Insights
Perspectives on wealth, markets and structure
Occasional, considered commentary from the Tigris team. For general information only — nothing here is investment advice.
Australian Private Credit: Monthly Liquidity, Two-Year Buildings
Australia's A$250 billion private credit market is facing its first real test. The problem is not credit quality. It is funds offering monthly liquidity against loans repaid only…
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The US-Japan yen intervention: what actually happened
The joint US–Japan yen intervention of late July 2026 is best understood as a defence of the US Treasury market rather than a rescue of the Japanese currency.…
Fed interest rate outlook 2026: Why We Now Expect Zero to One Hike in 2026
Fed interest rate outlook 2026 The Federal Reserve held the federal funds rate at 3.50%-3.75% in July, but the decision was not a neutral pause. Three policymakers voted…
The AI investment cycle is entering a more demanding phase
The AI Boom Is Becoming a Balance-Sheet Test For much of the artificial intelligence boom, capital expenditure was interpreted as a signal of strength. The companies buying the…
Asia Private Credit’s Fundraising Slump Is Not the Same as an Opportunity Slump
Asia private credit Asia private credit fundraising has collapsed to its weakest level in more than a decade, but a fall in capital raised is not evidence that…
Private Credit PIK Loans Were Underwritten for a Rate Cut. The Market Is Now Pricing a Hike.
Private credit PIK loans are increasingly created by amendment rather than at origination, and almost all of those amendments were underwritten on the assumption that interest rates would…
When the Price of Intelligence Falls: What Cheap Chinese AI Would Mean for US Growth
The Fear, Stated Plainly Cheap open-weight Chinese AI models are unlikely to cause a US recession by destroying subscription revenue. That channel is too small. The genuine risk…
Euphoria or Exhaustion? S&P 500 and Nasdaq Hit New Highs — But for How Long?
The Market’s High-Flying Moment On July 24, 2025, both the S&P 500 and Nasdaq Composite closed at all-time highs. For many investors, this milestone is cause for celebration…
U.S. debt and de-dollarization
The Dollar Is Cracking: War, Debt, and the End of U.S. Financial Dominance? In 2025, the world is watching a dangerous convergence: U.S. debt and de-dollarization, with…
Will the U.S. Back Israel? Market Implications of a Defining Choice
The unfolding decision on whether the U.S. backs Israel in escalating tensions with Iran is reverberating across global markets. With former President Trump signaling that his judgment could…
Articles are published for general information only and do not constitute investment, legal or tax advice. Tigris Asset Management Pte. Ltd. holds a Capital Markets Services Licence (CMS101520) issued by the Monetary Authority of Singapore for fund management.