Avsnitt
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To reach out to Alf: [email protected] (or Alfonso Peccatiello on BBG)
To reach out to Brent: [email protected] (or Brent Donnelly on BBG)
In this episode, Alf and Brent discuss the best risk/reward ways to position for the macro environment ahead of us. They then deep dive into option structures around gold, and the question of increasing sample size of trades to reduce PnL variance against the risk of downgrading your edge and expected value per trade when the sample size increases. -
To reach out to Alf: [email protected] (or Alfonso Peccatiello on BBG)
To reach out to Brent: [email protected] (or Brent Donnelly on BBG)
In this episode, Alf and Brent focus on various aspects of their investment/risk management process. They discuss several ideas and how to implement them according to their framework: when to use options? How to think about convexity? -
Saknas det avsnitt?
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To reach out to Alf: [email protected]
To reach out to Brent: [email protected]
Alf and Brent refresh their macro and trading frameworks on the basis of new info: the Iran/US MoU in negotiation phase, how the world might look like when Hormuz reopens, the Japanese FX intervention and more. -
To reach out to Alf: [email protected]
To reach out to Brent: [email protected]
Alf and Brent discuss the framework for an Iran-US deal, and how to approach rates, currencies and equity markets for the foreseeable future. -
To reach out to Alf: [email protected]
To reach out to Brent: [email protected]
Alf and Brent are back discussing frameworks to approach this market as a short-term oriented trader or as a long-term focused macro investor. -
Alf and Brent reflect on correlations converging to 1 across asset classes, risk management practices in macro deleveraging events, and a game theory approach to how the war could unfold from here.
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Alf and Brent discuss the terms of trade shock that the de-facto closure of the Strait of Hormuz is causing. The duo walk through scenarios and probabilities and what framework can be used to trade such a market environment,
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To reach out to Alf and Brent, ping them on BBG (Alfonso Peccatiello and Brent Donnelly).
In this episode, Alf and Brent discuss how the appointment of the new Fed Chair could shape the US policy making objective in the bond market. The repercussions on the USD and on the incentive schemes for other large bond market players (e.g. Japanese investors) are not to be underestimated. -
To reach out to Alf and Brent, ping them on BBG (Alfonso Peccatiello and Brent Donnelly).
In this episode, Alf and Brent reflect on the April-2025-like price action which coincided with the tariff threats. Now that the TACO is here, the real question is: will this episode encourage global pension funds to hedge their gigantic USD exposure? -
To reach out to Alf and Brent, ping them on BBG (Alfonso Peccatiello and Brent Donnelly).
In this episode, Alf and Brent focus the discussion on Japanese short-term and long-term macro: is the MoF ready to intervene? How do you trade these policymaker-induced setups? And in the long-run, will the market keep punishing the JPY and long-end bonds or will the Bank of Japan turn hawkish and surprise the market? -
To reach out to Alf and Brent, ping them on BBG (Alfonso Peccatiello and Brent Donnelly).
In the first TMTF episode of 2026, Alf and Brent discuss every single macro asset class under the sun: equities, bonds, currencies and commodities. The duo also talks about the reaction function of the Fed, and a few idiosyncratic ideas. -
The Nasdaq has now sold off nearly 10% from the highs, and the pain in momentum assets is even more severe.
Alf and Brent discuss whether there are reasons to believe more pain lies ahead, or this is the time to step in and buy the dip. -
Alf and Brent discuss the resurgence of the ''run it hot'' trade: Trump floating around new fiscal stimulus and government reopening odds seem to have revived the trade. How to best approach markets going forward?
Want to reach out to Alf or Brent?
Alfonso Peccatiello on Bloomberg chat, or [email protected]
Brent Donnelly on Bloomberg chat, or [email protected] -
Alf and Brent discuss the market reaction to the ''deal'' between Trump and Xi: what happens next?
The duo also covers the Fed and BoJ decisions, the state of the AI trade, and the Supreme Court hearings on tariffs starting next week. -
Have a great macro trade idea for Alf and Brent to discuss on the show? Send your trade idea here: TMTF Trade Of The Week
Alf and Brent discuss the vicious momentum unwind which took down precious metals and various speculative stock market sectors: what should we expect now? The duo also discusses the upcoming US CPI, and take a step back to assess the big picture macro setup we will likely face for the next 6-9 months. -
Have a great macro trade idea for Alf and Brent to discuss on the show? Send your trade idea here: TMTF Trade Of The Week
In this episode, Alf and Brent discuss the massive rally in precious metals: what's behind it? Is it a broad debasement theme or just a big momentum trade? And is Dimon right when he talks about more cockroaches in credit markets? -
Alf and Brent discuss the massive AI-driven rally which is beginning to have strong implications for broader markets and the economy. Brent presents the consensus view from several hedge fund PMs he met in Singapore - are they riding the bubble or afraid it's going to burst soon? And what about bonds, gold, and the USD?
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Alf and Brent discuss the recent NFP print and its implications for markets. They also reflect on the right framework to apply to RSI and options when dealing with asset classes having skewed return distributions.
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Alf and Brent discuss the latest attempt from Trump to gain more control over the Fed, and the implications this might have on multiple asset classes. They also discuss the JPY and the political situation in France.
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Alf and Brent discuss the surprising Jackson Hole speech in which Powell opened up to interest rate cuts already in September. Markets are reacting strongly, but the real question is what should we expect if Trump runs the economy hot alongside a dovish Fed in 2026?
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