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Freight markets can offer a timely window into global trade, demand and economic activity—but their signals are often overlooked. Nadia Mirza of the Baltic Exchange joins Haver Analytics Senior Economist Andy Cates to discuss the Baltic’s role in global freight markets, the data and benchmarks it p…

The Cost of Capital Climbs

In this week’s podcast, Andy talks with Sharmila Whelan from Westbourne Research. Long-term interest rates are back near two-decade highs. The short end has eased as soft US data pare back Fed tightening bets, but the long end keeps climbing on deeper, structural forces. Many of this week’s charts…
The global economy has held up better than a noisy summer might suggest, with tensions in the Middle East, intervention to steady the yen, and nerves over AI spending all unsettling sentiment — yet the data have stayed firm and the pressure on interest rates has been upward, not down. In this week'…
The Federal Reserve held rates again this week, but the more consequential story is the investment cycle now lifting the real cost of capital — and whether all that spending will pay off. This week's charts trace it from the Fed to the physical constraints that will decide the outcome: Fed hold…
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