Global Macro

Structural views. Not noise.

Key Indicators · Apr 20, 2026

US Fiscal Deficit6.2%+0.4%
CRE Refi Wall$1.2T+200B
Global Defense YoY+9.4%+1.2%
M2 Supply Growth0.8%-0.2%

Published Research — Macro

Mar 27, 2026

The Eight-Body Problem: The Complete Financial Architecture of the 2026 Iran War

This is not a war for oil. It is a contest over who absorbs the risk premium on Gulf order, and eight rational actors are each playing a different financial game.