AI, Capital Intensity, and Why Climate Indices Have Diverged
Climate-aligned equity indices have faced a challenging start to 2026. To better understand the drivers of this divergence, we analyzed the performance of the MSCI USA Climate Paris-Aligned Benchmark (PAB) Index relative to its parent MSCI USA Index across sector, style, emissions, and asset-intensity dimensions.
Fixed Income Market Year in Review and 2026 Outlook
In the wake of a particularly robust year for fixed income returns across sectors—with notably little differentiation between them—it is instructive to examine return patterns over the prior decade.
Latam Markets in 2026: Revolution, Revelation, or Reversion?
After a historic year of outperformance, what’s next for Latin American markets in 2026? Will these traditional “hot money” markets give back their gains or is this a turning point for these former investor darlings turned market minnows?
How AI Is Rewriting Capital Efficiency, Profitability and Valuation: Q4 2025 Systematic Global Equities Update
From Technology Giants to Industrial Titans, Big Tech is transitioning from a world of capital-light economics to one defined by physical scale, infrastructure intensity, and resource constraints
Persistence of the Nimble: Understanding Boutique Manager Alpha
Boutique investment managers have durable structural advantages that can lead to enhanced alpha generation.
The Price of Distrust ─ Part 2: The Costs of Political Interference at the Fed
45 years of de facto Fed independence appears increasingly at risk. President Trump has already installed one Fed Governor, is attempting (possibly illegally) to dismiss another, and has triggered market speculation about his ability or willingness to even dismiss the Chairman. What does this mean for markets?