The Return of Financial Engineering – Not 2008, But Not Nothing

Published on July 29, 2026

Leverage, ratings arbitrage, liquidity transformation, and a growing willingness to embrace complexity and illiquidity are becoming more visible across parts of the financial system.

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More of the Same

July 29, 2026
The US economy grew 2.0% in 2025 and it looks like it is growing another 2.0% this year. Real GDP grew at a 2.1% annual rate in the first quarter and, as we set out below, it looks like it grew at a 2.0% rate in the second quarter.

Bloomberg to Buy Private Markets Data Platform Canoe Intelligence

July 29, 2026
The deal seeks to create unified data and analytics tools for private markets investors, including wealth managers and family offices.