ECONOMY08/21/26

Bitcoin's Best Week in Years

Bitcoin surged toward a 20% weekly gain, lifting crypto stocks and broader markets.

Photo: Forbes

DIFFERENT FOCUS

Bloomberg Markets emphasized Broad Market Risk Rally; Forbes emphasized Trump Policy As Catalyst.

LEFT FOCUS

▸Bloomberg reported US equities broadly advanced alongside Bitcoin's rally, with Treasuries trimming early gains. — Bloomberg Markets
▸Bloomberg noted oil wavered even as risk assets climbed during the crypto-driven session. — Bloomberg Markets

RIGHT FOCUS

▸Forbes also pointed to Treasury intervention in the bond market as boosting appetite for risky bets. — Forbes

Bank of America $1.2B Treasury Fine

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

September consumer prices rose 0.6% monthly and 3.7% annually, the fastest pace in five months.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Thursday: September CPI confirmed at 3.7% annually, up from 3.6% prior

Left: Rising prices squeeze everyday Americans hardest.

Right: Inflation surge spells trouble for Trump, GOP.

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.

Trump signs executive order waiving Russia sanctions and tariffs mandated by the Graham Act.

Left: Sanctions targeting Russia's Ukraine war dropped early

Right: Graham Act halted in name of national interest