AI and trade are no longer separate policy domains. AI growth depends on globalized supply chains for semiconductors, computing infrastructure and digital services while trade is increasingly shaped by who controls AI infrastructure, data flows and cloud capacity.
Is one of the world’s most important pricing signals entering a new era? Since 2015, the 10-year spread between US Treasury yields and Eurozone German Bunds has ranged between 100bps and 270bps.
Artificial intelligence is about to impose the largest sustained demand shock on US electricity infrastructure in decades. By 2030, data-center power consumption is expected to nearly double, lifting the sector’s share of total US electricity demand from roughly 5% to around 9%.
Private markets are opening up to retail, and the product has to be rebuilt to fit. Global private markets have grown more than twentyfold since 2000 to over USD17trn, propelled by institutional adoption of the Yale endowment model that tilted long-duration capital aggressively into illiquid assets.
US large-cap banks posted record Q1 2026 earnings, and both earnings growth and asset quality sits well above trend. Yet, investors seem wary about how long the good times can last, for at least four reasons.
An electric tilt boosted by energy volatility. After a bruising 2025, Q1 2026 data reveal a striking reversal. BEV market share hit 19% EU-wide (+4pps vs; Q1 2025) and surged to 28% in France and 23% in Germany.
