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Insight - Making Sense of the Narrative


The job vacancies created by the ‘unexpected early retirements’ of two Fed Presidents seen as Hawkish on Monetary Policy may well be seen as an important catalyst for US fixed income and currency traders, but history may instead see these changes as an important catalyst in a populist resurgence and a pushback against Crony Capitalism and the behaviour of the 1%

A Short note today – just moving into a new office. Mainly a focus on recent developments around some of our developing themes.

The widespread consensus in the Western Media is that EverGrande is going to crash the Chinese Economy and that the Australia/US/UK defense pact is ‘good news’.

With China closed for the Mid Autumn Festival holiday, the noise traders are all over Evergrande Contagion as their new narrative, when in fact the bigger short term risk is the gamma positions among market makers in the US post last week’s option expiry.

As I sit here in my ‘bijou’ residence at Hong Kong airport for my ninth day of ‘totally necessary and not at all pointless’ Quarantine, (TNANAAPQ) with nothing to do but write blogs (!)