Macro Report/Podcast: How to generate exceptional returns Pt.2 / Macro Flows Report
I have recorded part 2 of the previous podcast and have attached a report on the current state of macro flows
Previous Podcasts and Articles I mentioned:
Macro Flows:
In this report, I am going to explain the macro flows, tensions, and levels we are currently seeing across each major asset class. I will cover the following:
How the stock bond correlation and levels in equities and bonds, connect to the macro regime.
How crude and the commodity complex is likely to move into the end of 2024.
The top 5 things people are missing about this macro regime.
Big Picture:
I have laid out my macro views in the following articles:
As I noted in the reports linked above, there a tension with the time horizon in bonds right now: Bonds remain skewed to the upside on a cyclical basis but we are unlikely to break UP through this level BEFORE FOMC:
While the inflation prints this week are likely to cause some volatility, the front loading in cuts is a bit aggressive right now:
This aggressiveness is reflected in the SOFR spreads:
As we move through this week, I am going to explain the signals and correlations you should be watching.
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