The Bond Market Under Pressure
For years, governments believed they could spend first and worry about financing later. The bond market is beginning to disagree. Global sovereign issuance has reached...
Tag: Asia
The One-Page Peace and the Many-Page Failure
Washington is now offering Iran what it refused yesterday: a staged reopening of the Strait of Hormuz and a gradual lifting of the American blockade....
The War Without a Strategy
The United States is no longer negotiating with Iran. It is improvising against it. Donald Trump says he will review Tehran’s latest peace proposal, while...
The Blockade That Became a Trap
The American strategy in Iran was meant to be simple: apply pressure, choke the regime, force concessions, reopen the Strait of Hormuz, and then declare...
Ceasefire, Yes. Control, No.
Washington would like the world to believe that the worst is over. The reality is less comforting. A fragile pause has been announced, diplomats are...
Held Rates, Rising Risks
The bond market has stopped dreaming of rescue. A few weeks ago, investors were still clinging to the idea that the Federal Reserve would ride...
Aluminium’s Surge Signals a Deeper Breakdown
Aluminium is doing what markets do when the system begins to fracture: it is moving first, and moving fast. Prices in London are approaching $3,500...
When Dosas Disappear: The Day the Energy Shock Became Human
Crises are often announced by markets, priced in basis points, debated in central banks, and diluted in forecasts. But they are only understood when they...
The Strait Was Never Closed — It Was Taken
There are moments when markets misread events as shocks, when they search for volatility where, in fact, there is structure. This is not one of...