.mkt-morning-brief{--bronze:#a86b2a;--bronze-dark:#8d561e;--ink:#111315;--muted:#55585c;--line:#e8ddd0;--paper:#fbfaf8;--warm:#f7f3ed;--serif:Georgia,"Times New Roman",serif;--sans:Inter,Arial,Helvetica,sans-serif}.mkt-morning-brief *{box-sizing:border-box}.mkt-morning-brief{scroll-behavior:smooth;margin:0;color:var(--ink);background:var(--paper);font-family:var(--sans);-webkit-font-smoothing:antialiased}.mkt-morning-brief a{color:inherit;text-decoration:none}.mkt-morning-brief .site-header{height:90px;display:flex;align-items:center;justify-content:space-between;padding:0 3.2vw;border-bottom:1px solid #eee8e1;background:rgba(251,250,248,.96);position:sticky;top:0;z-index:50}.mkt-morning-brief .brand-name{font-family:var(--serif);font-size:19px;letter-spacing:.16em}.mkt-morning-brief .brand-tag{font-size:9px;letter-spacing:.22em;color:var(--bronze);margin-top:5px}.mkt-morning-brief nav{display:flex;align-items:center;gap:40px;font-family:var(--serif);font-size:12px;letter-spacing:.16em;text-transform:uppercase}.mkt-morning-brief nav a.active{color:var(--bronze);border-bottom:1px solid var(--bronze);padding-bottom:8px}.mkt-morning-brief .cta{background:linear-gradient(90deg,#9d6427,#b17836);color:#fff;padding:18px 24px;border-radius:2px;font-size:12px;letter-spacing:.06em;text-transform:uppercase}.mkt-morning-brief .page{max-width:1500px;margin:auto;padding:0 28px 38px}.mkt-morning-brief .hero{display:grid;grid-template-columns:minmax(260px,360px) minmax(520px,760px);gap:56px;align-items:center;justify-content:center;padding:34px 0 54px;min-height:1180px}.mkt-morning-brief .eyebrow{font-family:var(--serif);font-size:15px;letter-spacing:.16em;text-transform:uppercase;color:#292929;margin-bottom:24px}.mkt-morning-brief h1{font-family:var(--serif);font-size:54px;line-height:1.16;font-weight:400;margin:0 0 25px;letter-spacing:-.025em}.mkt-morning-brief h1 em{color:var(--bronze);font-weight:400}.mkt-morning-brief .hero-copy{font-size:16px;line-height:1.8;color:#333;max-width:315px}.mkt-morning-brief .rule{width:52px;height:1px;background:var(--bronze);margin:28px 0}.mkt-morning-brief .meta-row{display:flex;gap:14px;align-items:center;font-size:14px;line-height:1.6}.mkt-morning-brief .meta-icon{width:46px;height:46px;border:1px solid var(--bronze);border-radius:50%;display:grid;place-items:center;color:var(--bronze);font-size:20px}.mkt-morning-brief .download{display:inline-flex;align-items:center;gap:13px;margin-top:32px;border:1px solid var(--bronze);padding:18px 22px;color:var(--bronze-dark);font-size:12px;line-height:1.4;letter-spacing:.08em;text-transform:uppercase;background:#fff}.mkt-morning-brief .brief-shell{position:relative;width:min(100%,610px);aspect-ratio:1021/2018;background:white;box-shadow:0 18px 35px rgba(45,35,24,.16);overflow:hidden;border:1px solid #e6ded4}.mkt-morning-brief .brief-preview-image{display:block;width:100%;height:100%;object-fit:contain;background:#fff}.mkt-morning-brief .explore{border:1px solid var(--line);background:linear-gradient(140deg,#fbfaf8,#f8f4ee);padding:34px 34px 0;margin-bottom:18px;overflow:hidden}.mkt-morning-brief .section-heading{text-align:center;margin-bottom:30px}.mkt-morning-brief .section-heading h2{font-family:var(--serif);font-weight:400;font-size:21px;letter-spacing:.14em;text-transform:uppercase;margin:0 0 10px}.mkt-morning-brief .section-heading h2:after,.mkt-morning-brief .section-heading h2:before{content:"";display:inline-block;width:30px;height:1px;background:var(--bronze);vertical-align:middle;margin:0 18px}.mkt-morning-brief .section-heading p{margin:0;color:#424242;font-size:15px}.mkt-morning-brief .walkthrough{display:grid;grid-template-columns:190px minmax(300px,420px) minmax(430px,680px);gap:30px;align-items:start}.mkt-morning-brief .steps{padding:12px 0}.mkt-morning-brief .step{display:flex;gap:14px;align-items:center;padding:12px 0;cursor:pointer;font-size:14px}.mkt-morning-brief .step-num{width:28px;height:28px;border:1px solid #c8a780;border-radius:50%;display:grid;place-items:center;font-size:12px;background:#fff}.mkt-morning-brief .step.active{color:var(--bronze-dark);font-weight:600}.mkt-morning-brief .step.active .step-num{background:var(--bronze);border-color:var(--bronze);color:#fff}.mkt-morning-brief .copy-card{background:#fff;border:1px solid #dfd2c3;padding:26px 24px;min-height:460px}.mkt-morning-brief .copy-title{display:flex;align-items:flex-start;gap:13px;margin-bottom:18px}.mkt-morning-brief .copy-title .badge{background:var(--bronze);color:#fff;width:24px;height:24px;display:grid;place-items:center;font-size:12px}.mkt-morning-brief .copy-title h3{font-family:var(--serif);font-size:18px;letter-spacing:.08em;text-transform:uppercase;margin:0 0 5px}.mkt-morning-brief .copy-kicker{font-size:13px;color:#333}.mkt-morning-brief .copy-card p{font-size:14px;line-height:1.7;color:#303236}.mkt-morning-brief .why{color:var(--bronze-dark);font-weight:600;margin-top:17px}.mkt-morning-brief .term-box{border:1px solid #eadfd3;padding:12px;margin-top:20px}.mkt-morning-brief .term-label{font-size:10px;color:#7a5a37;margin-bottom:9px}.mkt-morning-brief .pills{display:flex;flex-wrap:wrap;gap:8px}.mkt-morning-brief .pill{border:1px solid #dfc8ad;padding:7px 9px;font-size:9px;text-transform:uppercase;color:#8a5b28;background:#fff}.mkt-morning-brief .controls{display:flex;justify-content:space-between;gap:10px;margin-top:20px}.mkt-morning-brief .controls button{border:1px solid #e1d5c8;background:#fff;padding:12px 15px;font-family:var(--sans);cursor:pointer;color:#777}.mkt-morning-brief .controls button.next{background:linear-gradient(90deg,#9d6427,#b17836);color:#fff;border:0}.mkt-morning-brief .focus-wrap{position:relative;width:100%;aspect-ratio:1021/2018;background:#fff;overflow:hidden;border:1px solid #e7ded3}.mkt-morning-brief .dim{position:absolute;inset:0;background:rgba(255,255,255,.72);pointer-events:none}.mkt-morning-brief .highlight{position:absolute;border:2px solid var(--bronze);box-shadow:0 4px 16px rgba(126,79,29,.18);background:rgba(255,255,255,.02);transition:all .35s ease;pointer-events:none}.mkt-morning-brief .glossary{border:1px solid var(--line);padding:24px 20px 28px;margin:18px 0;background:#fbfaf8}.mkt-morning-brief .glossary-grid{display:grid;grid-template-columns:repeat(6,1fr);gap:14px;margin-top:20px}.mkt-morning-brief .term-card{background:#fff;border:1px solid #e6ddd3;padding:18px 16px;min-height:140px}.mkt-morning-brief .term-card h4{color:var(--bronze-dark);text-transform:uppercase;font-size:13px;letter-spacing:.04em;margin:0 0 12px}.mkt-morning-brief .term-card strong{display:block;font-size:12px;margin-bottom:5px}.mkt-morning-brief .term-card p{font-size:11px;line-height:1.6;color:#4e4e4e;margin:0}.mkt-morning-brief .bottom-cta{display:flex;align-items:center;justify-content:space-between;border:1px solid var(--line);padding:20px 26px;background:#fff}.mkt-morning-brief .bottom-copy{display:flex;align-items:center;gap:18px}.mkt-morning-brief .bottom-copy h3{font-family:var(--serif);font-weight:400;font-size:18px;margin:0 0 5px}.mkt-morning-brief .bottom-copy p{font-size:12px;margin:0;color:#555}.mkt-morning-brief .bottom-btn{min-width:360px;justify-content:center;margin:0;color:#fff;border:0;background:linear-gradient(90deg,#9d6427,#b17836)}@media(max-width:1050px){.mkt-morning-brief .site-header nav{gap:18px}.mkt-morning-brief .hero{grid-template-columns:1fr;max-width:760px;margin:auto}.mkt-morning-brief .walkthrough{grid-template-columns:160px 1fr}.mkt-morning-brief .focus-wrap{grid-column:1/-1;max-width:620px;margin:auto}.mkt-morning-brief .glossary-grid{grid-template-columns:repeat(3,1fr)}}@media(max-width:700px){.mkt-morning-brief .site-header{padding:0 16px}.mkt-morning-brief nav .cta,.mkt-morning-brief nav a:not(.active){display:none}.mkt-morning-brief .brand-name{font-size:14px}.mkt-morning-brief .page{padding:0 14px 28px}.mkt-morning-brief h1{font-size:42px}.mkt-morning-brief .walkthrough{grid-template-columns:1fr}.mkt-morning-brief .steps{display:grid}.mkt-morning-brief .glossary-grid,.mkt-morning-brief .steps{grid-template-columns:repeat(2,1fr)}.mkt-morning-brief .bottom-cta{display:block}.mkt-morning-brief .bottom-btn{width:100%;min-width:0;margin-top:18px}.mkt-morning-brief .hero{padding-top:28px}}.mkt-morning-brief .shell{width:min(1440px,calc(100% - 64px));margin-inline:auto}.mkt-morning-brief .site-header{position:relative;z-index:10;background:#fff;height:auto;padding:0}.mkt-morning-brief .header-inner{min-height:120px;display:flex;align-items:center;justify-content:space-between;gap:48px;border-bottom:0}.mkt-morning-brief .site-header nav{display:flex;gap:42px;align-items:center;font-family:Inter,Arial,sans-serif;text-transform:none;letter-spacing:normal}.mkt-morning-brief .site-header nav a{text-decoration:none;font-size:15px;padding:8px 0;position:relative;color:#080808}.mkt-morning-brief .site-header nav a.active{color:#080808;border-bottom:0;padding-bottom:8px}.mkt-morning-brief .site-header nav a.active:after{content:"";position:absolute;height:1px;background:#b66a22;left:0;right:0;bottom:0}@media (max-width:1050px){.mkt-morning-brief .site-header nav{gap:22px}}@media (max-width:760px){.mkt-morning-brief .shell{width:min(100% - 28px,680px)}.mkt-morning-brief .header-inner{min-height:92px;align-items:flex-start;padding:18px 0 14px}.mkt-morning-brief .site-header nav{display:none}}.mkt-morning-brief .explore-v2{padding:38px 42px 44px}.mkt-morning-brief .walkthrough-v2{display:grid;grid-template-columns:178px minmax(0,1fr);gap:30px;align-items:start}.mkt-morning-brief .section-rail{position:sticky;top:150px;display:flex;flex-direction:column;gap:4px;padding-top:8px}.mkt-morning-brief .rail-step{appearance:none;width:100%;border:0;background:transparent;display:grid;grid-template-columns:34px 1fr;align-items:center;gap:12px;text-align:left;padding:11px 8px;color:#8a8178;font:inherit}.mkt-morning-brief .rail-step:disabled{opacity:.52}.mkt-morning-brief .rail-step.active{color:var(--bronze-dark)}.mkt-morning-brief .rail-number{width:30px;height:30px;border:1px solid #cdb18f;border-radius:50%;display:grid;place-items:center;font-size:12px;background:#fff}.mkt-morning-brief .rail-step.active .rail-number{background:var(--bronze);border-color:var(--bronze);color:#fff;box-shadow:0 5px 14px rgba(168,107,42,.2)}.mkt-morning-brief .rail-label{font-size:13px;line-height:1.25}.mkt-morning-brief .rail-step.active .rail-label{font-weight:600}.mkt-morning-brief .brief-stage{position:relative;width:100%;max-width:980px;margin:0 auto;aspect-ratio:1021/2018;overflow:hidden;background:#fff;border:1px solid #dfd7cd;box-shadow:0 18px 42px rgba(51,41,29,.14)}.mkt-morning-brief .brief-stage-image{display:block;width:100%;height:100%;object-fit:contain;background:#fff}.mkt-morning-brief .section-focus{position:absolute;left:1.4%;width:97.2%;border:2px solid rgba(168,107,42,.88);border-radius:8px;box-shadow:0 0 0 4px rgba(176,141,87,.1),0 8px 22px rgba(103,68,30,.12);pointer-events:none}.mkt-morning-brief .inline-explanation{position:absolute;left:3.2%;width:93.6%;z-index:4;border:1px solid rgba(168,107,42,.48);border-top:2px solid var(--bronze);border-radius:0 0 10px 10px;background:rgba(250,248,244,.82);box-shadow:0 18px 32px rgba(43,35,27,.13)}.mkt-morning-brief .market-context-explanation{top:22.15%}.mkt-morning-brief .inline-explanation-inner{padding:28px 30px 24px}.mkt-morning-brief .explanation-heading-row{display:flex;align-items:flex-start;justify-content:space-between;gap:24px;margin-bottom:20px}.mkt-morning-brief .explanation-step{color:var(--bronze);font-size:11px;font-weight:700;letter-spacing:.2em;margin-bottom:7px}.mkt-morning-brief .inline-explanation h3{margin:0 0 7px;font-family:var(--serif);font-size:26px;font-weight:400;letter-spacing:.02em}.mkt-morning-brief .explanation-kicker{margin:0;color:#47423d;font-size:14px}.mkt-morning-brief .explanation-columns{display:grid;grid-template-columns:1fr 1fr;gap:34px}.mkt-morning-brief .explanation-columns h4{margin:0 0 8px;color:var(--bronze-dark);font-size:11px;letter-spacing:.13em;text-transform:uppercase}.mkt-morning-brief .explanation-columns p{margin:0;color:#2e2d2b;font-size:14px;line-height:1.7}.mkt-morning-brief .explanation-footer{display:flex;align-items:center;flex-wrap:wrap;gap:8px;margin-top:22px;padding-top:16px;border-top:1px solid rgba(168,107,42,.22)}.mkt-morning-brief .key-term-label{color:#6c5b48;font-size:10px;letter-spacing:.12em;text-transform:uppercase;margin-right:4px}.mkt-morning-brief .term-pill{appearance:none;border:1px solid #d8bea0;background:rgba(255,255,255,.78);color:#815326;border-radius:999px;padding:7px 10px;font:inherit;font-size:9px;letter-spacing:.05em;text-transform:uppercase;cursor:pointer}.mkt-morning-brief .term-pill:focus,.mkt-morning-brief .term-pill:hover{background:#fff;border-color:var(--bronze);outline:none}.mkt-morning-brief .term-definition{margin-top:6px;min-height:20px;color:#5a554f;font-size:11px;line-height:1.5}@media(max-width:1000px){.mkt-morning-brief .walkthrough-v2{grid-template-columns:138px minmax(0,1fr);gap:18px}.mkt-morning-brief .inline-explanation-inner{padding:22px}.mkt-morning-brief .explanation-columns{gap:24px}}@media(max-width:760px){.mkt-morning-brief .explore-v2{padding:28px 14px 30px}.mkt-morning-brief .walkthrough-v2{grid-template-columns:1fr}.mkt-morning-brief .section-rail{position:static;display:grid;grid-template-columns:repeat(6,1fr);gap:5px;padding:0}.mkt-morning-brief .rail-step{display:flex;justify-content:center;padding:4px 0}.mkt-morning-brief .rail-label{display:none}.mkt-morning-brief .brief-stage{max-width:100%}.mkt-morning-brief .inline-explanation-inner{padding:16px 17px}.mkt-morning-brief .inline-explanation h3{font-size:20px}.mkt-morning-brief .explanation-kicker{font-size:11px}.mkt-morning-brief .explanation-columns{grid-template-columns:1fr;gap:12px}.mkt-morning-brief .explanation-columns p{font-size:11px;line-height:1.55}.mkt-morning-brief .explanation-footer{margin-top:12px;padding-top:10px;gap:5px}.mkt-morning-brief .term-pill{font-size:7px;padding:5px 7px}.mkt-morning-brief .term-definition{font-size:9px}}.mkt-morning-brief .explore-v2{padding-top:42px}.mkt-morning-brief .rail-step.active{grid-template-columns:34px 1fr;position:relative}.mkt-morning-brief .rail-cue{grid-column:2;margin-top:-6px;color:#9a7448;font-size:8px;font-weight:500;letter-spacing:.14em;text-transform:uppercase}.mkt-morning-brief .brief-stage{isolation:isolate}.mkt-morning-brief .brief-stage-image{position:relative;z-index:1}.mkt-morning-brief .spotlight-mask{position:absolute;z-index:2;background:rgba(250,248,244,.34);opacity:1;pointer-events:none;transition:opacity .5s ease}.mkt-morning-brief .spotlight-top{left:0;top:0;width:100%;height:7.15%}.mkt-morning-brief .spotlight-left{left:0;top:7.15%;width:1.4%;height:14.85%}.mkt-morning-brief .spotlight-right{right:0;top:7.15%;width:1.4%;height:14.85%}.mkt-morning-brief .spotlight-bottom{left:0;width:100%;bottom:0}.mkt-morning-brief .section-focus{z-index:3;border:1px solid rgba(168,107,42,.72);box-shadow:0 0 0 3px rgba(176,141,87,.055),0 8px 24px rgba(103,68,30,.08);background:rgba(255,255,255,.025);transition:border-color .35s ease,box-shadow .35s ease}.mkt-morning-brief .inline-explanation{left:12.5%;width:75%;z-index:5;border:0;border-top:1px solid rgba(168,107,42,.62);border-radius:0 0 7px 7px;background:rgba(250,248,244,.86);backdrop-filter:blur(7px);-webkit-backdrop-filter:blur(7px);box-shadow:0 16px 28px rgba(43,35,27,.1),inset 0 1px 0 rgba(255,255,255,.58);transform:translateY(22px);animation:quietUnfold .78s cubic-bezier(.2,.72,.2,1) .18s forwards}.mkt-morning-brief .inline-explanation:before{content:"";position:absolute;left:50%;top:-9px;width:16px;height:16px;background:rgba(250,248,244,.86);border-left:1px solid rgba(168,107,42,.55);border-top:1px solid rgba(168,107,42,.55);transform:translateX(-50%) rotate(45deg)}.mkt-morning-brief .inline-explanation-inner{position:relative;z-index:1;padding:25px 28px 22px}.mkt-morning-brief .explanation-heading-row{margin-bottom:17px}.mkt-morning-brief .inline-explanation h3{font-size:24px}.mkt-morning-brief .explanation-kicker{max-width:520px}.mkt-morning-brief .explanation-columns{gap:30px}.mkt-morning-brief .explanation-columns p{font-size:13px;line-height:1.65}.mkt-morning-brief .explanation-footer{margin-top:18px;padding-top:14px}@keyframes quietUnfold{0%{opacity:0;transform:translateY(22px)}to{opacity:1;transform:translateY(0)}}.mkt-morning-brief .brief-stage:hover .section-focus{border-color:rgba(168,107,42,.88);box-shadow:0 0 0 4px rgba(176,141,87,.065),0 9px 26px rgba(103,68,30,.1)}.mkt-morning-brief .brief-stage:hover .spotlight-mask{opacity:.88}@media(max-width:900px){.mkt-morning-brief .inline-explanation{left:7%;width:86%}}@media(max-width:760px){.mkt-morning-brief .inline-explanation{left:4%;width:92%;background:rgba(250,248,244,.91)}.mkt-morning-brief .inline-explanation-inner{padding:14px 15px 13px}.mkt-morning-brief .inline-explanation h3{font-size:18px}}.mkt-morning-brief .market-context-focus{left:1.4%;width:97.2%;top:7.15%;height:14.85%;border:1px solid rgba(168,107,42,.82);border-radius:8px 8px 0 0;box-shadow:0 0 0 3px rgba(176,141,87,.06),0 9px 24px rgba(103,68,30,.09);background:rgba(255,255,255,.03)}.mkt-morning-brief .inline-explanation{left:1.4%;width:97.2%;top:22%;border:1px solid rgba(168,107,42,.82);border-top:0;border-radius:0 0 8px 8px;background:rgba(250,248,244,.88);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);box-shadow:0 15px 28px rgba(43,35,27,.11),inset 0 1px 0 rgba(255,255,255,.62);opacity:0;transform:translateY(-8px) scaleY(.96);transform-origin:top center;animation:trueExpandDown .72s cubic-bezier(.2,.72,.2,1) .14s forwards}.mkt-morning-brief .inline-explanation:before{display:none}.mkt-morning-brief .inline-explanation-inner{padding:28px 34px 25px}.mkt-morning-brief .lead-explanation{max-width:760px;margin:0 0 14px;font-family:var(--serif);font-size:24px;line-height:1.35;color:#171717}.mkt-morning-brief .closing-explanation,.mkt-morning-brief .supporting-explanation{max-width:820px;margin:0;font-size:13px;line-height:1.72;color:#30302e}.mkt-morning-brief .closing-explanation{margin-top:10px;color:#4d473f}.mkt-morning-brief .inline-terms{display:flex;align-items:center;flex-wrap:wrap;gap:8px;margin-top:18px;padding-top:14px;border-top:1px solid rgba(168,107,42,.22)}.mkt-morning-brief .inline-terms-label{color:#6c5b48;font-size:10px;letter-spacing:.12em;text-transform:uppercase;margin-right:4px}.mkt-morning-brief .term-definition{flex-basis:100%}.mkt-morning-brief .spotlight-mask{background:rgba(71,62,51,.28)}.mkt-morning-brief .spotlight-bottom{top:22%}@keyframes trueExpandDown{0%{opacity:0;transform:translateY(-8px) scaleY(.96)}to{opacity:1;transform:translateY(0) scaleY(1)}}@media(max-width:760px){.mkt-morning-brief .inline-explanation{left:1.4%;width:97.2%}.mkt-morning-brief .inline-explanation-inner{padding:16px 17px 15px}.mkt-morning-brief .lead-explanation{font-size:18px;line-height:1.3;margin-bottom:10px}.mkt-morning-brief .closing-explanation,.mkt-morning-brief .supporting-explanation{font-size:10px;line-height:1.55}}.mkt-morning-brief .explore-v3{padding:40px 42px 48px}.mkt-morning-brief .walkthrough-v3{display:grid;grid-template-columns:132px minmax(0,1fr);gap:28px;align-items:start}.mkt-morning-brief .chapter-rail{position:sticky;top:145px;display:flex;flex-direction:column;gap:10px;padding-top:4px}.mkt-morning-brief .chapter{appearance:none;border:0;background:transparent;display:flex;align-items:center;gap:10px;padding:4px 0;color:#9b9288;text-align:left;font:inherit}.mkt-morning-brief .chapter-number{font-family:var(--serif);font-size:18px;letter-spacing:.06em}.mkt-morning-brief .chapter-name{font-size:11px;letter-spacing:.04em}.mkt-morning-brief .chapter.active{color:var(--bronze-dark)}.mkt-morning-brief .chapter.active .chapter-number{position:relative}.mkt-morning-brief .chapter.active .chapter-number:after{content:"";position:absolute;left:0;right:0;bottom:-5px;height:1px;background:var(--bronze)}.mkt-morning-brief .paper-unfold{width:100%;max-width:980px;margin:0 auto;background:#fff;border:1px solid #dfd7cd;box-shadow:0 20px 45px rgba(51,41,29,.14);overflow:hidden}.mkt-morning-brief .paper-segment{position:relative;width:100%;overflow:hidden;background:#fff}.mkt-morning-brief .paper-segment img{display:block;width:100%;height:auto}.mkt-morning-brief .paper-top{aspect-ratio:1021/444}.mkt-morning-brief .paper-top img{position:absolute;left:0;top:0}.mkt-morning-brief .active-section-outline{position:absolute;left:1.4%;top:32.5%;width:97.2%;height:67%;border:1px solid rgba(168,107,42,.82);border-bottom:0;border-radius:8px 8px 0 0;box-shadow:0 0 0 3px rgba(176,141,87,.055),0 8px 20px rgba(103,68,30,.07);pointer-events:none}.mkt-morning-brief .paper-explanation{position:relative;background:#fff;border-left:1px solid rgba(168,107,42,.82);border-right:1px solid rgba(168,107,42,.82);border-bottom:1px solid rgba(168,107,42,.82);margin:0 1.4%;opacity:0;transform:scaleY(.94);transform-origin:top;animation:paperOpen .72s cubic-bezier(.2,.72,.2,1) .12s forwards}.mkt-morning-brief .paper-explanation:before{content:"";position:absolute;left:0;right:0;top:0;height:1px;background:rgba(168,107,42,.32)}.mkt-morning-brief .paper-explanation-inner{padding:28px 34px 26px}.mkt-morning-brief .paper-explanation p{margin:0;max-width:760px;color:#33312e;font-size:14px;line-height:1.7}.mkt-morning-brief .paper-explanation p+p{margin-top:6px}.mkt-morning-brief .paper-explanation .paper-lead{font-family:var(--serif);font-size:25px;line-height:1.35;color:#171717;margin-bottom:14px}.mkt-morning-brief .paper-explanation .paper-close{margin-top:13px;color:#6e563b}.mkt-morning-brief .paper-term-row{display:flex;flex-wrap:wrap;gap:8px;margin-top:18px;padding-top:14px;border-top:1px solid rgba(168,107,42,.18)}.mkt-morning-brief .paper-term{appearance:none;border:1px solid #d7b892;background:#fff;color:#845427;border-radius:999px;padding:7px 10px;font:inherit;font-size:9px;letter-spacing:.06em;text-transform:uppercase;cursor:pointer}.mkt-morning-brief .paper-term:focus,.mkt-morning-brief .paper-term:hover{border-color:var(--bronze);outline:none}.mkt-morning-brief .paper-term-definition{min-height:18px;margin-top:8px;color:#5f5952;font-size:11px}.mkt-morning-brief .paper-bottom{aspect-ratio:1021/1574}.mkt-morning-brief .paper-bottom img{position:absolute;left:0;top:-444px}@keyframes paperOpen{0%{opacity:0;transform:scaleY(.94)}to{opacity:1;transform:scaleY(1)}}@media(max-width:760px){.mkt-morning-brief .explore-v3{padding:28px 14px 30px}.mkt-morning-brief .walkthrough-v3{grid-template-columns:1fr}.mkt-morning-brief .chapter-rail{position:static;flex-direction:row;justify-content:center;gap:16px}.mkt-morning-brief .chapter-name{display:none}.mkt-morning-brief .paper-explanation-inner{padding:17px 18px 16px}.mkt-morning-brief .paper-explanation .paper-lead{font-size:19px}.mkt-morning-brief .paper-explanation p{font-size:11px;line-height:1.55}}.mkt-morning-brief .hero-v2{display:block;min-height:0;padding:34px 0 64px}.mkt-morning-brief .hero-intro{max-width:920px;margin:0 auto 34px;text-align:center}.mkt-morning-brief .hero-intro .eyebrow{margin-bottom:15px}.mkt-morning-brief .hero-intro h1{max-width:840px;margin:0 auto 14px;font-size:46px}.mkt-morning-brief .hero-intro>p{margin:0;color:#444;font-size:16px}.mkt-morning-brief .hero-download{margin-top:22px}.mkt-morning-brief .brief-orientation{position:relative;width:min(100%,1220px);min-height:1260px;margin:0 auto}.mkt-morning-brief .orientation-brief{position:absolute;left:50%;top:0;width:590px;transform:translateX(-50%);background:#fff;border:1px solid #e3dbd2;box-shadow:0 20px 44px rgba(45,35,24,.16)}.mkt-morning-brief .orientation-brief img{display:block;width:100%;height:auto}.mkt-morning-brief .orientation-callout{position:absolute;width:250px;display:grid;grid-template-columns:10px 1fr;gap:12px;align-items:start;color:#242424}.mkt-morning-brief .orientation-callout:after{content:"";position:absolute;top:7px;height:1px;background:rgba(168,107,42,.55)}.mkt-morning-brief .orientation-callout strong{display:block;margin-bottom:5px;font-family:var(--serif);font-size:16px;font-weight:400}.mkt-morning-brief .orientation-callout p{margin:0;color:#57524c;font-size:12px;line-height:1.55}.mkt-morning-brief .callout-dot{width:7px;height:7px;margin-top:5px;border-radius:50%;background:var(--bronze);box-shadow:0 0 0 4px rgba(168,107,42,.08)}.mkt-morning-brief .callout-market{left:0;top:118px}.mkt-morning-brief .callout-levels{right:0;top:286px}.mkt-morning-brief .callout-chart{left:0;top:492px}.mkt-morning-brief .callout-sauce{right:0;top:820px}.mkt-morning-brief .callout-execution{left:0;top:900px}.mkt-morning-brief .callout-risk{right:0;top:1030px}.mkt-morning-brief .callout-chart:after,.mkt-morning-brief .callout-execution:after,.mkt-morning-brief .callout-market:after{left:100%;width:85px}.mkt-morning-brief .callout-levels:after,.mkt-morning-brief .callout-risk:after,.mkt-morning-brief .callout-sauce:after{right:100%;width:85px}@media(max-width:1120px){.mkt-morning-brief .brief-orientation{display:grid;grid-template-columns:1fr minmax(420px,590px) 1fr;gap:18px;min-height:0;align-items:start}.mkt-morning-brief .orientation-brief{position:relative;left:auto;top:auto;transform:none;width:100%;grid-column:2;grid-row:1/span 6}.mkt-morning-brief .orientation-callout{position:relative;left:auto!important;right:auto!important;top:auto!important;width:auto}.mkt-morning-brief .orientation-callout:after{display:none}.mkt-morning-brief .callout-chart,.mkt-morning-brief .callout-execution,.mkt-morning-brief .callout-market{grid-column:1}.mkt-morning-brief .callout-levels,.mkt-morning-brief .callout-risk,.mkt-morning-brief .callout-sauce{grid-column:3}.mkt-morning-brief .callout-levels,.mkt-morning-brief .callout-market{grid-row:1}.mkt-morning-brief .callout-chart{grid-row:3}.mkt-morning-brief .callout-sauce{grid-row:4}.mkt-morning-brief .callout-execution{grid-row:5}.mkt-morning-brief .callout-risk{grid-row:6}}@media(max-width:760px){.mkt-morning-brief .hero-intro h1{font-size:36px}.mkt-morning-brief .brief-orientation{display:flex;flex-direction:column}.mkt-morning-brief .orientation-brief{order:1;width:min(100%,590px);margin:0 auto}.mkt-morning-brief .orientation-callout{order:2;width:100%;padding:10px 4px}}.mkt-morning-brief .hero-intro{margin-bottom:26px}.mkt-morning-brief .hero-intro h1{max-width:760px}.mkt-morning-brief .hero-bottom-cta{display:flex;justify-content:center;margin-top:34px}.mkt-morning-brief .hero-download{margin-top:0}.mkt-morning-brief .explore-simple{padding:38px 34px 6px}.mkt-morning-brief .simple-walkthrough{display:grid;grid-template-columns:180px minmax(300px,400px) minmax(430px,1fr);gap:28px;align-items:start;max-width:1240px;margin:0 auto}.mkt-morning-brief .simple-steps{position:sticky;top:145px;display:flex;flex-direction:column;gap:3px;padding-top:8px}.mkt-morning-brief .simple-step{appearance:none;border:0;background:transparent;display:grid;grid-template-columns:30px 1fr;gap:12px;align-items:center;padding:9px 0;color:#2f2f2f;text-align:left;font:inherit;cursor:pointer}.mkt-morning-brief .simple-step-num{width:27px;height:27px;border:1px solid #c8a780;border-radius:50%;display:grid;place-items:center;background:#fff;font-size:11px}.mkt-morning-brief .simple-step.active{color:var(--bronze-dark);font-weight:600}.mkt-morning-brief .simple-step.active .simple-step-num{color:#fff;background:var(--bronze);border-color:var(--bronze)}.mkt-morning-brief .simple-explanation{background:#fff;border:1px solid #dfd2c3;padding:26px 24px 22px}.mkt-morning-brief .simple-heading{display:flex;gap:13px;align-items:flex-start;margin-bottom:20px}.mkt-morning-brief .simple-badge{width:24px;height:24px;display:grid;place-items:center;background:var(--bronze);color:#fff;font-size:11px}.mkt-morning-brief .simple-heading h3{margin:0 0 5px;font-family:var(--serif);font-size:18px;font-weight:400;letter-spacing:.08em;text-transform:uppercase}.mkt-morning-brief .simple-heading p{margin:0;color:#333;font-size:13px}.mkt-morning-brief .simple-copy p{margin:0;color:#303236;font-size:14px;line-height:1.72}.mkt-morning-brief .simple-copy h4{margin:18px 0 7px;color:var(--bronze-dark);font-size:13px;font-weight:600}.mkt-morning-brief .simple-terms{margin-top:24px;padding:13px;border:1px solid #eadfd3}.mkt-morning-brief .simple-terms-label{display:block;margin-bottom:9px;color:#7a5a37;font-size:10px}.mkt-morning-brief .simple-pills{display:flex;flex-wrap:wrap;gap:8px}.mkt-morning-brief .simple-pills span{border:1px solid #dfc8ad;padding:7px 9px;color:#8a5b28;background:#fff;font-size:9px;text-transform:uppercase}.mkt-morning-brief .simple-terms p{margin:9px 0 0;color:#555;font-size:10px}.mkt-morning-brief .simple-controls{display:flex;justify-content:space-between;gap:10px;margin-top:24px}.mkt-morning-brief .simple-controls button{border:1px solid #e1d5c8;background:#fff;padding:12px 15px;color:#777;font-family:var(--sans)}.mkt-morning-brief .simple-controls .simple-next{border:0;color:#fff;background:linear-gradient(90deg,#9d6427,#b17836)}.mkt-morning-brief .simple-brief-view{position:relative;aspect-ratio:1021/2018;overflow:hidden;border:1px solid #e7ded3;background:#fff}.mkt-morning-brief .simple-brief-view img{display:block;width:100%;height:100%;object-fit:contain}.mkt-morning-brief .simple-dim{position:absolute;inset:0;background:rgba(255,255,255,.66);pointer-events:none}.mkt-morning-brief .simple-highlight{position:absolute;left:1.5%;width:97%;border:2px solid var(--bronze);box-shadow:0 5px 15px rgba(126,79,29,.15);background:rgba(255,255,255,.02)}.mkt-morning-brief .market-highlight{top:7.2%;height:14.8%}@media(max-width:1050px){.mkt-morning-brief .simple-walkthrough{grid-template-columns:150px 1fr}.mkt-morning-brief .simple-brief-view{grid-column:1/-1;max-width:620px;margin:0 auto}}@media(max-width:700px){.mkt-morning-brief .explore-simple{padding:28px 14px 6px}.mkt-morning-brief .simple-walkthrough{grid-template-columns:1fr}.mkt-morning-brief .simple-steps{position:static;display:grid;grid-template-columns:repeat(3,1fr);gap:5px}.mkt-morning-brief .simple-step{grid-template-columns:27px 1fr;font-size:11px}.mkt-morning-brief .simple-explanation{min-height:0}}.mkt-morning-brief .simple-dim{display:none}.mkt-morning-brief .simple-mask{position:absolute;z-index:2;background:rgba(255,255,255,.68);backdrop-filter:blur(1.2px);-webkit-backdrop-filter:blur(1.2px);pointer-events:none}.mkt-morning-brief .mask-top{left:0;top:0;width:100%;height:7.2%}.mkt-morning-brief .mask-left{left:0;top:7.2%;width:1.5%;height:14.8%}.mkt-morning-brief .mask-right{right:0;top:7.2%;width:1.5%;height:14.8%}.mkt-morning-brief .mask-bottom{left:0;top:22%;width:100%;bottom:0}.mkt-morning-brief .simple-highlight{z-index:3;border:1.5px solid var(--bronze);border-radius:0;box-shadow:0 0 0 3px rgba(168,107,42,.06),0 6px 16px rgba(126,79,29,.12);background:transparent}.mkt-morning-brief .simple-walkthrough{grid-template-columns:minmax(420px,1.15fr) minmax(430px,1fr);gap:34px;max-width:1080px}.mkt-morning-brief .simple-explanation{min-height:510px;padding:30px 30px 24px}.mkt-morning-brief .simple-brief-view{max-width:520px}@media(max-width:1050px){.mkt-morning-brief .simple-walkthrough{grid-template-columns:minmax(360px,1fr) minmax(390px,500px)}.mkt-morning-brief .simple-brief-view{grid-column:auto;max-width:500px;margin:0}}@media(max-width:820px){.mkt-morning-brief .simple-walkthrough{grid-template-columns:1fr}.mkt-morning-brief .simple-brief-view{max-width:620px;justify-self:center}}.mkt-morning-brief .explore-simple{padding:38px 24px 6px}.mkt-morning-brief .simple-walkthrough{max-width:1220px;grid-template-columns:minmax(560px,1.3fr) minmax(520px,.95fr);gap:42px}.mkt-morning-brief .simple-explanation{max-width:none;width:100%;padding:34px 36px 28px}.mkt-morning-brief .simple-brief-view{max-width:560px;width:100%;justify-self:end}@media (max-width:1200px){.mkt-morning-brief .simple-walkthrough{max-width:1100px;grid-template-columns:minmax(480px,1.2fr) minmax(460px,1fr);gap:30px}}@media (max-width:900px){.mkt-morning-brief .simple-walkthrough{grid-template-columns:1fr}.mkt-morning-brief .simple-brief-view{max-width:620px;justify-self:center}}.mkt-morning-brief .hero-bottom-cta{margin-top:18px!important;margin-bottom:18px!important}.mkt-morning-brief .explore-simple{padding-top:18px!important}.mkt-morning-brief .section-heading{margin-bottom:24px!important}.mkt-morning-brief .brief-orientation{min-height:1170px!important}.mkt-morning-brief .hero-bottom-cta{margin-top:10px!important;margin-bottom:8px!important}.mkt-morning-brief .explore-simple{padding-top:10px!important}.mkt-morning-brief .hero-v2{padding-bottom:16px!important}.mkt-morning-brief .explore-simple{padding-top:8px!important}.mkt-morning-brief .hero-v2{padding-bottom:28px!important}.mkt-morning-brief .explore-simple{padding-top:22px!important}.mkt-morning-brief .hero-v2{margin-bottom:48px!important;padding-bottom:0!important}.mkt-morning-brief .explore-simple{padding-top:0!important}.mkt-morning-brief .section-heading{padding-top:22px!important;margin-bottom:32px!important}.mkt-morning-brief .section-heading h2{margin-bottom:14px!important}.mkt-morning-brief .market-question{margin:14px 0 20px;padding:0 0 0 16px;border-left:3px solid var(--bronze);color:#2b2926;font-family:var(--serif);font-size:18px;line-height:1.5;font-style:italic}.mkt-morning-brief .simple-copy p+p{margin-top:14px}.mkt-morning-brief .simple-explanation.is-changing{opacity:.35;transform:translateY(4px)}.mkt-morning-brief .simple-explanation{transition:opacity .18s ease,transform .18s ease}.mkt-morning-brief .simple-highlight,.mkt-morning-brief .simple-mask{transition:top .28s ease,height .28s ease,left .28s ease,width .28s ease,bottom .28s ease}.mkt-morning-brief .simple-highlight.levels-highlight{top:22.7%;height:11.7%}.mkt-morning-brief .simple-highlight.chart-highlight{top:34.7%;height:35.7%}.mkt-morning-brief .simple-highlight.market-highlight{top:7.2%;height:14.8%}.mkt-morning-brief .simple-brief-view.focus-levels .mask-top{height:22.7%}.mkt-morning-brief .simple-brief-view.focus-levels .mask-left,.mkt-morning-brief .simple-brief-view.focus-levels .mask-right{top:22.7%;height:11.7%}.mkt-morning-brief .simple-brief-view.focus-levels .mask-bottom{top:34.4%}.mkt-morning-brief .simple-brief-view.focus-market .mask-top{height:7.2%}.mkt-morning-brief .simple-brief-view.focus-market .mask-left,.mkt-morning-brief .simple-brief-view.focus-market .mask-right{top:7.2%;height:14.8%}.mkt-morning-brief .simple-brief-view.focus-market .mask-bottom{top:22%}.mkt-morning-brief .simple-brief-view.focus-chart .mask-top{height:34.7%}.mkt-morning-brief .simple-brief-view.focus-chart .mask-left,.mkt-morning-brief .simple-brief-view.focus-chart .mask-right{top:34.7%;height:35.7%}.mkt-morning-brief .simple-brief-view.focus-chart .mask-bottom{top:70.4%}.mkt-morning-brief .simple-pills span{cursor:default}.mkt-morning-brief .brief-hotspot{position:absolute;left:1.5%;width:97%;z-index:5;border:0;padding:0;margin:0;background:transparent;cursor:pointer}.mkt-morning-brief .hotspot-market{top:7.2%;height:14.8%}.mkt-morning-brief .hotspot-levels{top:22.7%;height:11.7%}.mkt-morning-brief .hotspot-chart{top:34.7%;height:35.7%}.mkt-morning-brief .brief-hotspot:focus-visible,.mkt-morning-brief .brief-hotspot:hover{outline:1.5px solid var(--bronze);outline-offset:-2px;background:rgba(176,123,69,.035)}.mkt-morning-brief .brief-hotspot:focus-visible{box-shadow:inset 0 0 0 3px rgba(168,107,42,.08)}.mkt-morning-brief .hotspot-sauce,.mkt-morning-brief .simple-highlight.sauce-highlight{top:69.3%;height:5.8%}.mkt-morning-brief .simple-brief-view.focus-sauce .mask-top{height:69.3%}.mkt-morning-brief .simple-brief-view.focus-sauce .mask-left,.mkt-morning-brief .simple-brief-view.focus-sauce .mask-right{top:69.3%;height:5.8%}.mkt-morning-brief .simple-brief-view.focus-sauce .mask-bottom{top:75.1%}.mkt-morning-brief .simple-terms.is-empty{display:none}.mkt-morning-brief .hotspot-execution,.mkt-morning-brief .simple-highlight.execution-highlight{top:74.8%;height:9.2%}.mkt-morning-brief .simple-brief-view.focus-execution .mask-top{height:74.8%}.mkt-morning-brief .simple-brief-view.focus-execution .mask-left,.mkt-morning-brief .simple-brief-view.focus-execution .mask-right{top:74.8%;height:9.2%}.mkt-morning-brief .simple-brief-view.focus-execution .mask-bottom{top:84%}.mkt-morning-brief .hotspot-catalysts,.mkt-morning-brief .simple-highlight.catalysts-highlight{top:84.7%;height:7.6%}.mkt-morning-brief .simple-brief-view.focus-catalysts .mask-top{height:84.7%}.mkt-morning-brief .simple-brief-view.focus-catalysts .mask-left,.mkt-morning-brief .simple-brief-view.focus-catalysts .mask-right{top:84.7%;height:7.6%}.mkt-morning-brief .simple-brief-view.focus-catalysts .mask-bottom{top:92.3%}.mkt-morning-brief .simple-pills span:hover{background:#faf6f1}.mkt-morning-brief .glossary-flash{animation:glossaryFlash 1.4s ease}@keyframes glossaryFlash{0%{box-shadow:0 0 0 0 rgba(168,107,42,.45)}45%{box-shadow:0 0 0 8px rgba(168,107,42,.12)}to{box-shadow:0 0 0 0 rgba(168,107,42,0)}}.mkt-morning-brief .glossary-search{width:100%;max-width:560px;border:1px solid #dfd4c7;background:#fff;padding:14px 16px;font:14px var(--sans);color:#303236}.mkt-morning-brief .glossary-search:focus{outline:1px solid var(--bronze);border-color:var(--bronze)}.mkt-morning-brief .glossary-kicker{font-size:10px;letter-spacing:.14em;text-transform:uppercase;color:var(--bronze-dark);font-weight:700}.mkt-morning-brief .glossary-docs{padding-top:70px}.mkt-morning-brief .doc-toolbar{display:flex;justify-content:center;margin:0 auto 28px}.mkt-morning-brief .doc-list{max-width:920px;margin:0 auto;border-top:1px solid #e7ded3}.mkt-morning-brief .doc-term{padding:26px 4px;border-bottom:1px solid #e7ded3;scroll-margin-top:30px}.mkt-morning-brief .doc-term-head{display:flex;justify-content:space-between;gap:22px;align-items:flex-start}.mkt-morning-brief .doc-term h3{margin:0 0 5px;font-size:20px}.mkt-morning-brief .doc-term-head p{margin:0;color:#777;font-size:12px}.mkt-morning-brief .doc-term-head span{font-size:9px;text-transform:uppercase;letter-spacing:.08em;color:#8a5b28;border:1px solid #dfc8ad;padding:6px 8px;white-space:nowrap}.mkt-morning-brief .doc-definition{margin:14px 0 0;max-width:760px;color:#3d4044;line-height:1.7;font-size:14px}@media(max-width:650px){.mkt-morning-brief .doc-term-head{display:block}.mkt-morning-brief .doc-term-head span{display:inline-block;margin-top:10px}}.mkt-morning-brief .glossary-docs{position:relative}.mkt-morning-brief .doc-sticky-search{position:sticky;top:0;z-index:8;background:rgba(255,255,255,.96);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);padding:12px 0 14px;border-bottom:1px solid rgba(227,216,204,.85);margin-bottom:18px}.mkt-morning-brief .doc-toolbar{margin:0}.mkt-morning-brief .doc-shell{display:grid;grid-template-columns:54px minmax(0,1fr);gap:28px;max-width:1000px;margin:0 auto}.mkt-morning-brief .doc-alphabet{position:sticky;top:92px;align-self:start;display:grid;gap:2px;padding:8px 10px 8px 0;border-right:1px solid #e7ded3;max-height:calc(100vh - 120px);overflow:auto}.mkt-morning-brief .doc-alphabet a{display:block;padding:4px 2px;text-align:center;color:#8a5b28;font-size:10px;font-weight:600;text-decoration:none;border-radius:2px}.mkt-morning-brief .doc-alphabet a:focus-visible,.mkt-morning-brief .doc-alphabet a:hover{background:#f7f1ea;outline:none}.mkt-morning-brief .doc-list{max-width:none;margin:0}.mkt-morning-brief .doc-letter-anchor{scroll-margin-top:110px;margin:18px 0 0;padding:0 4px 10px;border-bottom:1px solid #e7ded3;color:#9a652e;font:700 16px var(--serif)}.mkt-morning-brief .doc-letter-anchor:first-child{margin-top:0}@media(max-width:760px){.mkt-morning-brief .doc-shell{grid-template-columns:1fr}.mkt-morning-brief .doc-alphabet{position:static;display:flex;flex-wrap:wrap;justify-content:center;border-right:0;border-bottom:1px solid #e7ded3;padding:0 0 12px;max-height:none}.mkt-morning-brief .doc-alphabet a{padding:5px 7px}.mkt-morning-brief .doc-sticky-search{top:0}}.mkt-morning-brief .simple-pills span{cursor:pointer}.mkt-morning-brief .simple-pills span:focus-visible,.mkt-morning-brief .simple-pills span:hover{background:#faf6f1;outline:none;border-color:#b4824f}.mkt-morning-brief .doc-term-head span{cursor:pointer}.mkt-morning-brief .doc-term-head span:focus-visible,.mkt-morning-brief .doc-term-head span:hover{background:#faf6f1;outline:none;border-color:#b4824f}.mkt-morning-brief #explanationPanel{scroll-margin-top:28px}