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English analysis

Page 12 of 12. English editions of sourced l0g investigations, newest first.Back to the latest →

6 min readmacroShadow banking: non-bank intermediation has overtaken the banksNon-bank finance holds $256.8tn, or 51% of global assets. Map hedge funds, money markets, private credit and vulnerabilities tracked by the FSB.13 min readriskThe migration of credit risk: out of the banks, out of sightNon-bank finance now holds more than half of global financial assets. See where credit risk moved after 2008 and how banks reconnect to private markets.9 min readaiAI and productivity: between measured gains and assumed effectsOne controlled study finds a coding task completed 55.8% faster; another finds 14% more support cases per hour. Macro evidence remains missing.10 min readmarketsThe bubble within the bubble: valuations, AI and inflated earningsThe S&P 500 looks even more expensive when earnings are adjusted for elevated margins. Test the bubble case, AI expectations and the main counterarguments.10 min readmacroThe AI boom under the BIS lens: real revolution, opaque financing, possible overcapacityThe BIS finds computing investment above its dot-com peak as AI capex shifts toward debt. The open questions are productivity, demand and overcapacity.7 min readmarketsAI circular financing: when the same dollar goes round and comes back as revenueOpenAI has roughly $1.4tn of compute commitments against about $13bn in revenue. Map how funding loops through Nvidia and cloud providers.10 min readaiThe debt behind AI: off-balance-sheet SPVs, bonds, private creditAI capex is moving from hyperscaler cash flow into bonds, off-balance-sheet SPVs, private credit and insurers. Follow the financing chain and its risks.