deep-dive
While traders obsess over gold's march past $5,100 and silver's wild swings, the real money is quietly being made in the most boring corner of the market. Last week, Duke Energy reported capital expenditures up 47% year-over-year. NextEra's transmission investments jumped 89%. Southern
macro
Strategic macro analysis: Where we are in the cycle, scenario probabilities, and actionable playbook.
deep-dive
Energy Macro Deep Dive — March 5, 2026 Texas went dark for 47 hours in February 2021, and 246 people died. The economic damage hit $195 billion. Yet here we are, 5 years later, and ERCOT just issued another emergency alert last week as winter demand spiked 12% above forecasts. The
macro
Daily macro intelligence: Key themes, trade setups, and action items for tonight.
macro
Strategic macro analysis: Where we are in the cycle, scenario probabilities, and actionable playbook.
Weekly Wire
Special Bulletin: Iran launched military operations against Qatar. All positions closed. 100% cash. We re-enter when we can see clearly.
RED ALERT ISSUE THE TOLLBOOTH JUST BECAME LITERAL The United States and Israel launched coordinated military strikes on Iran this weekend. Supreme Leader Khamenei is dead. The Strait of Hormuz — through which 20% of the world's daily oil supply passes — has effectively shut down. Tankers are stacking up.
deep-dive
Energy Macro Deep Dive — February 19, 2026 Silver just got obliterated. Down 15.77% in a single session while gold barely budged, pushing the gold/silver ratio to 66.27 — its highest level since the March 2020 panic. When silver crashes this hard against gold, it's not just
deep-dive
Energy Macro Deep Dive — February 12, 2026 The Inflation Reduction Act promised to rebuild America's energy infrastructure. 18 months later, we finally know where the money is actually going — and it's creating the biggest copper shortage since the 1970s. Here's the number that should
deep-dive
etf-monitor
Global X MSCI Colombia ETF provides frontier-market exposure to a dollarizing, reform-minded economy with significant oil production, gold mining, and coal exports — a high-risk, high-reward allocation for investors seeking commodity-leveraged Latin American equity exposure off the beaten path. This analysis is part of Energy Macro’s ETF Monitor research. For
tollbooth
Teck Resources is a late-cycle copper tollbooth positioned to capture outsized gains from North American grid modernization and AI data center buildouts, with 6.7 billion pounds of proven copper reserves and a newly commissioned QB2 project adding 320,000 tonnes of annual production just as structural demand accelerates. This