Equity Round Trip - VP August 2024 Global Macro Trading Call [video + AI summary]

  • The chasm between what equities and fixed income markets are discounting remains huge: consensus S&P 500 EPS growth estimates are in the double-digits through both CY 24 & CY 25, while money markets are pricing an amount of cuts that typically only occur during recessions.
  • The neutral reading of the VP Macro Regime model suggests caution, neither going heavily long nor aggressively betting on the downside for both equities and bonds.
  • Recent LPPL crash signals on the US dollar suggest a tactical bottom may be forming.

Link to Top Global Macro Ideas dashboard.

Global Macro TradingTacticalEquitiesFixed IncomeUSDMarket Discussion

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