Education
A History of Interest and How It Moves Markets There is a number that sits at the center of every financial decision ever made. It determines whether you build a factory or keep your money in a vault. It decides whether governments wage wars or accept peace. It is the
Geopolitics
SPECIAL REPORT April 4, 2026 | Liquidity Desk Category: Geopolitics & Macro | Special Report Topics: Iran War, Strait of Hormuz, US Military Buildup, Energy Markets, Central Banks The Ceasefire Collapse In the early hours of April 4, 2026, something significant happened across the skies of Europe. Residents near Sofia's
Education
(Even Though the Company Is Fine) Most investors spend their time analyzing companies. They read earnings reports, study balance sheets, compare valuation multiples. And they should, that work matters. But there is a layer underneath all of it that most people never think about, and ignoring it is the reason
Education
To create money, someone, whether an individual or a government, must sign a debt agreement, and in practice the bank creates it out of nothing. All the money in the world is created through debt, and if that debt were repaid, there would be no money left. People and governments
Commodities
European Edition | March 2026 | Liquidity Desk CENTRAL THESIS Europe is at the epicenter of the 2026 commodity shock. TTF gas is up 92% year to date. London Gasoil has risen 114% at the wholesale level. Urea fertilizers have risen 73% over the past year. Yet Paris Milling Wheat is up
Liquidity
Liquidity & Sector Rotation | March 28, 2026 | Liquidity Desk CENTRAL THESIS Four weeks into the Iran war, the liquidity data says risk-on and the sector data says get out. Both cannot be right. Net Fed Liquidity is up $57 billion month-over-month — technically a green light. But every sector except Energy