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29 January 2021 FX

Ep. 48: Jon Turek on the New Fed Put, the Brainard US Curve Steepener and the Dollar

Bilal Hafeez Bilal Hafeez
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1 min read

Jon is the author of the widely followed Cheap Convexity blog and always has excellent insights on Fed policy, rates markets and the dollar. In this podcast, we discuss:

How to think about the Fed’s new framework.
The rates trade that captures this shift – the Brainard steepener!
Why a taper tantrum is less likely this time.
Why the ECB could be more comfortable with euro strength.
How the Georgia senate elections complicated the weak dollar trade.
Why precious metals may struggle even with low rates.
Why technical issues around the Fed balance sheet are overstated.
Are equities expensive?
Will US/Euro rates divergence trades work?
Books that influenced Jon: Trade Wars Are Class Wars (Klein, Pettis), Market Wizards (Schwager) and More Money Than God (Mallaby).

You can follow Jon on Twitter , sign up to his newsletter here and contact him for more detailed researcher here

You can access the full transcript here.

Make sure to subscribe to the show on Apple, Spotify, YouTube, or wherever you go for your podcasts. You can follow us on Twitter and LinkedIn.

(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)

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