Research on interest rates, liquidity, fiscal policy, trade and regulation when they materially affect corporate investment, financing conditions and industry economics. The emphasis is on transmission mechanisms rather than short-term market forecasts.
Latest research
How Shareholder Activism Changes Industries: Capital, Competition and Innovation
Activist investors can change more than corporate governance. Their pressure on capital allocation, business portfolios and operating efficiency can spread through entire…
Stablecoins and US Debt: Why Treasury Demand Is Not Enough
Dollar stablecoins can bring new buyers to Treasury bills. Their fiscal value depends on where the money comes from, which maturities it…
Higher Interest Rates Explained: How a 5% Treasury World Changes Industry Economics
The Fed is tightening again and the U.S. 10-year Treasury yield has moved above 5%. The bigger question is no longer when…
Iran War Industry Impact: How Energy, Defense and Shipping Are Being Rewired
The Iran war has created an unusual trade-off for the United States: stronger energy exports and a larger industrial pipeline, but also…
Why Treasury Buybacks Can Calm the Market but Not Fix America’s Long-Rate Problem
The Federal Reserve controls the overnight policy rate, but the long end of the Treasury curve increasingly reflects fiscal supply, term premium…
AI Is Early, but Not Macro-Independent: How Rates and Growth Reach the AI Stack
AI remains early in enterprise diffusion even as technical capability and infrastructure investment accelerate. That does not make the sector macro-independent: interest…
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