Our Scans · Fiscal Dominance and the End of Monetary Primacy · Weekly Summary

• [New] For states worldwide, the primary digital threat is no longer the prospective issuance of a foreign state-led digital currency, but the legitimized, scalable diffusion of private, U.S. dollar denominated stablecoins. Taylor & Francis
• [New] With many nations now facing increased spending pressures, rising interest costs, and changes in sovereign debt markets, global public debt is on the rise and could cause economic instability. Committee for a Responsible Federal Budget
• [New] Hotter-than-expected inflation could push Treasury yields higher and strengthen expectations of tighter monetary policy, creating a less supportive backdrop for Bitcoin and other risk assets. investing.com
• Argentina's Javer Milei administration, having implemented radical fiscal consolidation and deregulation, faces 2026 as a critical year that will determine whether economic stabilization succeeds or gives way to renewed inflation, currency depreciation, and political upheaval. Foreign Affairs Forum
• Elevated geopolitical risks, high public debt levels, and evolving global trade dynamics continue to create uncertainty across markets and economies. Abhyash Suchi
• Organic net sales will be down 1.5% to 2% in fiscal 2026 and both adjusted operating profit and adjusted diluted EPS to decline 16% to 20% in constant currency. Just Food
• While Ecuador's use of the U.S. dollar minimizes currency risk, political uncertainty, interventionist policies, fiscal challenges, and economic stagnation have prevented Ecuador from maximizing its potential. United States Department of State
• More broadly, if tokenised USDs gain widespread global adoption, stablecoins could become a structural source of demand for US government financing, and potentially influence debt-issuance strategy and broader global liquidity dynamics. MUFG Research
• Analysts began asking whether dollar-pegged stablecoins could remain viable in a world of rising U.S. debt and currency diversification. FinTech Magazine Article
• The ever-rising wall of debt faced across the globe will continue to rise, with currency devaluation and fiscal stability concerns likely to drive demand for non-fiat assets. FinanceFeeds
• Whenever there is a Fed transition, Treasury yields, duration risk, and credit spreads usually move faster as markets begin to reassess monetary policy. Synergistic Financial Advisors
• The United States economy is expected to slow toward its long-term potential growth rate in 2026, as tighter monetary policy and reduced fiscal stimulus moderate demand. Abhyash Suchi
• Still, investors in US Treasuries will be looking to the budget for clues about the sustainability of US public debt could cause long-term Treasury yields to rise. gCaptain
• Rising public debt, high bond yields, and changes to the Fed's balance sheet could raise concerns about sustainability. investing.com
• Walmart's Q2 fiscal 2026 earnings report packs a punch of steady progress amid economic uncertainties, with revenue ascending 4.8% to $177.4 billion - or 5.6% in constant currency - propelled by a 25% global eCommerce explosion and consistent segment gains. Financhle
• The growing U.S. national debt raises the prospect of fiscal dominance, where the Fed might feel forced to prioritize managing debt over controlling inflation, artificially lowering interest rates and hindering its ability to fight price increases. Whalesbook
• There is a possibility that off-budget spending could be utilised to support growth, or Bank Indonesia may have to do more via monetary policy and burden sharing. ANZ Institutional Insights
• The risk is that markets - which have long tolerated Japan's high public debt - begin to question whether fiscal policy remains anchored. OMFIF

Last updated: 24 June 2026