Alf and Brent discuss the major market shifts since the Warsh press conference. Is this a big macro shift or just a mini-trend that will ultimately slow down or even reverse?

The Rebasement Trade

The Macro Trading Floor

[SPEAKER_A] Macro Trading Floor. With me, Alfonso Peccatiello, founder of The Macro Compass and former head of investments at a large European bank.

[SPEAKER_B] And I am Brent Donnelly, president of Spectra Markets. I've been a portfolio manager, day trader, and market maker at the biggest commercial and investment banks in the United States. I'm also the author of Alpha Trader and The Art of Currency Trading. If you want to know what's going on in markets and where they're going, you found the right podcast.

[SPEAKER_A] Hi everybody, and welcome back to The Macro Trading Floor. So happy to be back. Brent is back. Alf is back. How are you guys doing? But how is Brent doing?

[SPEAKER_B] I'm great. I just got back from the OG homeland. So my real homeland is Canada, obviously, but then my homeland homeland is Northern Ireland. That's where my ancestors came from in 1720 or whatever. So I was in Ireland for 2 weeks and man, it was beautiful. It was so good.

[SPEAKER_A] So Brent is relaxed. He came back and the first thing he wrote is, what are you guys doing with this 50 basis point of hikes and now hiking in July? Are you completely out of your mind? Fade. And then he sent the note and then the day after we had a 10 basis point 2-year rally. So Brent, talk to us. What's your secret?

[SPEAKER_B] So it's interesting. This territory has been kind of walked a bit already by a lot of people writing and stuff about the Fed because the Fed was more than a week ago. And so I had some arguments back and forth with people.

The Rebasement Trade

Read the full transcript

The candid version is on a podcast,
not the earnings call.

The Rebasement Trade

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.