The Fed Is No Longer Setting the Global Rate Cycle
For most of the past decade, global monetary policy was organised around one central question: what would the Federal Reserve do next? That hierarchy is...
Tag: AI
The Bond Market Is Starting to Set the Rules
For years, financial markets were conditioned to believe that central banks controlled the price of money. Today, that assumption is becoming much less comfortable. Two...
The Chip Boom Has Found Its Breaking Point
The global semiconductor sell-off is not simply another correction in an expensive sector. It is the moment when two assumptions that sustained the artificial-intelligence boom...
Emerging Markets Enter the Perfect Storm
For much of the past year, investors had begun to believe that emerging markets were finally emerging from the shadows of the post-pandemic monetary cycle....
The Return of the Inflation Triangle
The global economy is entering a new inflationary phase, not because one single shock has overwhelmed the system, but because three distinct forces are beginning...
The Fed Is No Longer Fighting Yesterday’s Inflation
The Federal Reserve is entering its July meeting with a problem that is far more serious than a single uncomfortable inflation print. The issue is...
The AI Revolution’s Weakest Link Is No Longer the Processor
For most of the history of computing, faster processors defined technological leadership. Every generation of chips delivered more computing power, allowing software to become more...
China’s AI Export Machine
For years, investors have debated whether China could escape the structural slowdown of its domestic economy. The latest trade data suggest that, for now, it...
The AI Bubble’s First Crack?
For the past two years, the investment case for artificial intelligence has been remarkably simple. Demand appeared limitless, hyperscalers announced ever larger capital expenditure plans,...