Complexity stabilizes.
Adaptation sustains.
Dispersion persisted.
Correlation clusters formed and dissolved dynamically.
No single dominant mode emerged.
In New York City, cross-asset models incorporated regime-switch filters.
In London, structured desks widened scenario distributions in pricing.
In Tokyo, retail platforms introduced dynamic margin adjustments.
Participants had internalized instability.
Not fear.
Flexibility.
Maya extended the framework.
"Static systems oscillate," she said.
"Adaptive systems update."
She wrote the learning dynamic.
Parameter evolution via feedback.
Gradient-based correction.
Keith nodded.
"So the system tunes itself."
"Yes."
"But tuning can overshoot."
Jasmine mapped regime probability shifts.
Multiple latent states.
Probabilities fluctuating smoothly.
No abrupt transitions.
Hidden Markov persistence rising.
The system had grown anticipatory.
In Chicago, volatility supply adjusted faster to spikes.
In Frankfurt, credit dispersion pricing became more granular.
In Singapore, macro funds reduced directional bias in favor of relative value.
Amplification attempts dampened earlier.
Phase formation disrupted preemptively.
Maya tested stability under adaptive feedback.
State depends on evolving parameters.
Not fixed curvature.
Not static coupling.
Dynamic landscape.
Keith studied the simulations.
Oscillations appeared.
But smaller.
Shorter-lived.
Self-correcting.
In Hong Kong, overnight volatility spikes decayed rapidly.
In Zurich, risk premia normalized without compression extremes.
In Washington, D.C., policy communication remained steady and predictable.
External forcing weakened.
Internal adjustment strengthened.
Keith leaned back.
"So we've solved instability?"
Maya's reply was measured.
"No."
"We've shortened its half-life."
She wrote one final relation.
Recovery speed proportional to corrective strength.
Faster lambda.
Shorter tau.
Adaptive damping.
Chapter 202 does not climax.
It evolves.
The system learns.
Feedback accelerates.
Coupling monitored.
Resonance interrupted early.
Complexity managed—not eliminated.
And for now,
Instability does not accumulate.
It dissipates quickly.
Because adaptation
Has become structural.
But adaptation itself changes incentives.
And incentives,
Over time,
Rewrite parameters again.