@font-face{font-family:"Archivo";src:url(/assets/fonts/archivo-latin-wdth-normal.woff2) format("woff2");font-weight:100 900;font-stretch:62% 125%;font-style:normal;font-display:swap}
@font-face{font-family:"JetBrains Mono";src:url(/assets/fonts/jetbrains-mono-latin-wght-normal.woff2) format("woff2");font-weight:100 800;font-display:swap}

:root{
  --bg:#fff;--bg-2:#f6f7f9;--ink:#111214;--ink-2:#3c4047;--ink-3:#6b7079;--line:#e3e5e9;--line-2:#c9ccd3;
  --link:#185fd6;--accent:#3d7bff;--accent-btn:#2f66f0;--accent-deep:#2556d6;--accent-ink:#fff;--accent-soft:rgba(61,123,255,.1);
  --up:#0d8a3e;--down:#d2261e;--danger:#c81e1e;
  --sans:"Archivo",system-ui,-apple-system,"Segoe UI",sans-serif;
  --serif:Georgia,"Times New Roman",Times,serif;
  --mono:"JetBrains Mono",ui-monospace,SFMono-Regular,Menlo,monospace;
  --r:4px;--gutter:clamp(16px,4vw,40px);--wrap:1260px;--ease-out:cubic-bezier(.16,1,.3,1);
}
*{box-sizing:border-box}
html{scroll-behavior:smooth;-webkit-text-size-adjust:100%;scroll-padding-top:120px}
body{margin:0;background:var(--bg);color:var(--ink);font-family:var(--sans);font-size:16px;line-height:1.5;-webkit-font-smoothing:antialiased;overflow-x:hidden}
img{display:block;max-width:100%}
a{color:var(--link)}
h1,h2,h3,p,ul,ol,dl,dd,dt,figure,blockquote{margin:0;padding:0}
ul,ol{list-style:none}
button{font:inherit;color:inherit}
.wrap{width:min(100% - var(--gutter)*2,var(--wrap));margin-inline:auto}
:focus-visible{outline:2px solid var(--accent);outline-offset:2px}

/* buttons */
.btn{position:relative;display:inline-flex;align-items:center;justify-content:center;gap:.5em;min-height:46px;padding:0 18px;border-radius:var(--r);font:650 15px/1 var(--sans);font-stretch:104%;text-decoration:none;border:1px solid transparent;cursor:pointer;transition:background .2s,border-color .2s,color .2s;white-space:nowrap;width:100%}
.btn-primary{background:var(--accent-btn);color:var(--accent-ink)}
.btn-primary:hover{background:var(--accent-deep)}
.btn-ghost{background:#fff;border-color:var(--line-2);color:var(--ink)}
.btn-ghost:hover{border-color:var(--ink)}
.btn[disabled]{opacity:.55;pointer-events:none}
.btn .done,.btn .busy,.share .done{display:none}
.is-done .lbl,.is-busy .lbl{display:none}
.is-done .done,.is-busy .busy{display:inline}
.btn.is-done{background:var(--up);color:#fff}
.btn.is-busy::after{content:"";width:13px;height:13px;border:2px solid currentColor;border-right-color:transparent;border-radius:50%;animation:spin .8s linear infinite}
@keyframes spin{to{transform:rotate(360deg)}}

/* masthead */
.mast{position:sticky;top:0;z-index:40;background:#fff;border-bottom:1px solid var(--line)}
.mast-row{display:flex;align-items:center;gap:28px;height:72px;border-bottom:1px solid var(--line)}
.masthead{display:flex;align-items:baseline;gap:12px;text-decoration:none;color:var(--ink)}
.masthead img{width:40px;height:40px;align-self:center}
.mast-name{font-weight:900;font-stretch:78%;font-size:34px;letter-spacing:-.02em;line-height:1}
.mast-sec{font-weight:600;font-size:13px;letter-spacing:.08em;text-transform:uppercase;color:var(--ink-3);padding-left:12px;border-left:1px solid var(--line-2)}
.masthead.small .mast-name{font-size:22px}
.masthead.small img{width:28px;height:28px}
.mast-nav{display:flex;gap:22px;margin-left:auto}
.mast-nav a{font-size:14px;font-weight:600;color:var(--ink);text-decoration:none;padding:6px 0;border-bottom:2px solid transparent}
.mast-nav a:hover{border-bottom-color:var(--ink)}
.mast-cta{display:inline-flex;align-items:center;min-height:40px;padding:0 16px;border-radius:var(--r);background:var(--ink);color:#fff;font-weight:700;font-size:14px;text-decoration:none}
.mast-cta:hover{background:#000}

/* tape */
.tape{background:#fff;overflow:hidden;-webkit-mask-image:linear-gradient(90deg,transparent,#000 3%,#000 97%,transparent);mask-image:linear-gradient(90deg,transparent,#000 3%,#000 97%,transparent)}
.tape-row{display:flex;gap:0;width:max-content;min-width:100%}
.tape-row.live{animation:tapescroll var(--dur,60s) linear infinite}
.tape:hover .tape-row.live{animation-play-state:paused}
@keyframes tapescroll{to{transform:translateX(-50%)}}
.tk{flex:none;display:grid;grid-template-columns:auto auto;grid-template-rows:auto auto;column-gap:14px;row-gap:2px;padding:10px 22px 10px 0;margin-right:22px;border-right:1px solid var(--line);font-size:13px;line-height:1.2;min-width:150px}
.tk:last-child{border-right:0}
.tk-l{font-weight:800;font-stretch:96%;font-size:12.5px;letter-spacing:.01em}
.tk-c{font-family:var(--mono);font-weight:700;font-size:12px;text-align:right}
.tk-p{grid-column:1/3;font-family:var(--mono);font-size:13px;color:var(--ink-2);display:flex;justify-content:space-between;gap:14px}
.tk-c::before{content:"";display:inline-block;width:0;height:0;border:4px solid transparent;margin-right:6px;vertical-align:1px}
.tk.up .tk-c{color:var(--up)}.tk.up .tk-c::before{border-bottom:6px solid var(--up);border-top:0}
.tk.down .tk-c{color:var(--down)}.tk.down .tk-c::before{border-top:6px solid var(--down);border-bottom:0}
.tk-wnrs{background:var(--accent-soft);padding-left:14px;border-radius:var(--r);border-right:0}
.tk-wnrs .tk-l{color:var(--accent-deep)}

/* page grid */
.page{display:grid;grid-template-columns:minmax(0,1fr) 380px;gap:clamp(32px,4vw,56px);padding:28px 0 72px;align-items:start}
.story{max-width:820px;min-width:0}
.crumb{font-size:12px;font-weight:700;letter-spacing:.06em;text-transform:uppercase;color:var(--ink-3)}
.crumb a{color:inherit;text-decoration:none}.crumb a:hover{text-decoration:underline}
.crumb span{margin:0 6px}
.story h1{margin-top:14px;font-weight:600;font-stretch:100%;font-size:clamp(28px,3.4vw,44px);line-height:1.14;letter-spacing:-.02em;text-wrap:balance}
.byline{display:flex;flex-wrap:wrap;align-items:center;gap:8px 18px;margin:18px 0 22px;padding-bottom:18px;border-bottom:1px solid var(--line)}
.kind{font-size:14px;font-weight:700;letter-spacing:.02em;color:var(--ink-2)}
.kind span{font-weight:500;color:var(--ink-3);margin-left:8px}
.date{font-size:13px;color:var(--ink-3)}
.share{margin-left:auto;display:inline-flex;align-items:center;gap:8px;min-height:36px;padding:0 14px;border:1px solid var(--line-2);border-radius:var(--r);background:var(--bg-2);font:700 12px/1 var(--sans);letter-spacing:.06em;text-transform:uppercase;cursor:pointer}
.share:hover{border-color:var(--ink)}
.share.is-done{background:var(--up);color:#fff;border-color:var(--up)}

.crumb,.byline p{font-family:var(--sans)!important}
.story p,.story li{font-family:var(--serif);font-size:19px;line-height:1.55;color:var(--ink)}
.story p{margin-top:18px}
.story p strong{font-weight:700}
.story h2{margin-top:36px;font-family:var(--serif);font-size:21px;line-height:1.35;font-weight:700}
.story h2 strong{font-weight:700}
.story h2.kicker{margin-top:26px;font-size:19px}
.takeaways{margin-top:10px;padding-left:22px;list-style:disc}
.takeaways li{margin-top:6px}
.takeaways b{font-weight:700;margin-right:6px}
.plain{margin-top:12px;padding-left:22px;list-style:disc}
.plain li{margin-top:8px}
.src{font-family:var(--sans)!important;font-size:13px!important;color:var(--ink-3)!important;line-height:1.5!important;margin-top:10px!important}
.story-fig{margin:30px 0 8px;border:1px solid var(--line)}
.story-fig img{width:100%;height:auto}
.story-fig figcaption{padding:10px 12px;font-size:13px;color:var(--ink-3);border-top:1px solid var(--line);font-family:var(--sans)}
.pull{margin:30px 0 8px;padding:6px 0 6px 22px;border-left:4px solid var(--accent);font-family:var(--sans);font-weight:650;font-size:24px;line-height:1.25;letter-spacing:-.01em}
.pull cite{display:block;margin-top:8px;font-style:normal;font-size:13px;color:var(--ink-3);font-weight:500}
.steps{margin-top:18px;counter-reset:s}
.steps li{display:grid;grid-template-columns:36px 1fr;gap:14px;padding:16px 0;border-top:1px solid var(--line);font-size:18px}
.steps li:last-child{border-bottom:1px solid var(--line)}
.steps b{display:grid;place-items:center;width:32px;height:32px;border-radius:50%;background:var(--ink);color:#fff;font:700 14px var(--sans)}
.broker-row{display:flex;flex-wrap:wrap;gap:10px;margin-top:20px}
.bk{display:inline-flex;align-items:center;min-height:46px;padding:0 18px;border:1px solid var(--line-2);border-radius:var(--r);background:#fff;color:var(--ink);font:700 15px var(--sans);font-stretch:104%;text-decoration:none;transition:border-color .2s,background .2s}
.bk:hover{border-color:var(--ink);background:var(--bg-2)}
.disc{margin-top:40px;padding:22px 24px;background:var(--bg-2);border:1px solid var(--line)}
.disc h3{font-size:13px;font-weight:800;letter-spacing:.06em;text-transform:uppercase;color:var(--ink-2)}
.disc h3+p{margin-top:8px}
.disc p{font-family:var(--sans);font-size:14px;line-height:1.55;color:var(--ink-2)}
.disc h3:not(:first-child){margin-top:18px}

/* rail */
.rail{position:sticky;top:132px;display:grid;gap:22px}
.card{border:1px solid var(--line);padding:20px}
.card h2{font-weight:800;font-stretch:96%;font-size:24px;letter-spacing:-.02em;line-height:1.1}
.mv{width:100%;border-collapse:collapse;margin-top:14px;font-size:14px}
.mv th{text-align:left;font-size:11px;letter-spacing:.06em;text-transform:uppercase;color:var(--ink-3);padding:0 0 8px;border-bottom:2px solid var(--ink)}
.mv td{padding:10px 0;border-bottom:1px solid var(--line);vertical-align:middle;font-family:var(--mono);font-size:13.5px}
.mv td:first-child{font-family:var(--sans)}
.mv td b{font-weight:800;font-size:14px}
.mv td small{display:block;font-size:11.5px;color:var(--ink-3);font-weight:500}
.mv th:not(:first-child),.mv td:not(:first-child){text-align:right}
.mv .arrow{display:inline-block;width:0;height:0;border:4px solid transparent;margin-right:8px;vertical-align:2px}
.mv tr.up .c,.mv tr.up .pc{color:var(--up)}.mv tr.up .arrow{border-bottom:7px solid var(--up);border-top:0}
.mv tr.down .c,.mv tr.down .pc{color:var(--down)}.mv tr.down .arrow{border-top:7px solid var(--down);border-bottom:0}
.mv tr.is-wnrs td{background:var(--accent-soft)}
.mv tr.is-wnrs td:first-child{padding-left:8px}.mv tr.is-wnrs td:last-child{padding-right:8px}
.asof{margin-top:10px;font-size:11.5px;color:var(--ink-3)}
.facts{display:grid;grid-template-columns:1fr 1fr;gap:10px 14px;margin:14px 0 16px}
.facts dt{font-size:11px;letter-spacing:.06em;text-transform:uppercase;color:var(--ink-3)}
.facts dd{font-weight:700;font-size:15px;margin-top:2px}
.buy-card .btn+.btn{margin-top:8px}
.bk-list{display:grid;grid-template-columns:1fr 1fr;gap:6px 10px;margin-top:16px;padding-top:14px;border-top:1px solid var(--line)}
.bk-link{font-size:14px;font-weight:600;color:var(--ink);text-decoration:none;display:flex;align-items:center;gap:6px}
.bk-link::before{content:"";width:6px;height:6px;border-top:1.5px solid var(--ink-3);border-right:1.5px solid var(--ink-3);transform:rotate(45deg)}
.bk-link:hover{color:var(--link);text-decoration:underline}
.quote-link{display:block;margin-top:14px;font-size:13.5px}
.news-card p{margin-top:8px;font-size:14px;color:var(--ink-2)}
.news-card form{display:grid;gap:8px;margin-top:14px}
.news-card label{font-size:12px;font-weight:700;color:var(--ink-2)}
.news-card input[type=email]{width:100%;min-height:44px;padding:0 12px;border:1px solid var(--line-2);border-radius:var(--r);font:inherit;font-size:15px;color:var(--ink);background:#fff}
.news-card input[type=email]:focus{outline:0;border-color:var(--accent);box-shadow:0 0 0 3px var(--accent-soft)}
.news-card input[aria-invalid=true]{border-color:var(--danger)}
.err{font-size:12.5px;color:var(--danger)}
.hp{position:absolute;left:-9999px;opacity:0;height:0;width:0}
.form-ok{font-size:13.5px;color:var(--up)}.form-fail{font-size:13.5px;color:var(--danger)}

/* footer */
.foot{border-top:3px solid var(--ink);padding:24px 0 calc(28px + env(safe-area-inset-bottom));background:#fff}
.foot-row{display:flex;justify-content:space-between;align-items:center;gap:20px;flex-wrap:wrap}
.foot-links{display:flex;gap:20px;flex-wrap:wrap}
.foot-links a{font-size:13.5px;font-weight:600;color:var(--ink);text-decoration:none}
.foot-links a:hover{text-decoration:underline}
.legal{margin-top:16px;font-size:12px;color:var(--ink-3);line-height:1.55}

/* mobile bar */
.mbar{display:none}

@media (max-width:1024px){
  .mast-nav{display:none}
  .page{grid-template-columns:1fr}
  .rail{position:static}
  .story{max-width:none}
}
@media (max-width:640px){
  .mast-row{height:60px;gap:12px}
  .mast-name{font-size:24px}.mast-sec{display:none}.masthead img{width:30px;height:30px}
  .mast-cta{display:none}
  .tk{min-width:0;padding:8px 14px 8px 0;margin-right:14px}
  .story h1{font-size:28px}
  .story p,.story li{font-size:17.5px}
  .share{margin-left:0}
  .steps li{font-size:16.5px}
  .broker-row .bk{flex:1 1 45%}
  .mbar{position:fixed;inset:auto 0 0 0;z-index:35;display:grid;grid-template-columns:auto 1fr 1fr;align-items:center;gap:8px;padding:8px var(--gutter) calc(8px + env(safe-area-inset-bottom));background:#fff;border-top:1px solid var(--line-2);box-shadow:0 -8px 24px rgba(0,0,0,.08);transform:translateY(110%);transition:transform .4s var(--ease-out)}
  .mbar.show{transform:none}
  .mbar .btn{min-height:42px;padding:0 10px;font-size:14px}
  .mbar-q{font-family:var(--mono);font-size:13px;line-height:1.1}
  .mbar-q b{display:block;font-size:12px}
  .mbar-q.up span{color:var(--up)}.mbar-q.down span{color:var(--down)}
  body.has-mbar{padding-bottom:70px}
}
@media (prefers-reduced-motion:reduce){*{animation:none!important;transition:none!important}html{scroll-behavior:auto}.tape{overflow-x:auto}}