The Macro Trading Floor The Everything SuperCycle?
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Jan 9, 2026 Alf and Brent dive into the macro landscape, exploring equities, bonds, currencies, and commodities. They debate if current commodity trends signal a supercycle or are driven by financial forces. The duo examines central bank policies and their looseness, scrutinizing inflation gaps. Silver's surge and retail investor dynamics spark a lively discussion. They also touch on currency flows, dollar strength, and unique market opportunities in Hungary. The conversation blends insightful analysis with engaging debates.
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Antarctic Trip And Market Gods
- Alf described sleeping on the ice in Antarctica and the silent, vast surroundings as a reflective experience.
- He joked he prayed to the market gods while enjoying the calm and penguins.
Commodities Rally Without Energy Participation
- Commodities are rallying while energy stays soft, creating an unusual mix of inflationary and disinflationary forces.
- Metals and geopolitics are dominating risk flows while FX and bond vol remain near lows.
Supercycle Is About The Fiat Denominator
- Alf argues this is a financial-driven supercycle driven by weakening fiat (the denominator) more than commodity supply (the numerator).
- He highlights coordinated fiscal impulse across G20 and broadly loose central banks as the key drivers.
