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macro & strategy Members 6 min read

The Staircase Economy

I keep coming back to one line in Delta's Q2 2026 earnings. For the first time in the airline's history, premium ticket revenue exceeded main cabin revenue. Not marginally. That is why services inflation will not behave... rate hikes don't impact this group.

July 21, 2026 by Joe Zidle

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macro & strategy Members Sep 17, 2026

Hotter For Longer

Inflation stays hotter for longer. The economy stays stronger for longer. Those are unfolding simultaneously, and it's going to take more than one more hike from here to change that. Own inflation assets.

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macro & strategy Members Sep 15, 2026

What Got You Here

Three years ago I published “What Got Us Here Won't Get Us There” to describe how a rising 10-year treasury yield would fundamentally alter the way we think about returns. Today's environment may not have a direction; it might just churn. That challenges yet again what we think about investing.

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macro & strategy Members Sep 10, 2026

The Curve Flattens From Both Ends

Diesel prices rose 24.1% in August. That single line explains more than a third of the entire increase in final demand goods, and energy explains over three-fourths of the 1.1% rise. Both hands of the government are on the same curve, pulling opposite ways. That is a flattener.

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ZidleMSG is not a registered investment adviser, broker-dealer, or fiduciary. All content is independent macroeconomic research and commentary, published for informational purposes only. Nothing on this website constitutes investment advice, a solicitation, or a recommendation to buy, sell, or hold any security or investment product. ZidleMSG does not manage assets, execute transactions, or provide personalized investment advice. Advisory engagements are limited to macroeconomic research and commentary and do not constitute an investment advisory relationship under the Investment Advisers Act of 1940. Consult a qualified financial professional before making any investment decision. © Zidle Macro Strategy Group. All rights reserved.

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