ledger

Macro Pilgrim's Ledger | April 5, 2026

Global markets plunge for sixth consecutive week as Iran conflict escalates and oil surges past $111 per barrel

Apr 5 • Santiago Capital

Macro Pilgrim's Ledger | March 27, 2026

How the Strait of Hormuz crisis pushed global markets into their longest losing streak since 2022 as oil surges past $108

Mar 29 • Santiago Capital

Macro Pilgrim's Ledger | March 22, 2026

Global markets break key support levels as central banks hold rates steady and precious metals suffer worst week since 2020

Mar 22 • Santiago Capital

Macro Pilgrim's Ledger | March 15, 2026

The week that was, macro/policy, the week ahead, plus a bunch of important charts in between.

Mar 15 • Santiago Capital

Macro Pilgrim's Ledger | March 8, 2026

Oil spikes, credit spreads widen, and equities roll over. Is this just a correction…or the first tremor of a deeper macro shift unfolding?

Mar 8 • Santiago Capital

Macro Pilgrim's Ledger | March 1, 2026

Stocks slipped as AI tensions, tariffs, and geopolitics weighed. With bonds repricing risk, is this pause…or the start of something bigger?

Mar 1 • Santiago Capital

Macro Pilgrim's Ledger | February 22, 2026

Stocks grind higher. Bonds slide. Gold holds firm. Crypto cracks. Is this quiet strength…or late-cycle complacency hiding beneath the surface?

Feb 22 • Santiago Capital

Macro Pilgrim's Ledger | February 15, 2026

“Walking the path of global markets, one step at a time.”

Feb 15 • Santiago Capital

Macro Pilgrim's Ledger | February 8, 2026

Markets didn’t wait for a recession...they just needed a crowded story to unwind. When data goes missing, narratives take over… but which one wins next?

Feb 8 • Santiago Capital

Think Laugh Cry

This Substack is reader-supported.

Feb 4 • Santiago Capital

Macro Pilgrim's Ledger | February 1, 2026

Calm markets, steady data...then one headline flipped the script. When policy and politics collide, fundamentals blink. What really changed beneath the…

Feb 1 • Santiago Capital

Macro Pilgrim's Ledger | January 25, 2026

Tariffs, Fed drama, and gold’s explosive breakout...see why markets are on edge. Get the high-stakes analysis on trade wars and the shift to defensive…

Jan 25 • Santiago Capital

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