42 Macro Consolidated Summary: September 20, 2024

This podcast examines key macroeconomic questions with a focus on the Bank of Japan's (BOJ) policy stance. It discusses whether the BOJ will dampen a potential year-end rally through its forward guidance and non-hiking stance, even as Japanese inflation data remains hawkish. The episode also highlights research analysis on how central banks are prioritizing financial stability over price stability, the underweight position on UK long-duration bonds due to upcoming growth and inflation acceleration in the UK, and the implications for risk assets. Additional insights include an overview of current market regimes, quantitative signals across short- and medium-term horizons, positioning models suggesting a tilt toward spread products over treasuries, and risk management strategies in both UK and US fixed income markets.