Economy

Economy coverage from the StreamSage Economy desk. Sources on every story. Page 4.

• UBS estimates $2 billion in US tariff refunds for Swiss firms

  UBS economists say Swiss companies could recover up to $2 billion in US tariff reimbursements.

• Portugal Secures €1.5 Billion EIB Loan for Housing

  The financing from the European Investment Bank will fund the construction and renovation of roughly 50,000 social housing units across the country.

• Iceland finance chief rejects central bank fee inflation claim

  Finance Minister Dadi Mar Kristofersson said public sector fee indexation is not a key inflation driver, despite 75 basis points of tightening in 2026.

• Small Firms Added Tools, Not Growth

  Small businesses added digital tools and cross-border suppliers, but their growth gap versus larger firms has only widened.

• Tether and Circle Stablecoin Supply Shrinks Amid Crypto Downturn

  USDT and USDC circulations both declined by nearly $3 billion in the first half of the year.

• ECB set to deliver second rate hike this week

  A quarter-point increase is widely signaled for Thursday, shifting attention to a potential third step later in the year.

• Brazil Trade Surplus Beats Expectations Amid US Tariffs

  Brazil recorded an above-forecast trade surplus in August as exports to the US increased despite 25% tariffs.

• Bitcoin faces two Fed tests as inflation data arrives after rate decision

  The FOMC meets Sept. 16 without August PCE, which is due Sept. 30 alongside an annual revision that could change the inflation baseline.

• August jobs report triples forecast, lifts Fed hike odds to 58%

  U.S. payrolls rose 162,000 in August, pushing Bitcoin down 2% from a four-month high of $82,240.

• U.S. employment report shows 162,000 jobs added in August

  The Bureau of Labor Statistics reported that the unemployment rate remained unchanged at 4.1% for the month.

• US Adds 162,000 Jobs in August, Topping Forecasts

  Bloomberg Economics reported that August hiring exceeded all estimates, indicating stronger labor market momentum.

• U.S. Adds 162,000 Jobs in August, Beating Forecasts

  The jobs report exceeded expectations, pushing the 10-year Treasury yield to 4.80% and dropping Bitcoin below $80,000.

• Canada employment falls 41,700 in August

  The August drop reversed recent labor market momentum, with manufacturing the only sector to see a significant increase.

• Ireland revises Q2 growth above 10%

  A sharp upward revision to Ireland's second-quarter GDP could lift the euro zone aggregate.

• ISM Services Index Rises to 55.4

  The index rose 1.3 points, marking the highest level since February and exceeding the median estimate from a Bloomberg economist survey.

• RBI Faces $10.6 Billion Bill From Diaspora Deposit Program

  A record $127 billion in foreign deposits leaves the central bank with a significant interest cost, Bloomberg Economics reported.

• US share of Canada exports hits lowest level since 1997

  Declines in gold and energy sales cut the US proportion of Canadian exports to 66% in July, per Bloomberg Economics.

• Swiss Inflation Accelerates to Fastest Pace Since September 2024

  Swiss inflation rose faster than analysts expected, marking the quickest increase in nearly two years, according to Bloomberg Economics.

• US private payrolls up 38,000 in August

  ADP data showed a monthly gain below the 47,000 expected by economists, marking the year's smallest increase.

• Fed’s Barr Says Higher Rates Needed If Inflation Doesn’t Cool

  Governor Michael Barr warned that price pressures risk becoming entrenched after exceeding the target for over five years.