The “Japanese Whale” hit the pause button in December. According to new Ministry of Finance data, Japanese investors turned net sellers of foreign assets last month, reversing a year-long trend of aggressive accumulation. 📉 THE DECEMBER PULLBACK: 🌊 THE 2025 MACRO VIEW: Despite the year-end dip, 2025 was a blockbuster year for capital export. 💡...
The “Death of Retail” narrative doesn’t apply to premium outlets. Aware Super, the A$210 billion ($141B) Australian pension giant, has acquired a 31.3% stake in the European Outlet Mall Venture (EOMV) platform from accounts managed by PIMCO. 🏰 THE PORTFOLIO: 🤝 THE POWER PARTNERSHIP: Aware Super isn’t going it alone. They are stepping into a...
One of the largest forced divestments in energy history is coming to a head this week. With the January 17 US sanctions deadline looming, a high-stakes bidding war has erupted for the global assets of Russia’s Lukoil, valued at roughly $22 billion. 🏁 THE FRONTRUNNERS: Sources indicate three distinct capital pools are competing for the...
A populist proposal has sent a chill through the US financial sector just as earnings season kicks off. Financial stocks sold off sharply on Monday after President-elect Trump called for a temporary 10% cap on credit card interest rates (down from the current ~21% average) starting January 20th to combat cost-of-living pressures. 📉 THE MARKET...
The “picks and shovels” of the institutional crypto market are heading to Wall Street. BitGo, the Palo Alto-based digital asset custodian founded in 2013, has set terms for its IPO, targeting a valuation of up to $1.96 billion. 💰 THE DEAL METRICS: 🏦 THE THESIS: Unlike exchanges that rely on trading volatility, BitGo’s core value...
The geopolitical risk premium is fading, leaving the market to face a bearish physical reality. Oil prices drifted lower on Monday (Brent ~$63, WTI ~$59) as traders assessed the cooling of immediate supply threats in Iran and the imminent return of Venezuelan barrels to the US market. 🇻🇪 THE VENEZUELA PIVOT: Following the ouster of...