While major prepayment models produce reasonable forecasts for broad segments of the mortgage market, they often have shortcomings. This is how Voya’s mortgage derivatives team exploited one structural misvaluation.
The first phase of the AI trade rewarded broad calls: “Buy power!” “Sell software!” The next phase will require much more discrimination across business models, capital structures, and industries.
Data center spending has become such a force that it’s no longer simply a tech story—it’s headline news. But how protected are investors from dotcom-style setbacks?
The defense sector is undergoing a structural realignment, catalyzed by geopolitical volatility, technological disruption, and shifting transatlantic security dynamics.