A theme is a falsifiable chain of evidence—not a headline. Filter by state or category, then inspect what supports and contradicts it.
The global disinflation process has stalled as energy and food shocks meet still-firm services inflation. The thesis is persistence—not an uninterrupted rise—and it remains sensitive to energy normalization and demand.
Large borrowing needs and elevated inflation uncertainty are increasing the compensation investors require to hold long-duration government debt—even as the policy rate sits below long yields.
AI infrastructure spending has become a macro investment cycle supporting growth, power demand and technology trade. The key uncertainty is whether realized cash flows and productivity justify the cost of capital.
Common shocks are producing different central-bank responses because inflation persistence, spare capacity and currency pass-through vary by economy.