@import url('https://fonts.googleapis.com/css2?family=DM+Mono:wght@400;500&family=Manrope:wght@400;500;600;700;800&family=Playfair+Display:ital,wght@0,500;0,600;0,700;1,500;1,600&display=swap');
:root{--ink:#0b1216;--deep:#112d2a;--paper:#f2f1eb;--line:#cacbc3;--mint:#9cd5bd;--lime:#d4e48f;--accent:#de7049;--muted:#52615f;--serif:'Playfair Display',Georgia,serif;--sans:Manrope,Arial,sans-serif;--mono:'DM Mono',monospace}*{box-sizing:border-box}html{scroll-behavior:smooth}body{margin:0;color:var(--ink);background:var(--paper);font:15px/1.5 var(--sans)}.wrap{width:min(1360px,calc(100% - 64px));margin:auto}.skip{position:fixed;top:-5rem;left:1rem;z-index:50;background:#fff;color:#000;padding:10px}.skip:focus{top:1rem}.topline{background:var(--ink);color:#dce8e2;font:10px var(--mono);letter-spacing:.08em}.topline .wrap{height:31px;display:flex;justify-content:space-between;align-items:center}.header{background:rgba(242,241,235,.97);position:sticky;top:0;z-index:20;border-bottom:1px solid var(--line)}.header-main{height:88px;display:flex;align-items:center;justify-content:space-between}.wordmark{display:flex;align-items:center;gap:10px;color:var(--ink);font-size:22px;font-weight:800;letter-spacing:-.07em;text-decoration:none}.wordmark>span:last-child>span{color:#27806b}.mark{width:34px;height:34px;border:2px solid currentColor;border-radius:50%;display:grid;place-items:center;font:500 10px var(--mono);letter-spacing:-.14em}.main-nav{display:flex;align-items:center;gap:27px}.main-nav a,.topic-nav a,footer a{color:inherit;text-decoration:none}.main-nav a{font-size:12px;font-weight:800;text-transform:uppercase;letter-spacing:.08em}.main-nav a:hover,.topic-nav a:hover{color:#27806b}.tools{display:flex;gap:16px;align-items:center}.tools button{border:0;background:transparent;color:var(--ink);cursor:pointer}.search{font-size:27px;line-height:1}.lang{font:500 10px var(--mono);letter-spacing:.1em}.lang small{opacity:.4;margin-left:3px}.menu{display:none;width:27px;padding:4px}.menu i{height:1px;width:100%;background:currentColor;display:block;margin:6px 0}.topic-nav{height:42px;border-top:1px solid var(--line);display:flex;gap:21px;align-items:center;white-space:nowrap;overflow:auto}.topic-nav a{font:500 10px var(--mono);letter-spacing:.035em}.hero{display:grid;grid-template-columns:1.1fr .9fr 32px;min-height:632px;padding:38px 0 42px;position:relative}.hero-image{grid-area:1/1/2/4;min-height:540px;overflow:hidden;background:#10241f}.hero-image img{display:block;width:100%;height:100%;object-fit:cover;filter:saturate(.72) contrast(1.08)}.hero-image:after{content:"";position:absolute;inset:38px 0 42px;background:linear-gradient(90deg,rgba(4,12,12,.78),rgba(4,12,12,.24) 67%,transparent)}.hero-copy{grid-area:1/1;position:relative;z-index:1;align-self:end;color:#fff;padding:48px 0 25px 48px;max-width:700px}.eyebrow{margin:0 0 13px;color:#27806b;font:500 10px var(--mono);letter-spacing:.12em}.hero h1,.section h2,.national-section h2,.newsletter h2{font:600 clamp(42px,5vw,78px)/.97 var(--serif);letter-spacing:-.055em;margin:0}.hero h1 em,.section h2 em,.national-section h2 em{font-weight:500}.intro{max-width:535px;margin:24px 0 27px;color:#e9f0ec;font-size:16px;line-height:1.7}.hero-actions{display:flex;align-items:center;gap:26px}.button,.outline-button{display:inline-flex;align-items:center;gap:27px;padding:13px 16px;background:#27806b;color:#fff;text-decoration:none;font-size:11px;font-weight:800;text-transform:uppercase;letter-spacing:.06em}.button b,.outline-button b{font-size:18px}.text-link{color:#fff;font-size:11px;font-weight:800;text-transform:uppercase;letter-spacing:.09em}.hero-index{grid-area:1/3;z-index:1;align-self:start;margin-top:15px;color:#fff;display:flex;flex-direction:column;gap:10px;font:500 9px/1.5 var(--mono);letter-spacing:.1em}.hero-index i{width:1px;height:118px;background:#fff;opacity:.6}.signal-bar{background:var(--deep);color:#e3f0eb}.signal-bar .wrap{height:50px;display:flex;align-items:center;justify-content:space-between;font:500 10px var(--mono);letter-spacing:.075em}.signal-bar b{display:inline-block;width:6px;height:6px;border-radius:50%;background:var(--lime);margin-right:8px}.section{padding:108px 0}.section-head{display:grid;grid-template-columns:1fr 1fr;gap:70px;padding-bottom:42px;margin-bottom:30px;border-bottom:1px solid var(--line)}.section-head>p{max-width:510px;margin:auto 0 0;color:var(--muted);font-size:14px;line-height:1.75}.flow-grid{display:grid;grid-template-columns:1fr 1.22fr;gap:75px}.tag{font:500 10px var(--mono);letter-spacing:.1em;color:#27806b}.flow-lead{padding:15px 0}.flow-lead h3{font:600 29px/1.15 var(--serif);letter-spacing:-.035em;margin:15px 0}.flow-lead p{max-width:430px;color:#596762}.flow-lead a,.national-layout a{font-size:11px;font-weight:800;text-transform:uppercase;letter-spacing:.07em;color:var(--ink);text-decoration:none;border-bottom:1px solid var(--ink);padding-bottom:4px}.flow-list{list-style:none;padding:0;margin:0}.flow-list li{display:grid;grid-template-columns:82px 1fr 25px;gap:18px;padding:19px 0;border-top:1px solid var(--line)}.flow-list li:last-child{border-bottom:1px solid var(--line)}.flow-list time{font:500 10px var(--mono);color:#70817a;padding-top:3px}.flow-list b{font-size:11px;text-transform:uppercase;letter-spacing:.05em}.flow-list p{margin:4px 0 0;color:#53615c;font-size:13px}.flow-list li>span{font-size:20px}.market-section{padding:105px 0;background:#10221f;color:#eaf2ed}.section-head.inverse{border-color:#3b5751}.section-head.inverse>p{color:#afc2ba}.inverse .eyebrow{color:var(--mint)}.market-grid{display:grid;grid-template-columns:repeat(4,1fr);border-left:1px solid #3b5751;border-top:1px solid #3b5751}.market-grid article{min-height:335px;padding:24px;display:flex;flex-direction:column;border-right:1px solid #3b5751;border-bottom:1px solid #3b5751}.market-grid article:hover{background:#173a34}.market-grid span{font:500 10px var(--mono);letter-spacing:.08em;color:var(--mint)}.market-grid h3{font:600 28px/1.14 var(--serif);letter-spacing:-.04em;margin:22px 0 14px}.market-grid p{margin:0;color:#b2c5bc;font-size:13px}.market-grid a{margin-top:auto;color:#fff;font-size:11px;font-weight:800;text-decoration:none;text-transform:uppercase;letter-spacing:.08em}.products{padding-bottom:110px}.instrument-grid{display:grid;grid-template-columns:repeat(2,1fr);border-top:1px solid var(--ink)}.instrument-grid a{display:grid;grid-template-columns:46px 1fr 20px;gap:16px;padding:24px 0;color:var(--ink);text-decoration:none;border-bottom:1px solid var(--line)}.instrument-grid a:nth-child(odd){padding-right:36px;border-right:1px solid var(--line)}.instrument-grid a:nth-child(even){padding-left:36px}.instrument-grid a:hover b{color:#27806b}.instrument-grid small{font:500 10px var(--mono);color:#70817a;padding-top:4px}.instrument-grid b{font:600 25px/1.1 var(--serif);letter-spacing:-.035em}.instrument-grid p{margin:5px 0 0;color:#5a6863;font-size:13px}.instrument-grid>span{font-size:19px}.policy-section{padding:84px 0;background:#d9e3dc;border-block:1px solid #afc2b8}.policy-layout{display:grid;grid-template-columns:1fr 1fr;gap:110px}.policy-layout h2{font:600 52px/1.03 var(--serif);letter-spacing:-.055em;margin:0;max-width:620px}.policy-layout>div>p:not(.eyebrow){max-width:560px;margin:21px 0 27px;font-size:15px;line-height:1.75;color:#314641}.light{background:var(--ink);color:#fff}.policy-list{border-top:1px solid #94aba0;align-self:end}.policy-list article{padding:19px 0;border-bottom:1px solid #94aba0;display:grid;gap:5px}.policy-list span{font:500 10px var(--mono);letter-spacing:.09em;color:#43776c}.policy-list b{font:600 20px/1.14 var(--serif);letter-spacing:-.03em}.dossiers{padding-bottom:118px}.dossier-grid{display:grid;grid-template-columns:repeat(2,1fr);border-top:1px solid var(--ink);border-left:1px solid var(--ink)}.dossier{min-height:278px;padding:25px;display:flex;flex-direction:column;justify-content:space-between;color:var(--ink);text-decoration:none;border-right:1px solid var(--ink);border-bottom:1px solid var(--ink);transition:.2s}.dossier:hover{background:var(--ink);color:#fff}.dossier span{font:500 10px var(--mono);letter-spacing:.09em;color:#65766e}.dossier h3{max-width:480px;margin:20px 0;font:600 27px/1.15 var(--serif);letter-spacing:-.035em}.dossier b{font-size:11px;text-transform:uppercase;letter-spacing:.07em}.dossier.primary{background:#27806b;color:#fff}.dossier.primary span{color:#fff}.national-section{padding:90px 0;background:#eeede6;border-block:1px solid var(--line)}.national-layout{display:grid;grid-template-columns:1.1fr .9fr;gap:55px}.national-section h2{font-size:59px;max-width:570px}.national-layout>div:nth-child(2){align-self:end;max-width:500px}.national-layout p{font:500 19px/1.55 var(--serif);margin:0 0 22px}.national-tags{grid-column:1/-1;border-top:1px solid var(--line);padding-top:20px;display:flex;justify-content:space-between;flex-wrap:wrap;gap:12px;font:500 10px var(--mono);letter-spacing:.08em}.research-section{background:#111514;color:#e9eee9;padding:104px 0}.research-grid{display:grid;grid-template-columns:1.2fr .8fr;gap:40px}.research-main{min-height:395px;padding:26px;display:flex;flex-direction:column;justify-content:end;text-decoration:none;color:#fff;background:radial-gradient(circle at 74% 15%,#2e6d5e,transparent 28%),linear-gradient(135deg,#1d3c36,#111514 75%);position:relative;overflow:hidden}.research-main:before{content:"";position:absolute;width:55%;aspect-ratio:1;border:1px solid rgba(255,255,255,.15);border-radius:50%;right:-7%;top:-35%;box-shadow:0 0 0 55px rgba(255,255,255,.025),0 0 0 110px rgba(255,255,255,.02)}.research-main>*{position:relative}.play{width:48px;height:48px;border:1px solid #fff;border-radius:50%;display:grid;place-items:center;margin-bottom:auto}.research-main span{font:500 10px var(--mono);letter-spacing:.1em;color:#b7dfd1}.research-main h3{max-width:580px;margin:12px 0;font:600 37px/1.08 var(--serif);letter-spacing:-.04em}.research-main b{font-size:11px;text-transform:uppercase;letter-spacing:.07em}.research-list{border-top:1px solid #46514c}.research-list a{display:grid;grid-template-columns:40px 1fr 22px;gap:12px;align-items:center;padding:25px 0;color:#fff;text-decoration:none;border-bottom:1px solid #46514c}.research-list span{font:500 10px var(--mono);color:#86a89b}.research-list p{margin:0;font:600 21px/1.1 var(--serif)}.research-list i{font-style:normal}.disclaimer{background:#dce7cf;padding:24px 0}.disclaimer .wrap{display:grid;grid-template-columns:180px 1fr;gap:35px;align-items:start}.disclaimer b{font:500 10px var(--mono);letter-spacing:.11em}.disclaimer p{max-width:850px;margin:0;font-size:12px;line-height:1.7;color:#46554d}.newsletter{padding:64px 0;background:#27806b;color:#fff}.newsletter-inner{display:flex;align-items:center;justify-content:space-between;gap:60px}.newsletter h2{font-size:46px}.newsletter .eyebrow{color:#fff}.newsletter form{width:min(520px,100%);display:grid;grid-template-columns:1fr auto}.newsletter input{height:48px;border:0;padding:0 16px;font:14px var(--sans)}.newsletter button{border:1px solid var(--ink);background:var(--ink);color:#fff;padding:0 20px;text-transform:uppercase;font:800 10px var(--sans);letter-spacing:.07em}.newsletter small{grid-column:1/-1;margin-top:10px;font-size:10px;opacity:.85}footer{padding:59px 0 20px;background:var(--ink);color:#e7ede9}.footer-grid{display:grid;grid-template-columns:2fr repeat(3,1fr);gap:30px}.footer-grid>div{display:flex;flex-direction:column;gap:7px}.footer-grid b{margin-bottom:5px;color:#8ab4a5;font:500 10px var(--mono);letter-spacing:.1em}.footer-grid a{font-size:12px;color:#d8e1dc}.footer-grid .wordmark{color:#fff}.legal{border-top:1px solid #3d5049;margin-top:46px;padding-top:16px;display:flex;justify-content:space-between;color:#9aaba3;font:500 9px var(--mono);letter-spacing:.08em}.sr-only{position:absolute;width:1px;height:1px;overflow:hidden;clip:rect(0,0,0,0)}
@media(max-width:900px){.wrap{width:min(100% - 34px,1360px)}.topline .wrap span:last-child,.main-nav,.topic-nav{display:none}.header-main{height:67px}.menu{display:block}.hero{display:block;min-height:620px;padding:0}.hero-image{height:620px;min-height:0}.hero-image:after{inset:0;background:linear-gradient(0deg,rgba(4,12,12,.78),rgba(4,12,12,.05) 80%)}.hero-copy{position:absolute;left:0;bottom:0;padding:30px 18px;max-width:100%}.hero h1{font-size:47px}.intro{font-size:14px}.hero-index{display:none}.signal-bar .wrap{gap:8px;font-size:8px}.signal-bar .wrap span:nth-child(2),.signal-bar .wrap span:nth-child(3){display:none}.section{padding:67px 0}.section-head,.flow-grid,.policy-layout,.national-layout,.research-grid,.newsletter-inner{display:grid;grid-template-columns:1fr;gap:22px}.section-head{padding-bottom:24px}.section-head h2{font-size:48px}.flow-grid{gap:25px}.market-section{padding:67px 0}.market-grid{grid-template-columns:1fr 1fr}.market-grid article{min-height:260px}.instrument-grid{grid-template-columns:1fr}.instrument-grid a:nth-child(odd){padding-right:0;border-right:0}.instrument-grid a:nth-child(even){padding-left:0}.policy-section{padding:60px 0}.policy-layout h2,.national-section h2{font-size:48px}.national-section{padding:60px 0}.national-tags{justify-content:flex-start}.dossier-grid{grid-template-columns:1fr}.dossier{min-height:235px}.research-main h3{font-size:31px}.disclaimer .wrap{grid-template-columns:1fr;gap:8px}.newsletter h2{font-size:42px}.footer-grid{grid-template-columns:repeat(2,1fr);gap:32px}.footer-grid .wordmark{grid-column:1/-1}.legal{display:block;line-height:2}.legal span{display:block}.hero-actions{gap:16px}.button{gap:10px}}
@media(max-width:550px){.market-grid{grid-template-columns:1fr}.market-grid article{min-height:225px}.instrument-grid b{font-size:22px}}
.back-link{color:var(--ink);font:700 10px var(--mono);text-decoration:none;letter-spacing:.08em}.page-main{padding:93px 0 120px}.page-main h1{max-width:850px;margin:0;font:600 clamp(50px,7vw,94px)/.94 var(--serif);letter-spacing:-.065em}.page-main h1 em{font-weight:500}.page-intro{max-width:760px;margin:29px 0 52px;color:#4f5e58;font-size:18px;line-height:1.7}.flow-tabs{display:flex;gap:8px;flex-wrap:wrap;margin:0 0 26px}.flow-tabs button{border:1px solid var(--line);background:transparent;padding:10px 13px;color:var(--ink);font:500 10px var(--mono);letter-spacing:.05em}.flow-tabs .active{background:var(--ink);color:#fff;border-color:var(--ink)}.signal-list{border-top:1px solid var(--ink)}.signal-list article{padding:33px 0;border-bottom:1px solid var(--line);display:grid;grid-template-columns:170px 1fr 220px;gap:24px;align-items:start}.signal-list time{padding-top:8px;color:#4d806f;font:500 10px var(--mono);letter-spacing:.08em}.signal-list h2{margin:0;font:600 31px/1.1 var(--serif);letter-spacing:-.04em}.signal-list p{grid-column:2;color:#586760;margin:-12px 0 0;font-size:14px}.signal-list a{grid-column:3;grid-row:1/3;align-self:end;color:var(--ink);font-size:10px;font-weight:800;text-decoration:none;text-transform:uppercase;letter-spacing:.07em}.market-table{border-top:1px solid var(--ink)}.market-table>div{display:grid;grid-template-columns:240px 1fr 20px;gap:20px;padding:25px 0;border-bottom:1px solid var(--line);align-items:center}.market-table b{font:600 27px var(--serif);letter-spacing:-.035em}.market-table span{color:#56655f}.market-table i{font-style:normal;font-size:20px}.page-note{margin-top:24px;color:#6a776f;font-size:11px}.library-grid{display:grid;grid-template-columns:repeat(3,1fr);border-left:1px solid var(--ink);border-top:1px solid var(--ink)}.library-grid a{min-height:260px;padding:23px;color:var(--ink);text-decoration:none;border-right:1px solid var(--ink);border-bottom:1px solid var(--ink)}.library-grid a:hover{background:#d9e3dc}.library-grid span,.research-cards span{color:#287c69;font:500 10px var(--mono);letter-spacing:.09em}.library-grid h2{margin:64px 0 10px;font:600 28px/1.1 var(--serif);letter-spacing:-.04em}.library-grid p{margin:0;color:#53615b;font-size:13px}.research-cards{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}.research-cards article{min-height:310px;padding:25px;background:#173a34;color:#fff;display:flex;flex-direction:column}.research-cards article:nth-child(2){background:#274e43}.research-cards article:nth-child(3){background:#0d1816}.research-cards h2{margin:auto 0 12px;font:600 31px/1.08 var(--serif);letter-spacing:-.045em}.research-cards p{margin:0;color:#c3d1ca;font-size:13px}@media(max-width:900px){.page-main{padding:60px 0 80px}.page-intro{font-size:16px}.signal-list article{grid-template-columns:1fr;gap:10px}.signal-list p,.signal-list a{grid-column:auto;grid-row:auto;margin:0}.market-table>div{grid-template-columns:1fr 20px}.market-table span{grid-column:1}.library-grid,.research-cards{grid-template-columns:1fr}.library-grid a{min-height:210px}.library-grid h2{margin:38px 0 10px}}


