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John Grey — Technology & AI infrastructure desk EXECUTIVE SUMMARY AI-driven disruption poses material risks to private credit portfolios, particularly those with heavy exposure to software companies, which comprise ~21% of the asset class and up to 40% including broader tech services. While defaults remain historically low, mispriced pre-2024
Global Macro
Brent hit $141. S&P 500 had its worst quarter since 2022. The Fed is paralysed. Markets are now rallying on Trump's claim the war is almost over. Here is the risk framework — and what investors should do before they act on the optimism.
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Asia Pacific raised a record $334 billion in equity capital in 2025 — over a third of global volumes. Hong Kong tripled deal flow. India delivered its best year ever. Here is the institutional case for the 2026 pipeline.
Global Macro
Global Champagne shipments have hit a 20-year low — three consecutive years of decline. For institutional investors, the fizz in Champagne is one of the most reliable behavioural indicators of what comes next in markets.
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.
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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.
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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...
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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.
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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.
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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.