Insights
Quick reads on markets and policy
Written for practitioners and informed investors—free to read, dated and sourced. You’ll find short market and macro notes that explain moves and policy shifts without the noise; evergreen principles that clarify risk, ranges and behaviour; and concise explainers on the themes we’re asked about most. When doing nothing is the right call, we say so.
The Refinancing Clock Inside the AI Build
Data-centre debt with legal maturities in the 2050s is being planned around repayment within five years. What happens at that earlier date is decided by the market for replacement capital, not by the building.