Blog
Research notes, market commentary, and quantitative analysis on macroeconomics, energy markets, and financial risk.
2026
China's Teapot Refineries: Hedging Against the Iran Oil Crisis
How China's teapot refineries provide strategic insulation from Iranian conflict oil price spikes through sanctioned crude purchases at significant discounts.
Notes on the Asian Capital Exodus
How the Iranian conflict is disproportionately punishing Asian capital markets through energy dependence, equity outflows, and currency depreciation.