Summer lulls in market activity are common, but this year's calm is unique. Interest rate, FX and volatility markets are rangebound despite jarring headlines and upheavals in politics, and the potential for binary market outcomes in response. The search for high conviction views seems more difficult than normal. That makes it a good time to get the perspective from someone with a day job of managing risk. This week, we speak with Dan Mazza, head of our US FX forwards desk, on where he sees interest rate and currency markets potentially underpriced for the uncertainties ahead.

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