The Basis Point
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Working notebook on rates, credit, and the markets in between — filter by topic below.

5 Aug 2026What your Gym Membership Can Teach Us About Modern FinanceAcross structured credit, investors are increasingly lending against predictable human behaviour rather than hard assets, a shift that may reshape how AI businesses are financed.Credit30 Jul 2026When the Gale Changes CourseHow AI has shifted creative destruction Credit22 Jul 2026Lending Against Obsolescence From Bricks to Chips: Why Credit Markets are Lending Against GPUsCredit14 Jul 2026Could a Railway Change the Price of War?Could Hormuz eventually become a regional security story rather than a global macro story?Rates & Macro7 Jul 2026The Gilded Age of Private CreditPrivate credit has created its own Gilded Age: an industry admired for its stability and returns, but where the appearance of simplicity may conceal a more complex web of leverage.Private Credit2 Jul 2026Brazil's Winning FormationWhy the 2–5 Year Bonds Control the GameTrade Ideas26 Jun 2026Super El Niño: The Yield Curve’s Hero or Inflation’s Villain?Could climate change become a structural source of inflation? Rates & Macro23 Jun 2026A Clear Picture of the Wrong ProblemThe UK's new bond market transparency programme arrives just in time to give investors a clearer view of why they shouldn't be buyingRates & Macro16 Jun 2026Tech Giants and the New Logic of Bond IssuanceExamining the strategic surge in bond issuance among tech giants amid higher-for-longer interest rates and unprecedented AI investment demandsNew Issues9 Jun 2026The Price of Opacity in Private CreditPrivate credit's booming but are investors paid for opacity risk, not just credit risk? Private Credit