Daily Briefing — July 23, 2026
Today’s Briefing
Government Spending Just Swung 10 Full Points in One Quarter. Here’s What That Tells You About the Economy Underneath.
After contracting 5.6% last quarter, government spending snapped back to 4.4% growth in Q1 2026, an annualized swing of 10 full percentage points. That is one of the sharpest quarter-over-quarter reve
Economic Wire: Oil prices jump 4% as Rubio says U.S. will ‘continue to prot
According to CNBC, U.S. forces have struck Iran for 11 consecutive days, with Secretary Rubio framing the campaign around degrading Iran’s ability to threaten commercial shipping.
Economic Wire: Trump’s generic drug tariffs: What they could mean for medic
According to CNBC, the Trump administration’s proposed tariffs on generic drugs are raising serious questions about medicine prices, U.S.
Economic Wire: Houthis deploy missiles and drones to attack ships in southe
According to CNBC, Houthi forces have resumed missile and drone attacks on commercial ships transiting the Bab el-Mandeb strait, the narrow chokepoint where the Red Sea meets the Gulf of Aden.
Economic Wire: Kevin Warsh has homed in on three key phrases. How Fed watch
According to CNBC, Kevin Warsh has made five public appearances since being nominated as Fed chair, and he keeps reaching for the same three phrases: “family fight” (13 times), “first principles”…
Natural Gas Drops Almost 10% in a Week. Summer Was Supposed to Change That.
Natural gas at the Henry Hub benchmark fell to $2.79 per million BTU as of July 17, down 9.71% from $3.09 the week before. The timing is the puzzle: this is supposed to be the season when prices hold
Economic Wire: IBM lowers full-year forecast after earnings warning
According to CNBC, IBM lowered its full-year revenue forecast alongside its Q2 earnings report, and is now leaning on artificial intelligence, including a new internal coding tool called Bob, to…
ON1010 provides economic education for investors. Nothing in this email constitutes investment advice. Always consult a qualified financial advisor before making investment decisions.
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