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Jun 03, 2026

Weed out the laggards: Sustainability as a credit filter

Financial fundamentals remain the primary drivers of credit risk. Across more than 7,400 companies and 280,000 firm-year observations, profitability (ROA), leverage and size collectively explain the vast majority of variation in credit risk. 

Jun 02, 2026

Matryoshka market: Nested convictions in equities

Geopolitical resolution is the master assumption. Equity markets are pricing a framework agreement by September, consistent with the prediction market consensus and the pronounced kink in VIX term structure at Q3. 

May 28, 2026

Allianz Global Insurance Report 2026

The global insurance industry is estimated to have grown by +7.1% to EUR6.9trn in 2025, adding EUR456bn to the global premium pool. Although growth moderated from the exceptional +9.4% recorded in 2024, it remained comfortably above the ten year compound average growth rate (CAGR) of +5.6%, confirming that the industry’s growth drivers remain firmly intact. Life insurance remained the largest segment (EUR2,861bn), followed by P&C (EUR2,320bn) and health (EUR1,688bn). 

May 28, 2026

Too hot to grow: The economic costs of extreme heat

Extreme heat is emerging as a structural economic risk, with Europe highly exposed. Heat stress events have multiplied sevenfold since the 1980s while the average death toll per event has risen fivefold.

May 21, 2026

How AI is rewiring global trade

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. 

May 19, 2026

Transatlantic spread – from monetary signal to fiscal mirror

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.

May 12, 2026

Behind the gate: The promises and perils of private markets democratization

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. 

May 12, 2026

Thinking fast, building slow: The energy cost of the US AI boom

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%. 

May 06, 2026

US large banks: The peak of the cycle is not the time to be complacent

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.

May 05, 2026

Automotive: Will the Middle East crisis supercharge EV momentum?

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. 

623 releases in total