Archive

Browse a collection of past posts and rediscover timeless content.

Foreign Money Is Setting the Marginal Price in U.S. Markets

Hedged returns decide who buys the next treasury.

Feb 16, 2026

Freight Is Falling — But Supply Risk Isn’t

The cost curve improves while resilience gets pricier.

Feb 15, 2026

Immigration Is the Labor Market Variable Everyone Underweights

Labor supply quietly shapes wages and inflation.

Feb 13, 2026

Earnings “Resilience” Is Getting More Expensive to Maintain

Cash conversion matters more than EPS beats.

Feb 12, 2026

Inflation Expectations Are the Market’s Real Thermostat

Breakevens tell you what CPI headlines can’t.

Feb 10, 2026

The Default Cycle Is Starting to Show Its Teeth

Higher-for-longer tests the weakest balance sheets first.

Feb 9, 2026