Today In Perspective

Today in Perspective analyzes financial and economic events in three dimensions rather than as isolated headlines.

Today In Perspective

What the market did today, what it's pricing in for the next six months, and what to watch tomorrow. Every weekday at 5pm ET.

Today in Perspective analyzes financial and economic events in three dimensions rather than as isolated headlines.

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The market just closed. Here's what happened.

Treasury stepped in. The market exhaled.

Buybacks doubled on long-dated bonds. 30Y yield fell 8bp. Moderna doubled on a melanoma vaccine. FOMC: "several favored raising rates." Walmart tomorrow.

Aug 19, 2026

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Treasury stepped in. The market exhaled.

Buybacks doubled on long-dated bonds. 30Y yield fell 8bp. Moderna doubled on a melanoma vaccine. FOMC: "several favored raising rates." Walmart tomorrow.

Aug 19, 2026

The chip trade broke. The 30-year yield hit a 19-year high.

Semis fell 5.5%. SanDisk and Marvell each dropped 9%. Home Depot beat but the market didn't care. Yields are doing the Fed's job.

Aug 18, 2026

Iran threatened to go on offense. Oil surged to $89.

The Dow dropped 270 before recovering half. Home Depot tomorrow. Walmart Thursday. The consumer test starts now.

Aug 17, 2026