Sources

Source library

36 sources used across 22 videos. Last updated Oct 26, 2026.

Every number in a Future Macro video comes from a source we can link to. This page lists those sources, with the date we relied on and the videos that used each one. "Primary" marks the agency, central bank or company that published the data. The rest are news reports.

Video source pages

• Brent Hit $109.86. What It Means for Inflation.Oct 21, 2026 · chapters, numbers and every source
• AI Isn't a Bubble. It's a Borrower.Oct 15, 2026 · chapters, numbers and every source

All sources

Showing all 36 sources.

• Weekly Petroleum Status Report

  U.S. Energy Information Administration · Week ended Oct 16, 2026 (released Oct 21)

  Distillate stocks +1.7M barrels to 104.3M, still 9.7% below a year earlier.

  • Primary
  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Weekly U.S. on-highway diesel price

  U.S. Energy Information Administration · Week of Oct 19, 2026 (released Oct 20)

  $6.276 a gallon, up 9.7 cents on the week.

  • Primary
  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• AAA Daily Fuel Gauge

  AAA · Oct 19, 2026

  Regular $4.2953 vs $3.0362 a year earlier; diesel $6.3187; diesel record $6.5276 on Sept 22.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• FOMC meeting calendar

  Federal Reserve · Checked Oct 19, 2026

  Oct 27-28 meeting; statement 2:00 PM ET and press conference 2:30 PM ET on Oct 28.

  • Primary
  • The Fed
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)
  • Will Big Tech's Next Spending Plans Mean More Debt? (Oct 21, 2026, short)
  • Waiting for the Bottom Before You Sign a Mortgage? (Oct 22, 2026, short)

• Oil slips from 5-month high

  Reuters via Euronext · Oct 19, 2026

  Kpler tanker data: Gulf crude flows fell to about 8.5 million barrels a day (7-day average), from more than 20 million the week before.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Front-month ICE Brent settles at $109.86 (Data Talk)

  Dow Jones Market Data via Morningstar · Oct 16, 2026

  Brent settled at $109.86, its highest close since May 19; WTI $101.41.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Oil touches $110 a barrel for the first time since May

  Reuters via Euronext · Oct 16, 2026

  Brent touched $110 intraday on Middle East and Russian diesel supply worries.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Primary Mortgage Market Survey (PMMS)

  Freddie Mac · Weekly; cited for Oct 8 and Oct 15, 2026

  30-year fixed at 7.40%, against 6.30% (Oct 8 survey) and 6.27% (Oct 15 survey) a year earlier.

  • Primary
  • Mortgages
  • Rates & yields
  Used in:

  • The 10-Year Just Hit Its Highest Since 2002 (Oct 9, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)
  • Same House, One Year Later: +$301 a Month (Oct 15, 2026, short)

• Russia says Ukraine resumes attacks on oil refineries

  Al Jazeera · Oct 15, 2026

  Second report on the resumed refinery strikes.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• U.S. crude stocks fall on hurricane shut-ins, distillate inventories fall, EIA says

  Reuters via EnergyNow · Week ended Oct 9, 2026

  Crude stocks -8.6M barrels; distillate -2.5M to 102.6M.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Ukraine hits Russian refinery as Zelenskiy says 'we're done' with energy truce

  Reuters via Investing.com · Oct 15, 2026

  Drone strike and fire at the Ryazan refinery.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Consumer Price Index, September 2026

  U.S. Bureau of Labor Statistics · Released Oct 14, 2026

  Headline 3.7%, core 2.6%, gasoline +34.2% over the year and +9.1% in September, more than half of the monthly increase.

  • Primary
  • Inflation
  • Oil & energy
  Used in:

  • Gas Up 34.2% in a Year. September CPI Explained (Oct 14, 2026, short)
  • When Inflation Won't Cool, Borrowing Costs More (Oct 23, 2026, short)
  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)

• Daily Treasury par yield curve rates

  U.S. Department of the Treasury · Cited for Oct 9 and Oct 14, 2026 closes

  3-month bill 4.25% (Oct 9) and 4.28% (Oct 14); 10-year 5.19% (Oct 14).

  • Primary
  • Rates & yields
  Used in:

  • The 10-Year Just Hit Its Highest Since 2002 (Oct 9, 2026, short)
  • $10,000 at 0% Gives Up About $425 a Year (Oct 11, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)
  • Is Your Emergency Fund Earning Close to Zero? (Oct 19, 2026, short)

• Front-month ICE Brent settles at $106.06 (Data Talk)

  Dow Jones Market Data via Morningstar · Oct 14, 2026

  Brent settled at $106.06 a barrel on Oct 14.

  • Oil & energy
  Used in:

  • From the Gas Pump to the Bond Market (Oct 20, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)

• Real Earnings, September 2026

  U.S. Bureau of Labor Statistics · Released Oct 14, 2026

  Real average hourly earnings -0.7% over the year, -0.5% from August.

  • Primary
  • Jobs & pay
  • Inflation
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Oil headed for weekly gain on Middle East tension and Hurricane Isaias

  The National · Oct 9, 2026

  Hormuz tension and Gulf hurricane shut-ins weighing on supply.

  • Oil & energy
  Used in:

  • Gas Cost 27% More in August. Here's Why. (Oct 10, 2026, short)

• Oil prices rise, Brent settles at $104.72

  WAM (Emirates News Agency) · Oct 9, 2026

  Brent settled at $104.72 a barrel on Fri Oct 9.

  • Oil & energy
  Used in:

  • Gas Cost 27% More in August. Here's Why. (Oct 10, 2026, short)

• Gov. Christopher Waller speech

  Federal Reserve · Oct 8, 2026

  "For at least the near term, policy will be focused on the inflation side of our mandate."

  • Primary
  • The Fed
  • Inflation
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Hormuz transits at lowest in over two months after attacks

  Reuters via Investing.com · Early October 2026

  Kpler: crude crossing the strait fell 27% from the prior week's high, to at least 10.1 million barrels a day.

  • Oil & energy
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Monthly Budget Review: September 2026

  Congressional Budget Office · Oct 8, 2026

  FY2026 federal deficit of $2.0 trillion.

  • Primary
  • Deficit & Treasury supply
  Used in:

  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)
  • The Government Has a New Rival for Lenders (Oct 21, 2026, short)

• Microsoft announces quarterly earnings release date

  Microsoft · Oct 7, 2026

  Quarterly results on Wed Oct 28, 2026.

  • Primary
  • Company filings
  Used in:

  • Will Big Tech's Next Spending Plans Mean More Debt? (Oct 21, 2026, short)

• Minutes of the FOMC meeting, Sept 15-16, 2026

  Federal Reserve · Released Oct 7, 2026

  AI borrowing named as one factor behind higher Treasury yields; hyperscaler spreads "remained wide"; the Fed's preferred inflation gauge (PCE) estimated at 3.8%.

  • Primary
  • The Fed
  • Rates & yields
  • AI borrowing
  • Inflation
  Used in:

  • The Fed Just Named AI as a Reason Rates Are Rising (Oct 9, 2026, short)
  • Google Burned Cash for the First Time. AI Is Why. (Oct 12, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)
  • Why AI Debt Got Pricier to Sell This Year (Oct 20, 2026, short)
  • When Inflation Won't Cool, Borrowing Costs More (Oct 23, 2026, short)

• Treasury yields, auctions and the FOMC minutes

  CNBC · Oct 7, 2026

  10-year touched 5.35% intraday, highest since 2002; up about 60 bp since end of July while U.S. crude rose about 20%; $58B 3-year, $39B 10-year and $22B 30-year auctions that week.

  • Rates & yields
  • Deficit & Treasury supply
  • Oil & energy
  Used in:

  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)
  • From the Gas Pump to the Bond Market (Oct 20, 2026, short)
  • The Government Has a New Rival for Lenders (Oct 21, 2026, short)

• Alphabet announces date of Q3 2026 results call

  Alphabet Investor Relations · Oct 6, 2026

  Q3 call on Wed Oct 28, 2026, 4:30 PM ET.

  • Primary
  • Company filings
  Used in:

  • Will Big Tech's Next Spending Plans Mean More Debt? (Oct 21, 2026, short)

• The Employment Situation, September 2026

  U.S. Bureau of Labor Statistics · Released Oct 2, 2026

  Average hourly earnings +3.0% over the year to $37.81; unemployment 4.2%; payrolls +29,000.

  • Primary
  • Jobs & pay
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• AI debt boom: balancing risk and opportunity

  Capital Group · Oct 1, 2026 (data through Aug 31)

  About $290B of AI-related debt vs $321B of 10-year Treasury notes issued through August; "AI investments vastly exceed AI revenues."

  • AI borrowing
  • Deficit & Treasury supply
  Used in:

  • Google Burned Cash for the First Time. AI Is Why. (Oct 12, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)
  • Can AI Be Real and Still Be Overpriced? (Oct 19, 2026, short)
  • AI Is Catching Up to Washington's Flagship Bond (Oct 23, 2026, short)

• Consumer Price Index, August 2026

  U.S. Bureau of Labor Statistics · Released Sept 11, 2026

  Headline CPI 3.4%, core 2.4%, energy +16.3%, gasoline +27.4% over 12 months.

  • Primary
  • Inflation
  • Oil & energy
  Used in:

  • Gas Cost 27% More in August. Here's Why. (Oct 10, 2026, short)
  • 27.4% gas. CPI tomorrow: watch these 3 numbers (Oct 13, 2026, short)

• Chair Kevin Warsh, Jackson Hole remarks

  Federal Reserve · Aug 28, 2026

  The 2% PCE inflation objective described as "a firm, fixed target."

  • Primary
  • The Fed
  • Inflation
  Used in:

  • Brent Hit $109.86. What It Means for Inflation (Oct 21, 2026, long-form)

• Amazon Q2 2026 earnings report

  CNBC · July 30, 2026

  Amazon 2026 cash capital spending of about $220B. One of four inputs to the "more than $700B" total.

  • Company filings
  • AI borrowing
  Used in:

  • Who's Lending Big Tech $194 Billion? (Oct 18, 2026, short)

• Meta Form 10-Q, quarter ended June 30, 2026

  SEC EDGAR · Quarter ended June 30, 2026

  About $279B of leases signed but not yet started, plus about $68B more in July.

  • Primary
  • Company filings
  • AI borrowing
  Used in:

  • Who Ends Up Funding AI's Decades-Long Promises? (Oct 18, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)

• Hyperscaler debt binge pushes yields up as investor demand cools (Reuters, syndicated)

  Reuters via LSE.co.uk · July 29, 2026

  About $194B of bonds from Amazon, Alphabet, Meta and Oracle through early July, up 79%; new-issue concession 12 bp vs about 2; Apollo: cover ratios from nearly 5x to below 2x.

  • AI borrowing
  Used in:

  • Who's Lending Big Tech $194 Billion? (Oct 18, 2026, short)
  • The Crowd for Big Tech IOUs Is Thinning (Oct 22, 2026, short)
  • Why AI Debt Got Pricier to Sell This Year (Oct 20, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)

• Meta reports second quarter 2026 results

  Meta Investor Relations · July 29, 2026

  Meta 2026 capital spending of $130-145B. One of four inputs to the "more than $700B" total.

  • Primary
  • Company filings
  • AI borrowing
  Used in:

  • Who's Lending Big Tech $194 Billion? (Oct 18, 2026, short)

• Microsoft FY2026 Q4 earnings call

  Microsoft Investor Relations · Late July 2026

  Calendar 2026 capital spending of about $175B. One of four inputs to the "more than $700B" total.

  • Primary
  • Company filings
  • AI borrowing
  Used in:

  • Who's Lending Big Tech $194 Billion? (Oct 18, 2026, short)

• Alphabet's cash burn raises alarm as Big Tech AI spending climbs

  Reuters · July 23, 2026

  Alphabet's first quarterly cash burn on record, $5.9B in Q2.

  • AI borrowing
  • Company filings
  Used in:

  • Google Burned Cash for the First Time. AI Is Why. (Oct 12, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)

• Alphabet's century bond has now lost a 10th of its face value

  Bloomberg · July 23, 2026

  Alphabet's 100-year sterling bond, sold in February, below 90 pence by late July.

  • AI borrowing
  Used in:

  • Will Big Tech's Next Spending Plans Mean More Debt? (Oct 21, 2026, short)

• Google quarterly cloud revenue growth beats expectations

  Reuters · July 22, 2026

  Alphabet 2026 capital spending plan raised to $195-205B.

  • Company filings
  • AI borrowing
  Used in:

  • Who's Lending Big Tech $194 Billion? (Oct 18, 2026, short)
  • AI Isn't a Bubble. It's a Borrower. (Oct 15, 2026, long-form)

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