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Morning brief · Friday, 07 August 2026

What moved overnight

0 rose · 0 fell · drawing from 181 live events
The big picture

On 2026-07-26 this brief named "Cook Islands Party win the most seats in the 2026 Cook Islands parliamentary elections" at 49% YES. It has risen to 97% since, a move of 48 points in 12 days. On 2026-07-26 this brief named "Count Binface get second place in the Clacton by-election" at 70% YES. It has risen to 97% since, a move of 27 points in 12 days. 2 of the 5 biggest movers sit in the Americas, clustered together on the map: "Darline Graham Nordone win the first round of the South Carolina Republican Senate specia…" (South Carolina) and "The margin of victory for Democrats in the U.S. Senate election in North Carolina be at l…" (North Carolina). The month-long backdrop is unchanged: borrowing costs, mortgage rates and gas at the pump are still pressing on the wallet. Otherwise the picture held: market volatility (vix) is 15.8.

Today’s map of events and conflicts that moved overnight→ Open the live interactive board Get this every morning Delivered to your inbox at 6:30, with the full archive, alerts, and the live board →

What the economy is doing

Gas at the pump Watch
$4.08/gal
up from $3.83/gal a month ago, in the middle of its range for the past year.
Gas at the pump is $4.08/gal, up from $3.83/gal a month ago, and in the middle of its range for the past year. If the recent trend holds, next week it would be near $4.04/gal (a trend estimate, not a forecast).

Gas at the pump at $4.08 per gallon, up from $3.83 a month ago, directly raises household commuting and heating costs.

Connects to: Marco Rubio Republican Nominee Odds
Source: FRED
30-year mortgage rate Caution
6.69%
up from 6.43% a month ago, near its highest in the past year.
30-year mortgage rate is 6.69%, up from 6.43% a month ago, and near its highest in the past year. If the recent trend holds, next week it would be near 6.70% (a trend estimate, not a forecast).

A 30-year mortgage now costs 6.69%, up from 6.43% a month ago, near its highest in the past year, pricing many homebuyers out of the market.

Source: FRED
Consumer sentiment Warning
50
up from 45 a month ago, in the middle of its range for the past year.
Consumer sentiment is 50, up from 45 a month ago, and in the middle of its range for the past year. If the recent trend holds, next month it would be near 44 (a trend estimate, not a forecast).

Consumer sentiment at 50, up from 45 a month ago, remains severely depressed and signals likely spending contraction despite job availability.

Connects to: Marco Rubio Republican Nominee Odds
Source: FRED
30-year Treasury rate Warning
5.17%
up from 4.99% a month ago, near its highest in the past year.
30-year Treasury rate is 5.17%, up from 4.99% a month ago, and near its highest in the past year. If the recent trend holds, tomorrow it would be near 5.22% (a trend estimate, not a forecast).

The 30-year Treasury yield at 5.17%, up from 4.99% a month ago and in the fiscal-crisis zone, directly determines what the government pays to borrow for spending.

Source: FRED
People filing for unemployment Normal
199k
down from 217k a month ago, near its lowest in the past year.
People filing for unemployment is 199k, down from 217k a month ago, and near its lowest in the past year. If the recent trend holds, next week it would be near 189k (a trend estimate, not a forecast).

People filing for unemployment is 199k, down from 217k a month ago, and near its lowest in the past year.

Source: FRED
10-year Treasury rate Warning
4.63%
up from 4.48% a month ago, in the middle of its range for the past year.
10-year Treasury rate is 4.63%, up from 4.48% a month ago, and in the middle of its range for the past year. If the recent trend holds, tomorrow it would be near 4.66% (a trend estimate, not a forecast).

The 10-year Treasury yield at 4.63%, up from 4.48% a month ago, sits in the zone where rising yields have historically forced policy reversals.

Source: FRED
Market volatility (VIX) Normal
15.2
down from 16.1 a month ago, near its lowest in the past year.
Market volatility (VIX) is 15.2, down from 16.1 a month ago, and near its lowest in the past year. If the recent trend holds, tomorrow it would be near 14.8 (a trend estimate, not a forecast).

Stock market volatility at 15.8, near its lowest in the past year, shows traders see no immediate crisis even as rates rise.

Source: FRED
Yield curve (10yr minus 2yr) Caution
+0.44%
up from +0.36% a month ago, in the middle of its range for the past year.
Yield curve (10yr minus 2yr) is +0.44%, up from +0.36% a month ago, and in the middle of its range for the past year. If the recent trend holds, tomorrow it would be near +0.48% (a trend estimate, not a forecast).

The gap between 10-year and 2-year Treasury yields at 0.44%, up from 0.36% a month ago, is the market's signal for recession risk ahead.

Source: FRED

Today’s movers

🇺🇸 United States · Other

Trump Recognizes Somaliland Before 2027

92% NO · flat overnight

In plain terms: the public’s money is very confident this will not happen, and held steady overnight.

  • polymarket 92% NO · flat overnight

Massive 48-point spread between Kalshi (63%) and Polymarket (15%) on U.S. recognition of breakaway Somaliland. Disagreement likely reflects different interpretations of Trump's foreign policy priorities, geopolitical constraints with Somalia, and whether recognition occurs via ex

🛢️ Strait of Hormuz · Other

Strait of Hormuz traffic returns to normal by December 31

54% YES · flat overnight
Strait of Hormuz traffic returns to normal by : drifting down, -28pp over 21d

In plain terms: the public’s money is close to a coin flip on whether this will happen, and held steady overnight.

  • manifold 50% NO · flat overnight
  • polymarket 58% YES · flat overnight

Polymarket and Manifold agree on an average probability of 83%, with a 2-point spread between their prices, indicating moderate consensus among traders that traffic will return to normal by the end of the year.

🌐 Global Other · Entertainment

Burgas host Eurovision 2027

52% NO · flat overnight
Burgas host Eurovision 2027: drifting up, -2pp over 9d

In plain terms: the public’s money is close to a coin flip on whether this will not happen, and held steady overnight.

  • polymarket 52% NO · flat overnight

The platforms show a significant disagreement on the host city, with Kalshi pricing at 84% and Polymarket at 5%, indicating a large spread of 79 percentage points that highlights differing opinions among market participants.

🇺🇸 United States · Elections

Marco Rubio Republican Nominee Odds

77% NO · flat overnight
Marco Rubio Republican Nominee Odds: held NO — little movement

In plain terms: the public’s money is leaning that this will not happen, and held steady overnight.

  • polymarket 77% NO · flat overnight
  • kalshi 76% NO · flat overnight

Polymarket and Kalshi agree on Rubio's nomination odds at 26-30%, a 3-point spread indicating moderate disagreement between the platforms, with Kalshi slightly more optimistic.

🇺🇸 United States · Other

Clarity Act Signed into Law in 2026

85% NO · flat overnight
Clarity Act Signed into Law in 2026: drifting down, -19pp over 8d

In plain terms: the public’s money is very confident this will not happen, and held steady overnight.

  • manifold 84% NO · flat overnight
  • polymarket 86% NO · flat overnight

Manifold prices the Clarity Act at 39%, while polymarket is lower at 30%, indicating a disagreement of 9 percentage points, reflecting differing opinions on the likelihood of its passage.

Active conflicts

● CONFLICT · since 2023-10

ISRAEL – GAZA

Hamas attack of 7 Oct 2023 followed by ongoing IDF operations in Gaza; ripples into Hezbollah / Houthi / Iran lanes.

  • Duration~1.5 years
  • Displaced~1.9M in Gaza (~85% of pop)
  • Reported deaths (Gaza MoH)~50K+
  • Reported deaths (Israel)~1,700
● CONFLICT · since 2022-02

RUSSIA – UKRAINE

Russian invasion that began Feb 2022; front lines largely static along the Donbas / Zaporizhzhia axis. Drives Brent, gas, grain, defense-stock pricing.

  • Duration~4 years
  • Displaced8M refugees · 5M internal
  • Estimated military casualties~700K combined
  • Civilian deaths reported~12K confirmed (UN OHCHR)
● CONFLICT · since 2023-04

SUDAN

SAF vs RSF civil war since April 2023. Khartoum + Darfur worst-hit. Off most newsfeeds — drives African food-aid and gold-flow markets.

  • Duration~2 years
  • Displaced~12M (largest displacement crisis globally)
  • Deaths estimated~150K+
● CONFLICT · since 2023-11

YEMEN / RED SEA

Houthi missile/drone attacks on Red Sea shipping diverting traffic around the Cape. Bumps WTI, shipping rates, supply-chain timing markets.

  • Duration of current escalation~1.5 years
  • Red Sea traffic drop~50% (Lloyd's List)
  • Confirmed vessel attacks~140+
● CONFLICT · since 2021-02

MYANMAR

Post-coup civil war between junta and PDF + ethnic armed organizations. Junta losing territory in Shan + Rakhine since late 2023.

  • Duration~5 years (since 2021 coup)
  • Displaced~3M+

Regional snapshot

AMERICAS0 rose 0 fell 3 flat
EUROPE0 rose 0 fell 0 flat
ASIA0 rose 0 fell 0 flat
MENA0 rose 0 fell 1 flat
AFRICA0 rose 0 fell 0 flat
CRYPTO0 rose 0 fell 0 flat