:root{--navy:#0c2340;--ink:#11233f;--muted:#647084;--line:#e5e8ec;--gold:#b68a42;--paper:#fff;--soft:#f7f8fa;--green:#187a42;--red:#c83b2f;--amber:#a66d10}*{box-sizing:border-box}html{scroll-behavior:smooth}body{margin:0;background:#fff;color:var(--ink);font-family:Inter,-apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Arial,sans-serif;-webkit-font-smoothing:antialiased}.container{width:min(1180px,calc(100% - 48px));margin:0 auto}.site-header{position:sticky;top:0;z-index:30;background:rgba(255,255,255,.96);backdrop-filter:blur(10px);border-bottom:1px solid var(--line)}.header-inner{height:84px;display:flex;align-items:center;gap:24px}.brand{display:flex;align-items:center;text-decoration:none;color:var(--navy);white-space:nowrap}.brand-inc{font-family:Georgia,"Times New Roman",serif;font-size:34px;line-height:1}.brand-sep{height:28px;width:1px;background:#ccd2da;margin:0 14px}.brand-insights{font-size:14px;letter-spacing:.22em;color:var(--gold)}.strap{font-size:11px;letter-spacing:.15em;color:var(--muted);white-space:nowrap}.nav{margin-left:auto;display:flex;gap:34px}.nav a{font-size:13px;text-decoration:none;color:var(--ink)}.nav a:hover{color:var(--gold)}.menu-toggle{display:none;margin-left:auto;border:0;background:none;font:inherit;color:var(--ink)}.hero{padding:58px 0 50px}.hero-grid{display:grid;grid-template-columns:1.05fr 1.35fr;gap:64px;align-items:end}.kicker{display:flex;gap:24px;font-size:12px;letter-spacing:.08em;color:var(--muted);margin-bottom:18px}.kicker span:first-child{color:var(--gold);font-weight:700}.hero h1{font-family:Georgia,"Times New Roman",serif;font-size:54px;line-height:1.08;letter-spacing:-.025em;font-weight:600;margin:0 0 20px}.hero-copy>p{font-size:18px;line-height:1.7;color:#4d5868;max-width:680px;margin:0 0 24px}.text-link{font-size:13px;font-weight:700;text-transform:uppercase;letter-spacing:.06em;color:var(--navy);text-decoration:none;border-bottom:1px solid var(--gold);padding-bottom:6px}.text-link span{margin-left:10px}.market-board{display:grid;grid-template-columns:repeat(2,1fr);border-top:1px solid var(--line);border-left:1px solid var(--line)}.market-cell{padding:24px 26px 22px;border-right:1px solid var(--line);border-bottom:1px solid var(--line);min-height:132px}.market-cell span{display:block;font-size:15px;font-weight:700}.market-cell strong{display:block;font-family:Georgia,"Times New Roman",serif;font-size:31px;font-weight:500;margin:13px 0 12px}.market-cell small{font-size:12px;color:var(--muted)}.summary-band{border-top:1px solid var(--line);border-bottom:1px solid var(--line);padding:34px 0}.summary-grid{display:grid;grid-template-columns:1.65fr .75fr;gap:60px}.section-label{font-size:12px;font-weight:700;letter-spacing:.12em;color:#3b4655;margin-bottom:14px}.takeaway{display:grid;grid-template-columns:58px 1fr;gap:24px;padding:16px 0;border-top:1px solid var(--line)}.takeaway>span,.number{font-family:Georgia,"Times New Roman",serif;color:var(--gold);font-size:25px}.takeaway h3{font-size:15px;margin:0 0 4px}.takeaway p{font-size:14px;line-height:1.5;color:#3d4958;margin:0}.regime-card{border-left:1px solid var(--line);padding-left:34px}.regime-row{display:flex;justify-content:space-between;gap:20px;padding:12px 0;border-top:1px solid var(--line);font-size:14px}.regime-row b{font-size:11px;letter-spacing:.04em}.good{color:var(--green)}.bad{color:var(--red)}.warn{color:var(--amber)}.watch{border-top:1px solid var(--line);padding-top:20px;margin-top:10px}.watch h4{font-size:12px;letter-spacing:.1em;margin:0 0 9px}.watch p{font-size:14px;color:var(--muted);line-height:1.6;margin:0}.article-wrap{padding:76px 0}.article-layout{display:grid;grid-template-columns:minmax(0,1fr) 250px;gap:80px}.article{max-width:800px}.article-header{padding-bottom:30px;border-bottom:1px solid var(--line)}.article-header h2,.archive h2,.about h2{font-family:Georgia,"Times New Roman",serif;font-weight:500;font-size:42px;line-height:1.15;margin:0}.article-lead{font-family:Georgia,"Times New Roman",serif;font-size:22px;line-height:1.6;color:#3c4858}.article-section{display:grid;grid-template-columns:56px 1fr;gap:28px;padding:40px 0;border-bottom:1px solid var(--line)}.article-section h3,.bottom-line h3{font-family:Georgia,"Times New Roman",serif;font-size:29px;line-height:1.2;margin:0 0 18px}.article-section p,.bottom-line p{font-family:Georgia,"Times New Roman",serif;font-size:18px;line-height:1.78;color:#344255;margin:0 0 18px}.article-section blockquote{margin:26px 0;padding:4px 0 4px 22px;border-left:2px solid var(--gold);font-family:Georgia,"Times New Roman",serif;font-size:23px;line-height:1.5}.logic{margin:24px 0;padding:18px 0;border-top:1px solid var(--line);border-bottom:1px solid var(--line);font-size:14px;line-height:1.7;font-weight:600;letter-spacing:.01em}.bottom-line{margin-top:44px;padding:34px;background:var(--navy);color:white}.bottom-line .section-label{color:#d1b073}.bottom-line h3{color:white}.bottom-line p{color:#dce4ed}.sources{padding-top:26px;font-size:12px;line-height:1.7;color:var(--muted)}.article-nav .sticky{position:sticky;top:120px;border-top:1px solid var(--ink);padding-top:18px}.article-nav a{display:block;text-decoration:none;color:var(--muted);font-size:13px;padding:10px 0;border-bottom:1px solid var(--line)}.article-nav a:hover{color:var(--ink)}.archive{background:var(--soft);padding:64px 0}.archive-head{display:flex;justify-content:space-between;align-items:end;margin-bottom:28px}.archive-grid{display:grid;grid-template-columns:repeat(3,1fr);gap:18px}.archive-card{background:white;border:1px solid var(--line);padding:24px;text-decoration:none;color:var(--ink);min-height:170px;display:flex;flex-direction:column}.archive-card time{font-size:11px;color:var(--muted);text-transform:uppercase;letter-spacing:.08em}.archive-card h3{font-family:Georgia,"Times New Roman",serif;font-size:22px;line-height:1.25;margin:14px 0 10px}.archive-card p{font-size:13px;color:var(--muted);line-height:1.5;margin:0}.archive-card .more{margin-top:auto;padding-top:22px;font-size:12px;font-weight:700;color:var(--navy)}.about{padding:64px 0;border-top:1px solid var(--line)}.about-grid{display:grid;grid-template-columns:1fr 1fr;gap:70px;align-items:start}.about p{font-family:Georgia,"Times New Roman",serif;font-size:20px;line-height:1.65;color:#4b5868;margin:24px 0 0}.footer{background:var(--navy);color:white;padding:28px 0}.footer-inner{display:flex;justify-content:space-between;align-items:center;font-size:12px;color:#cbd5e1}.footer .brand-inc{font-size:27px;color:white}.footer .brand-insights{margin-left:7px}.footer a{color:inherit}@media(max-width:900px){.strap{display:none}.nav{display:none;position:absolute;top:84px;left:0;right:0;background:white;border-bottom:1px solid var(--line);padding:18px 24px;flex-direction:column;gap:18px}.nav.open{display:flex}.menu-toggle{display:block}.hero-grid,.summary-grid,.article-layout,.about-grid{grid-template-columns:1fr}.hero-grid{gap:38px}.hero h1{font-size:45px}.article-nav{display:none}.regime-card{border-left:0;border-top:1px solid var(--line);padding-left:0;padding-top:26px}.archive-grid{grid-template-columns:1fr 1fr}.article{max-width:none}}@media(max-width:620px){.container{width:min(100% - 32px,1180px)}.header-inner{height:72px}.brand-inc{font-size:29px}.brand-insights{font-size:12px}.brand-sep{height:24px;margin:0 10px}.hero{padding:38px 0}.hero h1{font-size:37px}.hero-copy>p{font-size:16px}.market-board{grid-template-columns:1fr 1fr}.market-cell{padding:18px 16px;min-height:112px}.market-cell strong{font-size:24px}.summary-band{padding:26px 0}.takeaway{grid-template-columns:42px 1fr;gap:14px}.article-wrap{padding:48px 0}.article-header h2,.archive h2,.about h2{font-size:34px}.article-lead{font-size:20px}.article-section{grid-template-columns:1fr;gap:8px;padding:30px 0}.article-section .number{font-size:19px}.article-section h3,.bottom-line h3{font-size:26px}.article-section p,.bottom-line p{font-size:17px}.bottom-line{padding:26px}.archive-grid{grid-template-columns:1fr}.about-grid{gap:8px}.footer-inner{align-items:flex-start;flex-direction:column;gap:12px}.kicker{gap:10px;flex-direction:column}.market-cell span{font-size:13px}}@media(prefers-reduced-motion:reduce){html{scroll-behavior:auto}}