One of the best trades that you see is fading expect ations of a spring of 23 rate cut, a fed rate cut. The market is still pricing in now somewhere close to 60 bips of cuts just later in next year. That's going to receive an equal and opposite impulse easing on the economy. What the market is telling you is a much bigger easing impulses will create down the road.
MacroVoices Erik Townsend and Patrick Ceresna welcome Nomura quant, Charlie McElligott to the show. Charlie shares whether there’s another shoe to drop for this equity market, and if so, when it’s coming. They also discuss rates and the gamma effects playing out this week. https://bit.ly/3Afi9C9
Download Charlie's slides: https://bit.ly/3BZze4t
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