Author | Lightnews

Michael A. Gayed, CFA @leadlagreport.bsky.social · 36m

Nearly 20% of the world's ultra-wealthy (those with net worths exceeding $30M) live in just 10 cities.

Of those 10 cities, seven are located in the United States.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 1h

The average 30-year fixed rate mortgage fell for the third straight week, easing to 6.19% as of October 23, down from 6.27% in the previous week.

Rates are now at their lowest level in over a year.

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 1h

Annual inflation in the US increased to 3% last month, the highest level since January, though slightly below forecasts of 3.1%.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 3h

National debt reached an astounding $38 trillion according to the U.S. Treasury Department.

For those counting, that's an increase of $1 trillion in just over two months.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 4h

The S&P Global US Composite PMI moved up to 54.8 in October from 53.9 last month, marking the highest level since July.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 6h

Weekly jobless claims increased to at least 232,000 for the week ended October 18, up from 220,000 from the week prior, according to economists.

In particular, there was a spike in applications by federal employees in recent weeks, likely linked to the over 150,000 workers who accepted buyouts.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 7h

The HCOB Eurozone Composite PMI increased to 52.2 in October, up from 51.2 in September, and higher than forecasts of 51.

October represents the sharpest pace of expansion since May of last year.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 7h

Statistics Canada says the number of Canadians traveling to the US fell for the eighth straight month in August, with 29.7% fewer Canadians returning from trips to the United States compared to a year earlier.

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 2d

And yes, it's still down roughly 97% from its all-time high.

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 2d

"The bigger they are, the harder they fall."

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 2d

Sources say as early as next month, Japan’s new Prime Minister Sanae Takaichi may announce a massive stimulus package that will likely surpass last year’s $92 billion initiative aimed at helping households cope with inflation.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 2d

China's GDP expanded by 4.8% in Q3 2025 compared to the same period last year, marking the lowest growth since Q3 last year.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 2d

While it improved by one position from last year, the United States still only ranks as the 15th most competitive tax system in the Tax Foundation's latest study.

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 2d

LNG exporters in the US have announced plans to more than double US liquefaction capacity between 2025 and 2029.

Together with Mexico and Canada, North American export capacity additions will equate to more than 50% of all expected global additions through 2029.

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 2d

According to Vanguard, US job growth was just 0.1% in seven of the first nine months of 2025.

The last time job growth was that soft for a meaningful period?

The Great Recession in 2009.

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 3d

In a potential sign of economic pullback, around 20% fewer people (roughly 400,000) visited the massive State Fair of Texas this year compared to 2024.

The Ferris Wheel Indicator?

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 3d

SmartSense’s “Frozenomics” study of 1,000 U.S. adults found 63% say their financial situation has worsened over the past 12 months, and 65% report their grocery budgets have tightened.

Notably, two-thirds of Gen Z respondents report relying more on frozen foods to cope with the situation.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 3d

China overtook the US as Germany's largest trading partner in the first eight months of the year, with German imports and exports with the world's second-largest economy totaling 163.4 billion euros ($190.7 billion), besting the US's 162.8 billion euros.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 3d

Forget Tech: The Real AI Trade Might Be Power, Pipes, and Payouts

Read here: www.leadlagreport.com/p/forget-tec...

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 4d

Cracks in the Shadows: Private Debt Jitters Trigger a Risk-Off Jolt

Read here: www.leadlagreport.com/p/cracks-in-...

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 4d

Lumber’s Year in Review: Housing, Gold, and a Distorted Risk Signal

Read here: www.leadlagreport.com/p/lumbers-ye...

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 4d

Defensive, Discounted, and About to Dominate: 5 Stocks Hiding in Plain Sight

Read here: www.leadlagreport.com/p/defensive-...

Michael A. Gayed, CFA @leadlagreport.bsky.social · 4d

The average 30-year fixed-rate mortgage in the US decreased to 6.37% in the week ending October 17, down from 6.42% in the previous period.

Rates are once again approaching the one-year low seen roughly one month back.

Michael A. Gayed, CFA @leadlagreport.bsky.social · 5d

While he concedes it will likely be another quarter-point trimming, Fed Governor Stephen Miran says he intends to repeat his support for a 50 bps rate cut when the central bank meets later this month.

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Michael A. Gayed, CFA @leadlagreport.bsky.social · 5d

A Treasury official, quoting a report by the White House Council of Economic Advisors, said the government shutdown may be costing the U.S. economy upwards of $15 billion a week.

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