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Trade Write-Up: Shifting Regime From Neutral To The Next Move
Trade Write-Ups

Trade Write-Up: Shifting Regime From Neutral To The Next Move

The next macro trade

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Capital Flows
Aug 05, 2025
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Trade Write-Up: Shifting Regime From Neutral To The Next Move
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Trade Write-Up: Shifting Regime From Neutral To The Next Move

I have been laying out the tensions for equities and bonds in the following pieces:

  • Comprehensive Macro Report: Navigating the Uncertainty Trifecta

  • Comprehensive Macro Report: Video Breakdown of Equities, Bonds, and Bitcoin

  • Trade Write Up: The Macro Trade

  • Alpha Report: Equity Breadth, Dispersion, and The Risk Curve

As I explained in the Alpha Report yesterday, equities are going to get a lot more difficult over the next month since breadth is normalizing. I turned neutral equities on FOMC day because of some warning signs and we have seen a marginal drawdown that is beginning to create oppurtunity. However, the expression of trade is critical here. See connected video here:

Macro Trades:

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