Briefings, research, charts and analysis on the institutions, capital flows and systemic risks shaping long-horizon portfolios.
Treasury sold 30-year inflation-protected debt at 2.973%, the most since 2001, and primary dealers were left holding 2.10% of it. The same morning a canal cut traffic to 34 ships with its lake at a five-year average. Both are the same story.
Treasury is enlarging scheduled long-end buybacks as private-credit funds enforce contractual limits. The lesson is not that public bonds have a new backstop; it is that quoted liquidity and contractual access are different things.
The SEC stopped answering. An insurer reclassified $16bn. The 30-year hit its highest since 2007. Four gaps opened this week between the risk a long-horizon owner holds and the systems used to measure, govern and price it.
The 8-K discloses the cap, the trigger and the indemnity. The DOE disclosed the gas in February.
Reuters, citing Kpler, counted five Saturday transits and none on Sunday (later count: 3 Sat / 2 Sun), against 31 the weekend before. A vendor zero is not a closed strait.
Spain licensed Almaraz through 8 June 2030. India closed new FCNR(B) deposits after $52.300 billion. CPP Investments printed a 7.5% quarter.
Spain licensed Almaraz through 8 June 2030. India closed new FCNR(B) deposits after $52.300 billion. CPP Investments printed a 7.5% quarter.
NBIM votes 0.01% of SpaceX. GIC backs Anthropic's landlord. Six giants chase $500bn of compute credit. Canada's pensions split 9.5 / 5.1 / 4.8.
NBIM votes 0.01% of SpaceX. GIC backs Anthropic's landlord. Six giants chase $500bn of compute credit. Canada's pensions split 9.5 / 5.1 / 4.8.
BofA, NVIDIA, Goldman, GIC — six announcements this week, two of them transactions.
Two numbers from one bank on one day. Only one is a signed commitment of the bank's own capital — and even that has not closed.
The world's largest fund just posted a record half-year. Its allocation decisions subtracted from it.