Alf and Brent discuss the German fiscal stimulus announcement: with its gigantic magnitude and fast-track process, this marks a historical turnaround for Germany and Europe. The implications for markets are big in stocks, bonds, and FX.
Alf can be reached via X (@MacroAlf) and on Bloomberg (Alfonso Peccatiello)
Brent can be reached via X (@donnelly_brent) and on Bloomberg (Brent Donnelly)
Transcript of this episode: https://www.spectramarkets.com/tmtf-transcript-06mar25/
Alf and Brent unpack the last big market moves which investors are broadly interpreting as a growth scare. Is that the correct interpretation? And in general: are we going to have a US growth scare or not?
Alf can be reached via X (@MacroAlf) and on Bloomberg (Alfonso Peccatiello)
Brent can be reached via X (@donnelly_brent) and on Bloomberg (Brent Donnelly)
Transcript of this episode: https://www.spectramarkets.com/tmtf-transcript-26feb25/
Markets are caught between cross currents, and the thesis for a stronger USD / sticky inflation seems as valid as the thesis for gentle disinflation / slower growth. Brent and Alf discuss what the next big macro trade could be.
Alf can be reached via X (@MacroAlf) and on Bloomberg (Alfonso Peccatiello)
Brent can be reached via X (@donnelly_brent) and on Bloomberg (Brent Donnelly)
Transcript of this episode: https://www.spectramarkets.com/tmtf-transcript-20feb25/
In this episode, Alf and Brent reflect on the upcoming ”Tariff Day” and how to trade it. The duo shares their scenario-based approach covering multiple asset classes including bonds, FX and equities.
Alf can be reached via X (@MacroAlf) and on Bloomberg (Alfonso Peccatiello)
Brent can be reached via X (@donnelly_brent) and on Bloomberg (Brent Donnelly)
Options vs. cash: https://50in50.substack.com/p/trade-6-options-or-cash
Transcript: https://www.spectramarkets.com/tmtf-transcript-17jan25/
Alf and Brent discuss the big moves in UK bond markets and the drop in the UK Sterling: bond vigilantes are in action, but what next? They also focus on the upcoming tariff announcement and the impact on US bond markets, the US Dollar and equity markets.
Howard Marks on Bubbles
https://www.oaktreecapital.com/insights/memo/on-bubble-watch
2025 Trader Handbook and Almanac
https://amzn.to/3WhmhMH
Transcript of this episode:
https://www.spectramarkets.com/tmtf-transcript-10jan25/
Powell delivered a super hawkish message: inflation remains sticky, and the Fed won’t cut rates as much as the market expected in 2025. The “Fed Put” is not there anymore – should investors go and buy their own puts?
Do you want to ask questions to Brent and Alf?
Reach out to Alfonso Peccatiello and Brent Donnelly on Bloomberg.
Transcript of this episode: https://www.spectramarkets.com/tmtf-transcript-20dec24/
Alf and Brent discuss the US dilemma in 2025: should Trump be aggressive out of the gate with tariffs sacrificing growth for foreign policy victories, or should he focus on other priorities allowing Powell to cut rates and facilitate the refinancing of $7 trillion of maturing Treasuries? The duo also discussed the perils and benefits of leverage in trading and investing.
Do you want to ask questions to Brent and Alf?
Reach out to Alfonso Peccatiello and Brent Donnelly on Bloomberg.
Financial Times article: https://www.ft.com/content/e4be5eef-34b3-47f9-a6a9-387e4341abf3
Transcript of this episode: https://www.spectramarkets.com/tmtf-transcript-13dec24/
Alf and Brent resume the show by assessing how to approach Trump 2.0 from a macro trading perspective in 2025. They also discuss the ”Death of Europe”: is it happening, or is it an overcrowded narrative?
FREE trial to Alf’s research: https://forms.gle/jF2nnD2VoNuQjem86
Brent’s macro daily: https://www.spectramarkets.com/
Transcript of this episode: https://www.spectramarkets.com/tmtf-transcript-06dec24/
John Mauldin, Chairman
Mauldin Economics
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Tap into the wisdom of the most respected names in global markets. Connect theory to practice and advance your career.
