Germany’s car industry is shrinking while its defence industry is growing. Carmakers and suppliers are cutting jobs and carry more plant capacity than they need, while a sharp rise in military spending has left defence…
The first part of this study began from an intuitive proposition: financial markets are networks, and models capable of learning from those networks should therefore possess an informational advantage over models that treat securities independently.
Significant changes are happening inside the fixed income markets, particularly in how investment managers decide to allocate their investments. Among asset managers, a prominent group is pension funds, which can influence markets given their significant AUM and their political and social consequences.
US equities set new records early in the week and spent the rest of it testing them, against a volatile macro backdrop driven by oil prices and yields. Brent traded between about $99 and $105 a barrel, and the 10-year Treasury yield touched about 5.35% intraday, its highest level since 2002. The ISM Services prices-paid index rose to 74.0 in September from 72.6
Download PDF Introduction Since the Covid-19 pandemic, sportswear and athleisure companies have seen outstanding growth, with the sector’s TAM growing from roughly $300bn in 2019 to $450bn today, an increase of around 50%. As a result, the market has seen many new entrants, including On, Alo, Vuori, and others, resulting Read more…
On 23rd September 2026, Switzerland’s upper house of parliament, the Council of States, voted to require the Swiss parent bank of UBS Group AG [SWX: UBSG] to back the value of its foreign subsidiaries with 90% Common Equity Tier 1 (CET1) capital, a decision UBS says would require ~$16bn of additional capital.
The goal of this project was to understand the Polymarket microstructure and the effect of different types of wallets on the price. This research utilizes public 2024 US Election data from Polymarket to analyze market microstructure and the efficacy of algorithmic trading strategies within decentralized prediction markets.
In the world of fixed income markets, hedging against interest rate exposure is one of the most essential aspects of risk management. This is especially true for market makers. Client trades leave the desk with exposure to rate risk across the tenors clients trade and due to adverse selection
Alternative managers are no longer constrained by investor appetite but by access to liabilities. An insurance balance sheet never redeems, replenishes itself through premiums and carries roughly ten times the equity committed to it. Every closed-end fund is born with an expiry date.
US markets ended the week with a relief rally after September’s employment report on Friday weakened the probability for another immediate Federal Reserve rate increase later in October. Nonfarm payrolls rose by just 29,000, while the unemployment rate rose up to 4.2%. July and August employment gains were revised down by a combined 60,000. Wage growth also fell to its lowest annual level since May 2021
Artificial intelligence is often described as an intangible revolution. Its near-term economic footprint, however, is strikingly physical. Training and deploying frontier models requires large quantities of specialised chips, electricity, cooling, network equipment, and purpose-built data centre capacity.
The memory industry has a habit of turning shortages into gluts. Demand for dynamic random-access memory (DRAM), which holds data while processors work, has historically followed spending on PCs, smartphones and servers. When prices rise, manufacturers invest in more capacity, which can arrive just as demand weakens. Factories still carry high fixed costs, leaving profits exposed when chip prices fall.
Most of the work on a trading idea goes into finding an edge. Much less goes into the second question, which is how much capital to put behind it, even though a good bet sized badly can still lose money. A simple experiment reported by Haghani and White [2] makes the point.
Building a data centre in Europe takes about two years. Connecting it to the grid can take five times as long, with waits of seven to ten years in the main hubs. For hyperscalers racing to add AI capacity, that wait is now the biggest obstacle, and it has changed what is scarce in European power no longer generation, but access to the grid.
Mexico’s government-bond curve presents an unusually steep front-to-intermediate structure, but the distinction between a steep macro curve and a locally cheap five-year bond has become increasingly important.