/* Standard Trade — site styles.
   One typeface (Inter, with its display cut via optical sizing), white ground, near-black ink, brass only for hover and the agreed mark. */

:root {
  --paper: #ffffff;
  --paper-2: #f4f4f2;
  --ink: #121212;
  --ink-2: #707070;
  --rule: rgba(0, 0, 0, 0.1);
  --brass: #866016;

  --font: "Inter", -apple-system, BlinkMacSystemFont, "Segoe UI", system-ui, sans-serif;

  --page-max: 60rem;
  --gutter: 2rem;
  --measure: 34em;
}

*, *::before, *::after { box-sizing: border-box; }
* { margin: 0; padding: 0; }

html { -webkit-text-size-adjust: 100%; }

body {
  min-height: 100vh;
  display: flex;
  flex-direction: column;
  background: var(--paper);
  color: var(--ink);
  font: 400 16px/1.5 var(--font);
  font-kerning: normal;
  font-optical-sizing: auto;
  text-rendering: optimizeLegibility;
  -webkit-font-smoothing: antialiased;
  -moz-osx-font-smoothing: grayscale;
}

a { color: inherit; }
a:focus-visible { outline: 2px solid var(--brass); outline-offset: 3px; }

.wrap { width: 100%; max-width: var(--page-max); margin: 0 auto; padding: 0 var(--gutter); }

/* Header: the wordmark alone */
.site-header.wrap { padding-top: 1.75rem; }
.wordmark { font-weight: 600; font-size: 0.9375rem; letter-spacing: -0.006em; text-decoration: none; }

/* Main */
main.wrap { flex: 1; display: flex; flex-direction: column; justify-content: center; padding-top: 4rem; padding-bottom: 4rem; }

.statement {
  font-weight: 400;
  font-size: clamp(1.75rem, 1.1rem + 1.9vw, 2.5rem);
  line-height: 1.15;
  letter-spacing: -0.022em;
  max-width: 19em;
  margin-left: -0.04em;   /* optical alignment: pulls the large type's side bearing back to the wordmark's edge */
  text-wrap: balance;
}

.sub { margin-top: 1.5rem; font-size: 1rem; color: var(--ink-2); }

.inline-link { color: var(--ink); text-decoration: none; border-bottom: 1px solid var(--rule); transition: color .15s, border-color .15s; }
.inline-link:hover { color: var(--brass); border-color: currentColor; }

/* Research page */
.eyebrow { font-size: 0.9375rem; font-weight: 500; color: var(--ink-2); margin-bottom: 1.25rem; }
.prose { max-width: var(--measure); }
.prose p { font-size: clamp(1.125rem, 1rem + 0.45vw, 1.3125rem); line-height: 1.45; letter-spacing: -0.011em; }
.prose p + p { margin-top: 0.9em; }

/* Convergence figure */
.convergence { max-width: 36rem; margin-top: 3rem; }
.convergence svg { display: block; width: 100%; height: auto; overflow: visible; }
.convergence .cv-band { fill: var(--paper-2); }
.convergence .cv-buyer { fill: none; stroke: var(--ink); stroke-width: 2; stroke-linejoin: miter; stroke-linecap: square; }
.convergence .cv-seller { fill: none; stroke: var(--ink-2); stroke-width: 1.25; stroke-linejoin: miter; stroke-linecap: square; }
.convergence .cv-deal { fill: none; stroke: var(--ink); stroke-width: 2; }
.convergence .cv-agreed { fill: var(--brass); }
.convergence text { font-family: var(--font); font-size: 11px; font-weight: 500; letter-spacing: 0.06em; fill: var(--ink-2); }
.convergence .cv-label-strong { fill: var(--ink); }
.convergence .cv-label-accent { fill: var(--brass); }
.convergence figcaption { margin-top: 1rem; font-size: 0.875rem; color: var(--ink-2); }

@media (prefers-reduced-motion: no-preference) {
  .convergence.animate .cv-buyer, .convergence.animate .cv-seller { stroke-dasharray: 1000; stroke-dashoffset: 1000; animation: draw 1.8s cubic-bezier(.4, 0, .2, 1) forwards; }
  .convergence.animate .cv-deal { stroke-dasharray: 200; stroke-dashoffset: 200; animation: draw 0.6s 1.9s ease-out forwards; }
  .convergence.animate .cv-agreed, .convergence.animate .cv-label-accent { opacity: 0; animation: appear 0.3s 1.8s forwards; }
  @keyframes draw { to { stroke-dashoffset: 0; } }
  @keyframes appear { to { opacity: 1; } }
}

/* Footer */
.site-footer { padding: 1.25rem 0 1.75rem; border-top: 1px solid var(--rule); font-size: 0.8125rem; color: var(--ink-2); }

@media (max-width: 720px) {
  :root { --gutter: 1.25rem; }
  .site-header.wrap { padding-top: 1.25rem; }
  main.wrap { padding-top: 3rem; padding-bottom: 3rem; }
  .convergence text { font-size: 16px; }
}