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Macro Update
Here are this video’s topics of discussion:
I start with the levered hedge fund that just blew up in the AI trade, then what its unwind tells us about where the real risk sits.
I then turn to the Fed’s balance sheet and the mechanics behind an exit from the mortgage market, and why that piece is the one on my mind.
I move on to TBL Liquidity’s unconfirmed green dot, what it means, why the dots are coming faster, and how we are thinking about it.
I close on the dollar and the Treasury curve, and the one headline I think matters most for the second half of this year.
Okay, on to today’s 17-minute video and TLDR summary.
If you prefer watching these videos on YouTube, we have attached the YouTube link under the TL;DR Section.
