Macro · Geopolitics · Regime

The world is one causal chain

Geopolitics, the economy, and market regime, worked as one system. One question a week, followed all the way through.

Published Sundays Research, not advice Est. 2026
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Current state Updated 10 Aug 2026

Regime

Risk-on

Held 6 weeks

Core CPI nowcast

0.28%

m/m · consensus 0.24%

Forecast record

7/9

Resolved · full record below

How each issue is built

Most letters give you three opinions. We give you one chain.

States behave strategically. That behaviour moves the economy. The economy sets the market regime. The regime decides what is priced. We work the whole line, in order, every week.

Every Sunday

The same five parts, so you can compare us to ourselves.

01

State of the world

Where the regime sits and what the nowcasts read, before any argument is made.

02

The question

One question for the week. Specific enough to be answered, narrow enough to be wrong.

03

The analysis

The chain worked end to end, with one pillar leading depending on what the week demands.

04

The forecast

Explicit, dated, with a confidence level and the condition that would falsify it.

05

The reckoning

How prior forecasts resolved. Hits and misses, in the same place, every week.

The record

Anyone can be interesting. We would rather be checkable.

IssuedForecastResult
03 AUG 2026 Core CPI m/m at or above 0.30% for the July print Hit
27 JUL 2026 Risk-on regime holds through 31 August Open
20 JUL 2026 No agreement reached before the September deadline Miss

Illustrative entries. Every forecast is logged when published and never edited after the fact.

Method

We show you the machinery. We keep the calibration.

You should never have to take a number on faith. Every engine is explained in plain English, with a version history, so you know what moves it.

Published

  • What goes into each engine
  • What it is most sensitive to
  • Every version and what changed
  • Every forecast, hit or miss

Held back

  • Weights
  • Calibration
  • Feature construction
  • Source code

Cutting through the Gordian knot

One chain, every week.

Sunday mornings. Free while we build the record.

The first fifty readers keep it free permanently.

Dated. Falsifiable. Scored.