Media – Blog
February 4, 2026
Central Casting: You’re Hired — Fed Chair Edition President Trump nominated Kevin Warsh as the 17th Chair of the Federal Reserve to succeed Jerome Powell, whose term ends on May 15, 2026. Although Warsh had been under consideration for several months, he only emerged as the front-runner after President Trump signaled on January 16th that he was
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February 2, 2026
Nearly four years after we first highlighted the credit advantages of Big Tech’s large cash holdings, balance sheet strength has only grown more important. The rapid adoption of generative AI is driving a surge in infrastructure and data-center spending, and capital expenditures (capex) that were once modest are now among
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January 20, 2026
Fed Voting Rotation Adds Hawkish Tilt in 2026 The annual rotation of regional Federal Reserve Bank presidents with a vote on monetary policy introduces a more hawkish tilt in 2026. All four presidents rotating into voting positions this year are generally inclined toward a patient approach on rate cuts, while
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January 6, 2026
2025 Recap Tariffs and artificial intelligence were two of the dominant themes driving headlines in 2025. While tariffs were widely expected to push prices higher and slow economic growth at the onset, their actual impact on economic data has proven to be more limited than expected at this stage. The Federal Reserve also remained front and center throughout
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December 18, 2025
The financial press is currently fixated on whether U.S. equity markets are in the midst of an AI-driven stock market bubble. With the topic soaking up much of the proverbial oxygen in the room, other important developments in fixed income and money markets are receiving far less attention. One such
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December 17, 2025
Silent Dissents at the December FOMC The December 10th FOMC meeting offered something for both hawks and doves, but it was the dot plot that most clearly highlighted a divided Federal Reserve. From a hawkish perspective, the official FOMC statement reintroduced language last used in December 2024, just ahead of the
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December 2, 2025
December Cut Probability Jumps Following Williams' Remarks During most of November, markets viewed the odds of a December rate cut as essentially a coin toss. At one point, dovish Fed speak pushed the probability of a December cut to only 30%. However, that sentiment shifted sharply on November 21st, when
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November 20, 2025
If you’ve been skimming headlines lately, it’s easy to assume that credit risk is suddenly everywhere. An auto-parts borrower collapses amid allegations of double-pledged receivables. A subprime auto lender goes under and dents a few banks’ earnings. Several regional banks disclose fraud-linked commercial loans. Regional bank stocks wobble. It feels
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November 17, 2025
Heading Towards a Fed Santa Pause? Hawkish commentary from the Federal Reserve has continued into November, with several officials pushing back against the idea of a rate cut at the December FOMC meeting. Recent remarks include: With a growing number of Fed members signaling no urgency to ease policy, fed
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November 5, 2025
As we review Q3 2025 the venture debt market continues to show positive momentum, with both the technology and healthcare sectors showing meaningful signs of growth. While each sector exhibited distinct patterns, both recorded increases in deal count and volume, supported by larger transaction sizes and deepening deal pipelines as
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