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The Bond Manager’s Guide to the Intelligence Explosion: Rates, Credit, and Duration in an AGI World
A speculative note for institutional fixed income portfolio managers in India 19 August 2026 Fixed income managers are professionally allergic to speculation, and rightly so. Fixed income, as an asset class, rewards those who harvest small and predictable edges such as carry, roll-down, auction tactics, and some limited spread trades and relative value. It punishes
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Gold is a lawn with a ticker
4 July 2026 Every few months, I get the same call. This particular phone call came in the last week of January when gold printed at $5,500 per ounce and a client asked: “Should we be in gold?” On 30 June it traded at $3,955 — down 29.7% from that print, the worst drawdown since