Capital Axis: July 2026

The Fed held for a fifth straight meeting and the bond market tightened anyway, one of the sharpest inter-meeting moves in two decades. The bill went almost entirely to the one asset class that cannot exist without borrowing: July's AI drawdown was a funding event, not a demand event.

Cite this: Gravitywell Research. "Capital Axis: July 2026." July 2026. https://www.gravitywellresearch.xyz/capital-axis/july-2026