The Cockroaches are Multiplying
Six weeks ago, I asked whether private credit was the new subprime. Things are only looking worse since.
Macroeconomic News: Insights into Economic Trends and Developments
The Chokepoint Always Wins
Markets continue to price this as a temporary disruption. But the idea that Iran will simply hand Hormuz back for free looks naïve in the gaze of history.
Death of the Petrodollar
Iran is offering Hormuz passage in exchange for yuan settlement. This could be the wedge that splits the world’s financial system in two.
Hormuz Shock
Drone strikes and naval escalation threaten the world’s most important energy corridor. The second order effects could be a headache for our hopes of rate cuts in the near term.
Is Private Credit the Next Subprime?
Blue Owl Capital just shut the door on its investors. And if you’re not paying attention, you should be.
Tariff Déjà vu
Trade chaos is ensuing in the wake of the Supreme Court’s ruling on Trump’s tariffs. When uncertainty spikes, there’s a clear place to be.
