Acyclic Research is a network of experienced operators and quants who are Global South first. We provide authoritative analysis even in theatres where information is sparse.

Orange-backed troupial perched on a branch
Orange-backed Troupial, Brazil

Our edge is nuance from people on the ground. We call on a network of field correspondents who live in or know their regions first-hand, and pick up on stirring issues long before these find their way online. This lets us cross-check our models and, when they flag something out of the ordinary, find out why, in ways distant hubs and cannot match.

We are also out to loosen the grip of financial econometrics as the only tool for measuring what matters. Our data team has over a decade of practice in finding, homogenising, and verifying ragged data from across the Global South, including sustainability, security, and fairness measures.

Investors, governments, non-profits, newsrooms, and multilateral development institutions can count on us for the full suite of data analysis and research services, for projects large and small.

Field-sourced Verified Attributed Accountable


Offerings

Local Currencies

We are specialists in local-currency bond and FX markets. Our Suprabonds suite covers relative value, issuance optimisation, and asset class advocacy.

Find out more

Illiquid Pricing

Few comparables, little data, no consensus. Our proprietary Kalman-Bayes Pricing Model (KBPM) weighs distant comparables against expert priors, updating as new information arrives, to arrive at tight price ranges on complex instruments, even in opaque markets.

Field Intelligence

Where faraway sources increasingly echo one another, we bring out-of-band signal. Our network tracks in-country socio-political, security, and economic developments as they happen, which clients can tap into at short notice.

Shadow Indicators

If official figures are late, revised, or missing, we build our own. Parallel exchange rates, nowcasts of inflation and activity, reconstructed fiscals, checked against what our correspondents see.

Custom Projects

Whether you need answers in days or a study over months, we scope the work around your question and staff it with the right people.

Seeking Partners

Road to Caracas

Interest in Venezuela is much greater than the available information. We are preparing for its opening, tracking debt restructuring, socio-political and investment climate, and regulations. We seek your partnership to station two correspondents in Caracas for several months.

Find out more

Network


Contact