Could the World’s Energy Systems Look Completely Different in 50 Years?

Published on February 23, 2026

Until I read Hannah Ritchie’s new book, “Clearing the Air: A Hopeful Guide to Solving Climate Change in 50 Questions and Answers,” I was inclined to believe the view of Mark Mills, a former senior fellow at the Manhattan Institute, that a transition away from society’s dependence on hydrocarbons “is not feasible in any meaningful time frame.” But Ritchie changed my mind.

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What Drives Returns in Floating Rate Notes?

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Income rather than price is the primary driver of FRN returns. As policy rates and SOFR move, FRN coupons adjust accordingly, allowing income to rise in higher-rate environments and decline when rates fall.

Short Box Spreads: An Oft-Overlooked, Lower-Cost Borrowing Tool Gains Ground

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