Research
Home Depot and Lowe's both delivered modest comps and reaffirmed guidance this week. The signal is not relief — it is two CEOs describing the same structural ho
Research
Saylor said bitcoin might be sold. JPMorgan said the buying could hit $30B. The treasury company complex is being repriced as a financial product.
Research
China's April data printed the weakest retail growth since December 2022. The interesting question is which 4.5% target Beijing is willing to miss.
Research
PIF spent $6B to permanently reshape professional golf. The league dies. The disruption succeeds. Where the money flows next is the trade.
Research
December hike odds doubled to 40% in a week. The story is not transient inflation. It is the duration premium being rebuilt in real time.
Research
The FSB, Bloomberg and the WSJ wrote the same private credit story in ten days. Rowan and Breeden named the same three risks 24 hours apart.
Research
Cisco's Q3 lifted FY26 hyperscaler AI orders to $9B. The number that resets the trade is the $900M enterprise pipeline growing triple-digits.
Research
Headline CPI hit a three-year high at 3.8%. Core decelerated to 2.8%. The market read the print and re-priced 2026 cuts to near-zero. The harder question is what the Warsh transition does in the first ninety days.
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Medicare will cover GLP-1s for obesity from July 1. Private insurers refused the BALANCE risk and CMS took it on alone. The biotechs got the easy read. The fiscal arithmetic is the harder one.
Research
Q1 operating earnings up 18%. Cash at a record $397 billion. The first buyback in two years. The post-Buffett discount is real and, on the May data, mispriced.
Research
Sportico values WNBA franchises at an average $427 million, up 59%. The league lost $40 million last year. Players take 9.3% of revenue. The next CBA will decide which number wins.
Research
Stablecoins hit a record $321bn in April. On the same day, Lagarde rejected euro versions and Bailey promised a wrestle with Washington. The transatlantic split is the trade.