2025 lessons: yields, dollar and AI ascent

In just the first two weeks of 2026, investors have had a lot to take in amidst fast-moving headlines and shifting policy signals.​

In this episode of Barclays Brief, Global Head of Macro Distribution Kristen Macleod joins host Patrick Coffey to unpack how investors are navigating a market defined by both optimism and caution. They break down key positioning themes from curve steepeners and real yields in rates to USD‑centric FX trades and selective exposure to commodities. They also examine the defensive side of the market, including long‑duration hedges such as gold. ​

​Listen in to get the strategic view on how macro investors are positioning right now. ​

​Listeners can hear more on this topic:​

1. Barclays Brief #13 – AI: The macro game changer ​
2. The Flip Side # 79 – Will the US consumer hold up in 2026? ​

​Clients can read more on Barclays Live:​

1. Macro Outlook: No turning back​
2. Are inflation markets calm or complacent?​
3. Thinking Macro: Eyes on the prize​
4. Trump calls for one-year cap on credit card rates at 10%​
5. Unprecedented times at the Fed​
6. To lower the mortgage rates, think Treasuries

This content is for informational purposes only and does not constitute investment advice or a recommendation. Views expressed are those of the speakers and may not reflect those of the firm. Any forward-looking statements are based on current assumptions and subject to risks and uncertainties.

Important Content Disclosures​

Important non-Research Content Disclosures​