Ep. 185: Charlie McElligott on Year-End Rally, Duration Buying, and Carnivore Diets

Charlie McElligott is the leading expert on all things positioning, flow, sentiment, and quant factors. He is a Managing Director and Cross-Asset Macro Strategist for the Global Markets Americas business at Nomura Securities International, with more than 15 years’ experience in macro markets. Prior to joining Nomura, Charlie was Head of US Cross-Asset Macro Strategy at RBC Capital Markets. Before that, he spent eight years at UBS. In this podcast we discuss:

What was behind this year’s rates sell-off
How to think about financial conditions tightening
Real money demand for duration
Which markets will blow up?
How the Magnificent 7 are masking weakness
3 factors to watch for bearish signals on risk
Vibe has changed! P&L preservation and position reduction
Watch seasonality
Bimodal outcomes for US economy
CTA reversals coming
Views into year-end
Other risks to watch
Carnivore diet

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