The big picture
The Treasury's proposed stablecoin rule and the SEC's crypto exemptions both aim to bring digital asset activity under U.S. regulation, but they pull in opposite directions: the former tightens issuance rules with extraterritorial reach, while the latter offers a path for fundraising up to $75 million. German bond yields surged to 3.16%, reflecting a broader repricing of long-dated debt. Japan's wage rigidity analysis and Singapore's expanded equity fund highlight structural shifts in labor and capital markets.
On the watchlist
- SEC's Regulation Crypto Assets comment period closes 60 days after publication, with final rule expected in 2027.
- Bundesbank tender for the 3% Federal bond due 2036 on 2026-08-20, target increase EUR 6 billion.
- Pakistan's July trade deficit of $3,978 million narrows further if exports sustain above $3 billion in August.
- Japan's Basic Survey on Wage Structure 2025 release due December 2026, to test wage rigidity trends.
- Singapore's Growth Capital Workgroup recommendations due by end-2026, potentially expanding EQDP further.
Top stories
1Treasury Rule Defines Stablecoin Issuance, Extends ReachLongreadRegulation & Structure
2SEC proposes crypto exemptions up to $75 millionRegulation & Structure
— SEC
3Japan's Wage Rigidity Distorts Labor AllocationPDFRates & Bonds
— BIS
4German bond yields surge to 3.16%PDFRates & Bonds
5Singapore expands equity fund to S$6.5bn★ Barely reportedEquities & Sectors
Also today
Pakistan exports surge 32% in July, trade gap narrows★ Barely reportedFX & Emerging Markets
In brief
Rates & Bonds 24 items
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Consolidated financial statement of the Eurosystem as at 14 August 2026 [pdf, 254.9 KB] — Banca d'Italia
UK Labour Market: August 2026 — Office for National Statistics (United Kingdom)
Inflation and Monetary Policy Report - Second Quarter 2026 — Central Bank of Bolivia
30-day CD Auction Press Release – 18 August 2026 — Bank of Jamaica
Notice of weekly liquidity injection tender No. 33/H/2026 of 17 August 2026 — Central Bank of West African States (BCEAO)
MSB Issuance Notice(03340-2903-0313) — BankOfKorea_Notice
Fiji Development Bank Issue No.10 of 2026 — Reserve Bank of Fiji
US Treasury 6-Week Bill — auction 2026-08-18, bid-to-cover 2.970000 — US Treasury (Auction Results)
Accredited official statistics: Tobacco Bulletin — HM Revenue & Customs (United Kingdom)
The size of the non-observed economy amounted to 245.5 trillion soums — State Committee on Statistics (Uzbekistan)
Bank of Jamaica Welcomes Dr. R. Brian Langrin as Governor — Bank of Jamaica
Commodities & Energy 4 items
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Poultry Establishment Statistics 2025 — Badan Pusat Statistik (Indonesia) — API
Guidance: Check the statutory market values for oil — HM Revenue & Customs (United Kingdom)
USDA acts to remove roadless rule restrictions that exacerbate rising wildfire risk — U.S. Department of Agriculture
FX & Emerging Markets 3 items
Summary of Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) for June 2026 — Pakistan Bureau of Statistics
Provisional Visitor Arrivals – July 2026 — Fiji Islands Bureau of Statistics
Regulation & Structure 12 items
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More transparency: BaFin publishes circular on administrative practice in corporate takeovers — BaFin
Imposition of a fine on Grzegorz Rak — Polish Financial Supervision Authority
Updated sanctions notification: Islamic Republic of Iran — Swiss Financial Market Supervisory Authority (FINMA)
Second registration window now open for tax advisers — HM Revenue & Customs (United Kingdom)
Promotional material: Help with common risks in transfer pricing approaches — GfC7 — HM Revenue & Customs (United Kingdom)
Guidance: Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service (CDS) — HM Revenue & Customs (United Kingdom)
Prudential Communication 12 of 2026 - Notice of Invitation for Comment - PA Budget Fees and Levies — SARB
ESMA consults on reporting framework for clearing activity at recognised third-country CCPs — European Securities and Markets Authority (ESMA)
No direct market impact 21 items
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Defense Health Care: DOD Should Assess Its Needs for Managing Potential Brain Health Effects from Weapons Blast Exposures — U.S. Government Accountability Office
USDA Announces $7.5 Million in Grant Funding to Expand Cold Chain Capacity and Increase Access to Real Food — U.S. Department of Agriculture
Multipurpose Maritime Exercise in the Western Black Sea — Frontex (Europaeische Agentur fuer die Grenz- und Kuestenwache)
Household gross investment rate — Eurostat
Building permits - monthly data — Eurostat
Production in services — Eurostat
Which countries does Uzbekistan export the most products to? — State Committee on Statistics (Uzbekistan)
Notice of a Meeting — Fed
Women increasingly excluded from Afghanistan’s labour market as wider employment pressures mount — International Labour Organization
Deadline for disclosure of 6-month consolidated financial report for 2026 — Financial Supervision Commission (Bulgaria)
Insolvency practitioner's handbook — HM Revenue & Customs (United Kingdom)
29. Corporation Tax — HM Revenue & Customs (United Kingdom)