Higher-for-Longer Ends Cheap Money
Money now carries a real cost because inflation stays above target and growth is still resilient enough to keep policy restrictive.
5 min read
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Fresh coverage on the economy, markets, and the forces moving money.
Can Cheap-Leverage Models Survive Higher Rates
Cheap leverage is ending as higher funding costs, balance sheet runoff, and positive term premiums reset valuations across credit and duration markets.
4 min read
Markets Are Still Mispricing Higher Capital Costs
The economy is still repricing the end of zero rates, as higher capital costs work through debt, valuations, and policy assumptions built for cheap money.
6 min read
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