Aug 7, 2026 · 11 min · 11 segments
This week on the M&W podcast Brian and Luke review what we did that wasn't work, the latest economics news, our work of the week and the work we wished we got to but didn't.
Brian WieserHostLuke StillmanHostI would say if the economy was a nine out of 10 for the year to date, we've had a few little hints of weakness recently.
There's just a minor, minor chance of just falling right over if we aren't careful.
And that's what leads to the economic news of the past week that I've been most interested in.
Whatever is going on, it's about making sure that treasury markets don't blow up because the fiscal problems in the United States are real.
And there are other problems that could cause fiscal problems to get a lot worse.
So you've got to prop up the yen by selling euros and not even letting the ECB or letting the European partners know that you're doing this.
Yeah, well, the fiscal issues, I mean, certainly U.S. interest rate environment, more hawkish.
You know, they say the bond markets always look a little further out into the future than the rest of the economy.
And I do think to the extent that we have reasons to be concerned about the long term, the bond market is also concerned.
And that's why you see these 30-year yields pushing up towards, what, past 5.5% on the US third year.
I would say if the economy was a nine out of 10 for the year to date, we've had a few little hints of weakness recently.
There's just a minor, minor chance of just falling right over if we aren't careful.
And that's what leads to the economic news of the past week that I've been most interested in.
Whatever is going on, it's about making sure that treasury markets don't blow up because the fiscal problems in the United States are real.
And there are other problems that could cause fiscal problems to get a lot worse.
So you've got to prop up the yen by selling euros and not even letting the ECB or letting the European partners know that you're doing this.
Yeah, well, the fiscal issues, I mean, certainly U.S. interest rate environment, more hawkish.
You know, they say the bond markets always look a little further out into the future than the rest of the economy.
And I do think to the extent that we have reasons to be concerned about the long term, the bond market is also concerned.
And that's why you see these 30-year yields pushing up towards, what, past 5.5% on the US third year.
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