A sample of the analysis behind our own capital and our special projects. Full notes are shared directly with our partners, consistent with our discretion policy.
A read on where policy paths and market pricing have quietly decoupled — and what that gap implies for positioning.
Shared with our partnersCompute is not the bottleneck the market thinks it is. Power interconnection queues are — and few models price that in.
Shared with our partnersPatterns from special projects across three jurisdictions — where institutional coordination breaks down, and why.
Shared with our partnersA review of where sovereign credit pricing still assumes central bank independence that no longer fully holds.
Shared with our partnersA governance framework for boards that need to sign off on decisions they can no longer fully audit.
Shared with our partnersWhere evergreen fund structures and underlying asset duration have drifted furthest apart — and what that implies.
Shared with our partners