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Market data, corporate filings, polling, and daily news reporting cited in the text with source and date (Financial Times, Bloomberg, Nikkei, CreditSights, Morgan Stanley, Goldman Sachs, Bank of America, S&P Global, PIMCO, Moody’s, the Federal Reserve and its districts, USDA, the JRC MARS bulletins, FAO, WFP, ICC, IMF, ILO, PIIE, Brookings, the Atlantic Council, the Century Foundation, Marquette Law School polling, Hurun Research Institute, the Wall Street Journal, the Washington Post, the New York Times) are not duplicated below except where a standalone document is quoted. Entries marked [complete] need final publication details supplied at the citation pass.

[Pending: Damodaran, Aswath, August 2026 reverse valuation, Musings on Markets; Druckenmiller via Greg Ip, WSJ; Gasparino, Fox Business; the FT Ramp-data report; the WSJ, WaPo, NYT, Bloomberg, and FT items of the August tape batch; the Kotkin entry pending the Edit M confirmation; the FSB May 6, 2026 warning; the Budd-Shaheen op-ed; the Century Foundation May 2026 report; the Atlantic Council oil-for-goods documentation; the Nikkei off-balance-sheet financing study.]

Data series cited in the notes: U.S. Energy Information Administration, Weekly Petroleum Status Report; U.S. Treasury, Treasury International Capital System, Major Foreign Holders of Treasury Securities; Board of Governors of the Federal Reserve System, Statistical Release H.4.1; U.S. Bureau of Economic Analysis, Personal Income and Outlays; U.S. Bureau of Labor Statistics, Consumer Price Index; Federal Reserve Bank of New York, Quarterly Report on Household Debt and Credit; Kpler, Vortexa, and AXSMarine vessel tracking.