Perspectives on Markets in Motion
Non-commercial essays on macro conditions, policy, market structure, and Islamic finance — published for educational purposes only.
Speculation is essential to liquidity, price discovery, and risk transfer. But where does productive risk-taking end and the creation of financial exposure for its own sake begin?
Stablecoins began as crypto plumbing; with $300 billion of reserves sitting in Treasuries, BlackRock, and BNY, they are becoming financial infrastructure.
As cracks begin to appear in conventional private credit, can Islamic finance build the model on a stronger foundation?
The divide between alternatives in public pensions and private-sector retirement plans may finally be beginning to close.
What happens when government financing needs collide with persistent inflation and a bond market demanding greater compensation for duration risk?
Partnership finance requires financial, information, relationship, and moral and reputational capital to operate together.
When an Islamic financing product resembles a conventional loan, is it meaningfully different from interest-bearing debt?