The Macro Trading Floor Alfonso Peccatiello & Andreas Steno Larsen | Blockworks

On today's episode of The Macro Trading Floor, Alfonso & Andreas discuss the continued turmoil across the banking sector. Alfonso & Andreas break down the liquidity measures set in place for the current period of banking turmoil which include the Fed's discount window, Bank Term Funding Program and the record $60 billion usage in the FIMA repo facility. To hear all this and more, you'll have to tune in!
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Subscribe To The Macro Compass: https://www.themacrocompass.com/
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Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of The Macro Trading Floor, Alfonso & Andreas discuss the continued fallout from the collapse of Silicon Valley Bank, and what it means for markets.

The Fed's H.4.1 report was released this past week, which saw the balance sheet increasing by roughly $300 Billion. The balance sheet increase consisted of a record $152.9 billion usage in the Fed's discount window, $11.9 billion in the Fed's new BTFP facility & a final $142.8bn to guarantee all deposits at SVB and Signature Bank. With a rally in risk asset's, many viewed this as the return of QE, similar to the 2019 repo crisis. In this episode, we discuss whether this is really the return of QE, or not and what it will mean for markets in 2023. To hear all this and more, you'll have to tune in!
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Today's show is sponsored by Public.com: Get a 4.7% yield when you open a government-backed Treasury Account.* That's a higher yield than a high-yield savings account.** Go to public.com/macrotradingfloor

*26-week T-bill rate (as of 3/19/23) when held to maturity. Rate shown is gross of fees.
**As compared to the national high-yield savings average of 3.43% (Source: Time.com/NextAdvisor as of 12/30/22).
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Follow Andreas: https://twitter.com/AndreasSteno
Follow Alf: https://twitter.com/MacroAlf
Follow Blockworks: https://twitter.com/Blockworks_

Subscribe To The Macro Compass: https://www.themacrocompass.com/
Subscribe To Steno Research: https://stenoresearch.com/
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of The Macro Trading Floor, Alfonso & Andreas walk through the collapse of Silicon Valley Bank. On a historic week where we saw the collapse of the largest bank since 2008, we walk through the dynamics throughout 2020 - 2023 that caused SVB to fail, what risks lie ahead and if we should expect spillovers into the broader banking system. To hear all this and more, you'll have to tune in!
--
Follow Andreas: https://twitter.com/AndreasSteno
Follow Alf: https://twitter.com/MacroAlf
Follow Blockworks: https://twitter.com/Blockworks_

Subscribe To The Macro Compass: https://www.themacrocompass.com/
Subscribe To Steno Research: https://stenoresearch.com/
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of The Macro Trading Floor, Alfonso & Andreas discuss the data points suggesting a possible resurgence of inflation in both the U.S and Europe. As the yield curve continues to reprice higher, how does this impact the higher for longer thesis in rates? Alf and Andreas then share their actionable trade ideas, but to hear that, you'll have to tune in!
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Today's show is sponsored by Public.com: Get a 5.1% yield when you open a government-backed Treasury Account.* That's a higher yield than a high-yield savings account.** Go to https://public.com/macrotradingfloor

*26-week T-bill rate (as of 3/5/23) when held to maturity. Rate shown is gross of fees.
**As compared to the national high-yield savings average of 3.43% (Source: Time.com/NextAdvisor as of 12/30/22).
--
Follow Andreas: https://twitter.com/AndreasSteno
Follow Alf: https://twitter.com/MacroAlf
Follow Blockworks: https://twitter.com/Blockworks_

Subscribe To The Macro Compass: https://www.themacrocompass.com/
Subscribe To Steno Research: https://stenoresearch.com/
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
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Referenced In The Show:

Blackstone Defaults on Nordic CMBS as Property Values Wobble: https://www.bloomberg.com/news/articles/2023-03-02/blackstone-defaults-on-531-million-nordic-property-backed-cmbs
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Timestamps:
(00:00) Introduction
(00:35) It's Lonely On Disinflationary Island
(05:19) Where Is The Chinese Reopening Stimulus?
(12:25) When Do You Fade The Narrative?
(18:59) “Public Ad”
(19:31) Blackstone Defaults On CMBS
(27:12) Actionable Trade Ideas
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Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of The Macro Trading Floor, Alfonso & Andreas walk through the biggest stories of the week and discuss everyone's most asked question right now, hard landing, soft landing or no landing? As the U.S housing market drops the most since 2008, will the economy be able to handle higher rates for a sustained period of time?

Alfonso & Andreas then walk through the best risk and reward trades in markets right now. To hear all this and more, you'll have to tune in!
--
Follow Andreas: https://twitter.com/AndreasSteno
Follow Alf: https://twitter.com/MacroAlf
Follow Blockworks: https://twitter.com/Blockworks_

Subscribe To The Macro Compass: https://www.themacrocompass.com/
Subscribe To Steno Research: https://stenoresearch.com/
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Referenced In The Show:

US Housing Market Posts $2.3 Trillion Drop, Biggest Since 2008: https://www.bloomberg.com/news/articles/2023-02-22/us-housing-market-posts-2-3-trillion-drop-biggest-since-2008
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Timestamps:

(00:00) Introduction
(00:39) What Is Happening In China?
(05:42) Japan Finally Has... Inflation?!
(11:26) Hard Landing, Soft Landing or No Landing?
(16:26) U.S Housing Market Drops The Most Since 2008
(24:50) Can The Economy Handle Sustained 5% Rates?
(34:04) The Risk vs Reward For Markets
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Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of The Macro Trading Floor, Alfonso & Andreas reflect on the first six weeks of 2023. As most investors anticipated recessionary pressures in H1, and for markets to head lower, so far "animal spirits" persist, economic data remains strong and markets refuse to budge. Finally, Alf & Andreas share their actionable trade ideas, but to hear that, you'll have to tune in!
--
Follow Andreas: https://twitter.com/AndreasSteno
Follow Alf: https://twitter.com/MacroAlf
Follow Blockworks: https://twitter.com/Blockworks_

Subscribe To The Macro Compass: https://www.themacrocompass.com/
Subscribe To Steno Research: https://stenoresearch.com/
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Today's show is sponsored by Public.com: Get a 4.9% yield when you open a government-backed Treasury Account.* That's a higher yield than a high-yield savings account.** Go to public.com/macrotradingfloor

*26-week T-bill rate (as of 2/6/23) when held to maturity. Rate shown is gross of fees.
**As compared to the national high-yield savings average of 3.43% (Source: Time.com/NextAdvisor as of 12/30/22).
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Timestamps:

(00:00) Introduction
(00:51) Why Is The Data So Strong?
(07:21) All Eyes On Liquidity
(10:54) Are 50bps Back On The Table?
(20:59) Animal Spirits Are Back
(28:23) “Public Ad”
(28:55) What Is Happening With Energy?
(30:38) Actionable Trade Ideas
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Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.