In today’s briefing:
- Whale’s Tracking – Reassessment
Whale’s Tracking – Reassessment
- In this week’s global macro backdrop, investors are being forced to reassess the premium
behind “American exceptionalism”. - With the Trump administration initiating a criminal investigation into Federal Reserve Chair Jerome Powell, and raising tariffs on several European countries in the context of the Greenland sovereignty dispute, USD-denominated and USD- settled markets are facing a clearer rise in institutional risk.
- This risk is not simply about frequent policy headlines; it reflects a weakening in the predictability of the rules themselves.

