Geolocated open-source imagery identified North Korean M1989 Koksan 170mm self-propelled howitzers on Russian railways near Krasnoyarsk last week, indicating that Pyongyang has stepped up its tactical support for the Kremlin These North Korean systems are formidable, as artillery has traditionally determined the conventional military balance on the

square kilometers to more than double that area in just a few weeks. The Ukrainian planners also likely assumed that they could make it far enough into Russian territory to threaten logistical lines and necessary electrical and gas hubs supplying troops in Ukraine. Since Ukrainian forces have been able to destroy several critical Russian bridges th

Though cross-strait divergence is deepening, whether another Taiwan Strait crisis will happen depends on US actions. Unable to change Taiwanese public opinion in the short term, Beijing is more concerned about Washington amplifyinginternationalisation. Under President Joe Biden, former US Speaker Nancy Pelosi’s Taiwan visit in August 2022 trigger

Undeniably, participants in the commercial real estate market—apartment bridge lenders in particular—are relying on loose monetary policy for their immediate salvation. They may get their wish. While Treasury rates have moved stubbornly higher, market forces only mean so much if the Fed decides to supplement rate cuts with purchases of treasuri

but were also used in financing other commercial real estate sectors including office, retail, hotel, industrial, and self-storage Most of the current batch of bridge loans originated in the 2020-2022 period—when benchmark rates were near zero and commercial real estate prices were peaking—and carried maturities of three to five years. Benchmar