Global Macro
A two-day equity rout, oil at $141, a Beijing summit that resolved nothing, and Moody's recession model at 49%. Here is what happened this week and what it means for portfolios.
Research
The macro regime of 2026 is defined by five intersecting forces: dollar structural weakness, a hawkish Fed regime change, tariff policy uncertainty, the AI energy supercycle, and geopolitical realignment. This guide maps each force and the investment positioning it requires.
Research
A $59 billion market growing to $92 billion by 2027. Here is everything a serious investor needs to know about private credit in Asia-Pacific — returns, risks, Hong Kong dynamics, and manager evaluation.
Research
More than $10.1 billion in redemption requests have hit the largest private credit funds in Q1 2026. Blackstone, BlackRock, and Morgan Stanley are rationing payouts. The liquidity mismatch in private credit is not a crisis — yet. But it is the first serious test of assumptions that have been ac...
Research
China's 15th Five-Year Plan mandates 15-minute sports access circles in every urban area. Private equity is responding — and pickleball, driven by 40M+ global players, sits at the intersection of state mandate and commercial opportunity.
Research
China's robotics output, patent filings, and state-directed capital deployment signal a structural lead in humanoid robotics that Western commentators are systematically underestimating. The Spring Festival Gala was not a cultural moment — it was a product launch viewed by one billion people.
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AI and robotics are compressing the cost of production toward zero while governments scramble to understand the fiscal implications. The investment regime that emerges will reward asset owners and punish labour incumbents.
Research
Agentic AI is eliminating entry-level knowledge work systematically. Stanford's Canaries Paper shows 13% employment decline in exposed categories. The structural risk is not job loss alone — it is the destruction of the career ladder that produces future senior professionals.
News
The inaugural LIT TLP tournament in Zhongshan drew 400+ players including world #1 Ryan Lam. What appears to be a sports event is actually the commercial validation of a thesis about China's grassroots sports infrastructure mandate and the private capital opportunity it creates.
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Trump's nomination of Kevin Warsh to chair the Federal Reserve is the most consequential monetary policy development of 2026. Markets lost $5 trillion in value on the announcement. Here is why the reaction is rational and what it means for portfolio positioning.
Research
The DXY at a four-year low tells a story about structural dollar weakness that gold is reading correctly and Bitcoin is not. The divergence between these two supposed dollar hedges is the most analytically important signal in macro markets right now.
News
The Federal Reserve held rates at 3.5-3.75% after three consecutive cuts, marking the end of the easing cycle that began in September 2025. Two governors dissented for further cuts. Here is the full read-through for fixed income, equities, and the macro outlook.