Serious investment thinking that doesn’t take itself too seriously.
Bond markets are on fire again. Looking back at the 2015-2021 period when I traded bond markets at a large bank, it was quite boring. Rates were mostly stuck around 0% at the...
The news of the week is NOT the Fed cutting 50 bps - yes sure, that’s important but there is something much more relevant going on. The Chinese economy keeps imploding from...
The S&P500 realized volatility is below 10%.
Credit spreads are super tight, and aside from some short-lived European political drama markets keep marching higher. Yet, I think macro volatility is coming back.