ChartStack

The American nightmare.

A dollar now buys 23% less than it did in 2020 — Andrew Lokenauth

The 3-year high met a new low.

Source: BLS CPI-U, year-over-year · purchasing power of $1 indexed to Jan 2020, deflated by cumulative CPI.

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2 million Americans haven't had a paycheque in over 6 months.

That's up +524,000 in a year. The most since 2021. — Andrew Lokenauth

Source: BLS current population survey, seasonally adjusted.

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And the jobs market is close to frozen.

Hiring is at decade lows.

Source: BLS job openings & labor turnover survey (JOLTS), seasonally adjusted.

“In a normal economy unemployment is a revolving door, most spells are short. The same rate with no churn behind it is a different beast”. — Scenarica

Andrew’s full note on why this matters is a must read.

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The bond market looked straight through inflation to lower oil from US-Iran de-escalation talk.

This week saw near-record Treasury auction demand.

Source: U.S. Treasury daily par yields, BLS CPI, CNBC, Trading Economics.

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The Hormuz reopening hope pushed the first fully-priced +25bp hike out to 2027.

A December hike is now only 77% priced. — steve

Market-implied probabilities per CME / desk estimates (Deutsche Bank, Morgan Stanley, Nordea) as of Jun 12 2026 — desk-sourced.

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Meanwhile, the SpaceX IPO dragged Rocket Lab (RKLB) and SpaceMobile (AST) into the conversation.

Ticker attention velocity this week on Finance Substack.

MarketStack data: 6 – 12 Jun vs 30 May – 6 Jun across 2,817 notes and 3,608 articles from > 600 publications.

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As healthcare, energy, and financials barely register.

Coverage is still concentrated in hyperscalers, semis and software.

MarketStack data: Across 1,385 notes, 1,633 articles, > 600 publications on Finance Substack from 6 – 12 June.

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And now from PoliticStack

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Opposition to data centers is accelerating.

49 states blocked 75 projects worth $130B in Q1. This is now a sustained and intensifying trend. — Datacenterwatch.org

Source: Data Center Watch (10a Labs), Q1 2026 report, via NBC News

$130B is 1/10th of the entire build pipeline.

Source: Data Center Watch / 10a Labs via NBC News, Global Data-Center Construction Pipeline Report, ConstructConnect, Mar 2026.

And the same as the total blocked or delayed across all of 2025.

Source of data: Data Center Watch (10a Labs), Q1 2026 report, via NBC News · value of U.S. data-center projects blocked or delayed by local opposition.

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See also: PoliticStack, the MarketStack Terminal and MarketStack The Edit

MarketStack is free today. But if you value my work, you can pledge for a future subscription. MarketStack is an independent, anonymous publication summarising publicly available commentary and views from across financial media. Nothing here constitutes financial advice or a recommendation to buy, sell or hold any security. All views are a synthesis of public information. Past performance is not a guide to future results. This publication is not authorised or regulated by the Financial Conduct Authority. The author writes anonymously in a personal capacity.