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Insight - Making Sense of the Narrative


Markets have two ‘modes’ – momentum and mean reversion. Last year of course was a huge momentum year for the Macro Traders. On the negative side. They made their huge profits from a short position in Bonds, Equities, Metals and Currencies (against the $).

Firstly, a Happy Chinese New Year to all our friends and colleagues in Asia, for as we pointed out in a post this time a year ago Chinese New Year is celebrated not only in Greater China but across much of Asia.

Just before Christmas, I was delighted to have the opportunity to chat with Angelo Robles, founder of the US based Family Office Association about a wide range of subjects, but in particular how we at Market Thinking saw the coming year in markets

The idea of ‘Musings’ is that while none of the following might merit a full post of their own, they might perhaps add up to some interesting observations (of sorts).

Macro Traders had their best year in decades in 2022, benefitting from clear negative trends in Bonds, Equities, commodities and currencies (against the $)...