UTC · sign up for the full net read + the markets you follow
Eu Equities
The gist: EU equities are displaying a sideways to leaning lower bias as markets enter a period of summer lethargy characterized by investor reluctance to take significant positions. While the DAX remains within its record range and the EuroStoxx stays close to record highs, downward pressure from a retreat in the luxury sector and disappointing economic indicators from China has weighed on indices like the CAC 40.
Updated 2026-08-17 18:17 UTC · sign up for the full net read + the markets you follow
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