The Spectra Markets Library

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am/FX

What is USDJPY?

USDJPY is generally a US yields trade, but it’s got some weird energy these days.

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friday speedrun
Friday Speedrun

Wake me up when September ends

Low volatility is the big story, despite wacky and wonky pockets of vol here and there. Wake me up after the election (when September ends).

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am/FX

10 to 15 Days

Prior 2%+ counterintuitive reactions to CPI had a 10-to-15-day half-life as they signaled exhaustion in either direction four out of four times. Also: The MOF is getting fancier.

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am/FX

CPI and some results

The Nile and Vietnam are the same general shape Current Views Flat…
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am/FX

Consumer Price Index

There is an asymmetry in CPI, but not in USD positioning. Intriguing.

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am/FX

Game Plan for Pill

It makes sense that Huw Pill will declare mission accomplished tomorrow, and signal an August 1 cut from the Bank of England.

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am/FX

A Study, and Corn

FX is moving a bit in reaction to higher vol and lower stocks. Today I cover an interesting study on EMH, and the epic short position in corn.

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am/FX

NZ and Fed Thoughts

NZ inflation tonight is a potentially critical input for RBNZ pricing. The market is asleep on what a Trump victory might mean for the USD.

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am/FX

Red Wave Rising

Birthplace of North American professional hockey players in the NHL Current Views…
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am/FX

Thoughts on FX Vol

FX vol tends to pick up in August, but it has nothing to do with the Olympics.

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am/FX

America, Heck Yea

I am not one to call every bull market a bubble, but this moment feels a tad Bubblicious™. Stocks only go up. TINA is alive.

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The Macro Trading Floor podcast

Catch up with Brent Donnelly and Macro Alf every week on The Macro Trading Floor. Listen as they discuss themes that are moving markets, highlight important trade ideas, and get to the bottom of what’s going on in macro.

“am/FX is a must read for everyone who wants to 
understand global macro trading.”

John Mauldin, Chairman
Mauldin Economics

50 Trades in 50 Weeks

One year of good ideas, dumb mistakes, and timeless trading lessons over a wide range of topics like tactics, strategy, mindset, risk management, and of course the psychology of successful trading. Watch real trade ideas come to life in real time.

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Tap into the wisdom of the most respected names in global markets. Connect theory to practice and advance your career.