Research / Insights

Written to be argued with.

Notes from the desk on what is moving markets, what we believe about it, and what would change our mind.

01Insights

Research earns its place by being falsifiable.

Every note states a position and the conditions under which that position would be wrong. We publish the reasoning, not only the conclusion, so clients can judge the quality of the thinking behind their portfolio.

Macro Strategy

Navigating mid-cycle volatility: the return of real rates

How institutional portfolios are rebalancing in response to shifting central bank policy and a durable positive real-rate regime.

01 Jul 2026

Energy

Decarbonization as a structural alpha driver

The global energy transition is creating multi-decade moats across grid, storage, and industrial transition capital.

14 Jun 2026

Digital Assets

Tokenisation of real-world assets: the next capital layer

Institutional adoption patterns and the structural implications for private markets, treasury management, and settlement.

22 May 2026

Real Assets

Logistics reshoring and the industrial revaluation

Supply chain localization is redrawing the map of core industrial real estate across North America and Europe.

03 May 2026

Global Markets

The re-emergence of hard-asset scarcity

Structural underinvestment in extraction meets accelerating industrial demand for critical minerals.

18 Mar 2026

Policy

Fiscal dominance and the new duration risk

Assessing sovereign debt trajectories and the implications for long-duration allocations.

08 Feb 2026