Every post tagged Capital Markets.
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The AI market, often mistaken for a thriving ecosystem, reveals itself as a closed loop of subsidized costs and rotating capital that may soon face the reality of rising prices and constrained innovation.
Market makers are often described as neutral referees — silent guardians of liquidity. But neutrality is an illusion. This essay explores spreads, inventory balancing, OTC desks, adverse selection, and hedging to show how dealers shape price through vested interest. To see the hidden hand is the first step in no longer being led by it.
