No. 1Tariffs
New York Fed: tariffs added 2.9 points to prices of 67 goods
New York Fed researchers estimate that 67 categories of goods were 2.9 percentage points more expensive as of February because of tariffs. Without the levies, prices for those goods would have fallen by almost 1%. About 26% of last year's tariff increases reached consumers. Roughly two-thirds of the impact is direct, and the rest comes from knock-on effects such as companies paying more for imported parts. Annual price growth in these goods peaked at the start of 2026, but the report expects elevated prices into 2027. The White House maintains that foreign exporters ultimately bear the cost. The Supreme Court struck down many tariffs in February, and many imports now face duties of about 10%.
Why it mattersTreat this as the strongest evidence yet that tariffs fed through to consumer prices, and that the effect outlasts the rollback.
Full story at Economy →No. 2Treasuries
Bond yields fall as Treasuries pass a test of confidence
Treasury yields fell as the market cleared what MarketWatch framed as a crucial test of investor confidence. The 30-year bond remains a useful gauge of trust in the U.S. government. Our source material is a brief summary with no yield levels or auction details, so we can't size the move.
No. 3Spain
Spain's housing protests grow ahead of a snap election
Hundreds of protesters have camped in Madrid's Puerta del Sol over housing. The protests were sparked by the eviction of 87-year-old Maricarmen Abascal, who died Wednesday. Rents have risen 84% on average over ten years, according to Idealista. Protesters blame investment funds, but Bank of Spain data show companies own only 8% of rental properties. Economist Jorge Galindo points instead to supply: roughly 1.2 million new households formed from 2021 to 2025, against fewer than half a million new homes. The Bank of Spain puts the shortfall at about 750,000 homes. Congress rejected Sánchez's emergency measures, so he has called a snap election next month.
Why it mattersExpect housing to dominate Spain's campaign, with policy risk for landlords and investors in Spanish property.
Full story at BBC News →