In Section II, Jonathan examines whether the AI “scaling laws” are likely to hold. They will over the near term, but cracks are already beginning to form in the narrative of ever-improving AI....
Our new Private Credit taxonomy adds granularity to the opaque lending universe and introduces Asset-Based Lending—attractive entry points, elevated risks. Private Real Estate delivers the largest upgrades from 2025, while Public REITs and Public Infrastructure present compelling opportunities that ...
Contrary to widespread narratives, there is little cash on the sidelines. The aggregate amount of investable funds-to-equity market cap ratio is at an all-time low in the US and very low in other developed markets....
Our first release of the China High-Frequency Indicators for 2026 suggests that economic growth will continue to decelerate in Q1, leading us to adopt a tactically cautious stance on Chinese equities....
Recession risks in the UK are clearly rising. In this Special Report, we unpack why labor market deterioration, falling wage growth, and normalizing inflation support deeper BoE cuts ahead. We then discuss how to position across gilts, the pound, and UK equities....
The conventional wisdom attributes the fall in the yen and the rise in long-term JGB yields to growing fiscal concerns. This narrative, however, fails to explain why the Japanese stock market has risen by 29% in dollar terms since the start of 2025, outperforming the All Country World Index by 6%....
The dollar’s grip on global finance remains formidable, but the foundations are slowly shifting. Our new Dollar Dominance Indicator cuts through the noise, showing why USD usage stays sticky even as reserve demand erodes, and what this long transition means for FX and alternative reserve assets....
