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Macro AnalysisMacro Analysis
The 5% World Just Arrived and Most Portfolios Aren't Built For It

The 5% World Just Arrived and Most Portfolios Aren't Built For It

Two macro forces are setting up the biggest regime shift of the year. Here's where to hide.

Macro NewsletterMacro Newsletter
The Dollar Is Winning Every Fight Except The One That Actually Matters

The Dollar Is Winning Every Fight Except The One That Actually Matters

Reserve preference is shifting under your feet and long yields are the only tell left.

Macro AnalysisMacro Analysis
Higher For Longer Just Became Higher Forever

Higher For Longer Just Became Higher Forever

The setup that's rewriting every price on your screen. Plus the four names built to survive it.

Macro NewsletterMacro Newsletter
Yields Reset Higher, and Every Valuation Model Just Got Rewritten

Yields Reset Higher, and Every Valuation Model Just Got Rewritten

A global yield reset, a 38% crude run, and a payrolls print all hit the same week.

Macro AnalysisMacro Analysis
What If the War Ends?

What If the War Ends?

The whole market is positioned for a long war. Here's your hedge if Hormuz reopens.

Macro NewsletterMacro Newsletter
The Week Japan Stopped Being the World's Cheapest Lender

The Week Japan Stopped Being the World's Cheapest Lender

Japan's bond yields just hit a 30-year high, and your US portfolio sits on the other end of it.

Macro AnalysisMacro Analysis
The Market's Safety Cushion Just Disappeared

The Market's Safety Cushion Just Disappeared

Stocks and the 10-year now pay you about the same. That changes which stocks deserve your money.

Macro NewsletterMacro Newsletter
Friday Brings Durable Goods and GDP, Monday Delivers the First Consumer Bellwether

Friday Brings Durable Goods and GDP, Monday Delivers the First Consumer Bellwether

Four calendar events between now and next week decide whether the yield rout keeps running.

Macro AnalysisMacro Analysis
You're Living Through Three Bull Markets at Once

You're Living Through Three Bull Markets at Once

Crude, gold, and AI names are all bid at once. The old playbook? Cooked.

Macro NewsletterMacro Newsletter
The Bond Market Is Telling You Rate Cuts Are Off The Table

The Bond Market Is Telling You Rate Cuts Are Off The Table

A bulging belly in the curve says higher-for-longer, and your rate-sensitive book knows it.

Macro AnalysisMacro Analysis
The Buyer Shortage Behind Your 5% Discount Rate

The Buyer Shortage Behind Your 5% Discount Rate

Capital just got expensive. Here is what that does to every position you own.

Macro NewsletterMacro Newsletter
Are You Hedged For Next Week's Trump-Xi Headline?

Are You Hedged For Next Week's Trump-Xi Headline?

Warsh went hawkish, Hormuz is choking, and China risk lands on your desk Tuesday morning.

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