Briefings, research, charts and analysis on the institutions, capital flows and systemic risks shaping long-horizon portfolios.
Correction: the earlier four-fund Canada comparison mixed six-month and one-quarter returns. Almaraz operating licences run to 8 June 2030; physical-protection dates do not. RBI closed new FCNR(B) deposits after $52.300bn. CPP Investments printed a 7.5% quarter.
NBIM votes 0.01% of SpaceX. GIC backs Anthropic's landlord. Six giants chase $500bn of compute credit. Canada's pensions split 9.5 / 5.1 / 4.8.
NBIM votes 0.01% of SpaceX. GIC backs Anthropic's landlord. Six giants chase $500bn of compute credit. Canada's pensions split 9.5 / 5.1 / 4.8.
BofA, NVIDIA, Goldman, GIC — six announcements this week, two of them transactions.
Two numbers from one bank on one day. Only one is a signed commitment of the bank's own capital — and even that has not closed.
The world's largest fund just posted a record half-year. Its allocation decisions subtracted from it.
Six firms sign MoUs to lend against GPUs as infrastructure — Nvidia may backstop up to $125bn. OTPP's broad-based 9.5%. The Rhine stops at Kaub. Hormuz, disrupted since February, gets a price list.
The Daily Brief · Monday, 10 August 2026 Who reads this Before the market opens, this brief is read at the desks that
Physical alternatives matter only if ships, crews and insurers will use them. Hormuz, the Red Sea and the Black Sea give asset owners a reason to test where supposedly diversified exposures share the same contractual bottlenecks.
Who reads this Read each morning by the people who set the direction of more than $50 trillion in long-horizon capital.
Watch · Today's briefing Three joint U.S.–Japan operations in twenty-eight years — 17 June 1998 (buying yen), 18 March
Two treasuries demonstrated a way to defend a currency without liquidating the bond market. The FIMA repo facility, not the exchange rate, is the disclosure that matters.