35 episodes

Every week, one of the best worldwide macro investors joins this unique show to talk about the economy, markets and elaborate the next big actionable macro trade! The show is hosted by two young and institutionally successful European macro stars: Alfonso Peccatiello (former Head of a $20bn Investment Portfolio at ING) and Andreas Steno Larsen (former Chief Strategist at Nordea).

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

    • Business
    • 4.9 • 155 Ratings

Every week, one of the best worldwide macro investors joins this unique show to talk about the economy, markets and elaborate the next big actionable macro trade! The show is hosted by two young and institutionally successful European macro stars: Alfonso Peccatiello (former Head of a $20bn Investment Portfolio at ING) and Andreas Steno Larsen (former Chief Strategist at Nordea).

    How To Trade The Chinese Turbulence | Alex Campbell

    How To Trade The Chinese Turbulence | Alex Campbell

    We apologise for any minor audio issues you may experience on today's episode.
    --
    On today's episode of "The Macro Trading Floor," Andreas and Alfonso welcome Alex Campbell, the Founder of Rose AI, to the show for a discussion on the current situation in China.

    As inflation, de-globalization, and tight commodity markets continue to impact markets, Alex provides insights on the best ways to protect yourself in today's environment. Drawing on his extensive experience as the Head of Commodities at Bridgewater Associates, Alex delves into the structural underinvestment in the sector, how geopolitics have shaped the markets in 2022, and the likely path ahead in 2023. Tune in to hear Alex's actionable trade idea and learn more about how to navigate today's challenging economic landscape.
    --
    Follow Alex: https://twitter.com/abcampbell
    Follow Andreas: https://twitter.com/AndreasSteno
    Follow Alf: https://twitter.com/MacroAlf
    Follow Blockworks: https://twitter.com/Blockworks_

    Subscribe To The Macro Compass: https://themacrocompass.substack.com/
    Subscribe To Stenos Signals: https://andreassteno.substack.com/
    Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
    --
    This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/blockworks_macro_trading, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.
    --
    Referenced In The Show:

    Real Estate Watch - The equity market crisis to spread to Real Estate: https://andreassteno.substack.com/p/real-estate-watch-the-equity-market
    --
    Timestamps:
    (00:00) Introduction
    (00:20) Breaking Down Jerome Powell's Speech
    (04:20) Blackstone Limits Withdrawals In Major Property Fund
    (06:52) The Labor Market
    (11:23) Feature Interview With Alex Campbell
    (18:02) What Is Happening In China?
    (23:15) Inflation, De-Globilization & Commodities
    (28:31) “Curve Ad”
    (29:41) The Fed Is Tightening, But The PBOC Is Loosening...
    (32:22) Is Volatility Too Cheap?
    (34:28) Asset Allocation During An Inflationary Cycle
    (37:18) Alex's Actionable Trade Idea
    (42:24) Post Interview: Final Thoughts
    --
    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.

    • 57 min
    Thomas Thornton: This Bear Market Isn't Over Yet

    Thomas Thornton: This Bear Market Isn't Over Yet

    On today’s episode of “The Macro Trading Floor,” Andreas and Alfonso welcome Thomas Thornton of Hedge Fund Telemetry joins the show to discuss the equity bear market in 2022.

    Tommy walks through what has happened in 2022, and what to expect in 2023 as investors face uncertainty if the recent rally is a bear market rally, or a bottom. Tommy goes on to discuss the energy trade and where the best risk/reward is in markets right now. Finally, Tommy shares his actionable trade idea, but to hear that, you'll have to tune in!
    --
    Follow Tommy: https://twitter.com/TommyThornton
    Follow Andreas: https://twitter.com/AndreasSteno
    Follow Alf: https://twitter.com/MacroAlf
    Follow Blockworks: https://twitter.com/Blockworks_

    Subscribe To The Macro Compass: https://themacrocompass.substack.com/
    Subscribe To Stenos Signals: https://andreassteno.substack.com/
    Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
    --
    This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/blockworks_macro_trading, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.
    --
    Timestamps:
    (00:00) Introduction
    (00:38) Recent Moves In FX
    (07:24) The Yield Curve Doesn't Stop Inverting
    (12:10) Feature Interview: Thomas Thornton
    (15:57) How Tommy Manoeuvred Markets in 2022
    (17:46) The Recent Rally In Markets: Market Bottom, or Bear Market Rally?
    (22:12) “Curve Ad”
    (23:27) Tommy's Market Outlook Into 2023
    (34:45) The Energy Trade
    (37:07) Tommy's Actionable Trade Idea
    (41:14) Post Interview: Final Thoughts
    --
    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.

    • 53 min
    Jacob Shapiro: From Globalization To A Multipolar World

    Jacob Shapiro: From Globalization To A Multipolar World

    On today’s episode of “The Macro Trading Floor,” Andreas and Alfonso welcome Jacob Shapiro, Director of Geopolitics at Cognitive Investments for a discussion on the global trend to a multipolar world.

    In 2022, geopolitics has been one of the leading factors in markets, so we invited an expert in geopolitics to help us navigate this environment. Expecting a shift away from globalization and a more multipolar world over the next decade, this trend has many implications for economies around the world. Jacob walks through the U.S/China relations, Europe's energy crisis and discusses which countries are best positioned in this environment, before finally sharing his actionable trade idea, but to hear that, you'll have to tune in!
    --
    Follow Jacob: https://twitter.com/JacobShap
    Follow Andreas: https://twitter.com/AndreasSteno
    Follow Alf: https://twitter.com/MacroAlf
    Follow Blockworks: https://twitter.com/Blockworks_

    Subscribe To The Macro Compass: https://themacrocompass.substack.com/
    Subscribe To Stenos Signals: https://andreassteno.substack.com/
    Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
    --
    This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through http://tmtf.link/curve, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.
    --
    Timestamps:

    (00:00) Introduction
    (00:42) What Is Happening In The Bond Market?
    (04:46) Bear Market Rally, Or Market Bottom?
    (07:38) What Is Happening In Crypto?
    (12:23) Feature Interview: Jacob Shapiro
    (15:25) U.S & China Relations After The G20 Meeting
    (18:23) China's Zero Covid Policy
    (23:05) De-Globalization
    (32:02) “Curve Ad”
    (33:17) Europe's Energy Crisis
    (38:31) Which Countries Are Well Positioned In This Environment
    (42:39) Jacob's Actionable Trade Idea
    (46:38) Post Interview: Final Thoughts
    (49:22) The Energy Crisis In Europe
    (51:53) A Trade In The Bond Market
    --
    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.

    • 59 min
    The Real Stress Is Not In The US, But Elsewhere | Brent Donnelly

    The Real Stress Is Not In The US, But Elsewhere | Brent Donnelly

    On today’s episode of “The Macro Trading Floor,” Andreas and Alfonso welcome Brent Donnelly President of Spectra Markets for a discussion on the economic weakness around the world.

    With market participants focusing on the U.S as Powell continues to fight inflation, Brent reminds us that the real stress is not in the U.S, but elsewhere. Looking to Canada, Brent walks through the fragility he sees in the Canadian economy, and discusses vulnerability in the housing market as mortgages reprice with higher interest rates. Finally, Brent shares his actionable trade idea, but to hear that, you'll have to tune in!
    --
    Today, The Macro compass graduates from the biggest macro newsletter in the world to an all-round platform whose aim is to help investors fill the data, tools and macro knowledge gap they unfortunately face versus Wall Street.
    It will be a macro learning journey filled with educational reports, interactive tools and actionable portfolio strategy to help you become a better macro investor. And if you are an institutional investor already, the Pro tier will help sharpen your macro game through dedicated professional products and tools.
    As a listener of The Macro Trading Floor, you can use the code ''TMTF'' for a 10% discount and sign up for the tier that best fits your needs starting from only $27 per month. Sign up here: https://www.themacrocompass.com/our-products/
    --
    Follow Brent: https://twitter.com/donnelly_brent
    Follow Andreas: https://twitter.com/AndreasSteno
    Follow Alf: https://twitter.com/MacroAlf
    Follow Blockworks: https://twitter.com/Blockworks_

    Subscribe To The Macro Compass: https://themacrocompass.substack.com/
    Subscribe To Stenos Signals: https://andreassteno.substack.com/
    Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
    --
    (00:00) Introduction
    (00:50) Top Stories of The Week
    (11:36) Feature Interview With Brent Donnelly
    (16:24) Drawing Comparisons Between 2022 & 2001
    (21:19) Brent's Outlook On Inflation
    (29:16) The Housing Market
    (33:45) Brent's Actionable Trade Idea
    (42:21) Post Interview: Final Thoughts
    (53:38) Launching The Macro Compass Platform
    --
    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.

    • 55 min
    Debt, Demographics & Deflation Ahead | Raoul Pal

    Debt, Demographics & Deflation Ahead | Raoul Pal

    On today’s episode of “The Macro Trading Floor,” Andreas and Alfonso welcome Raoul Pal CEO & Co-Founder, Real Vision & Global Macro Investor to the show for a discussion on debt, demographics and deflationary pressures.

    Raoul discusses some of the structural deflationary forces that lie ahead for markets. How will these forces effect markets as the Fed, and central banks globally, progress through their fastest tightening cycle in recent history. How are rising rates & high inflation changing asset allocation in this period? Finally, Raoul shares his actionable trade idea, but to hear that, you'll have to tune in!
    --
    This episode is sponsored by Saxo Bank. Saxo Bank offers unparalleled market coverage across fiat, crypto and metals. Moreover, they provide free currency subaccounts and competitive interest rates on deposits in local currencies. Learn more at https://goto.saxo/macrofx
    --
    Follow Raoul: https://twitter.com/RaoulGMI
    Follow Andreas: https://twitter.com/AndreasSteno
    Follow Alf: https://twitter.com/MacroAlf
    Follow Blockworks: https://twitter.com/Blockworks_

    Subscribe To The Macro Compass: https://themacrocompass.substack.com/
    Subscribe To Stenos Signals: https://andreassteno.substack.com/
    Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
    --
    (00:00) Introduction
    (00:42)Top Stories of The Week
    (12:40) Feature Interview With Raoul Pal
    (25:08) The Low Interest Rate Environment
    (28:18) Powell Channelling His Inner Volcker
    (34:22) What Could Bring Markets Lower?
    (40:24) Raoul's Actionable Trade Idea
    (47:40) Post Interview: Final Thoughts
    --
    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.

    • 59 min
    Natural Gas Prices Plunge, But For How Long?

    Natural Gas Prices Plunge, But For How Long?

    On today’s episode of “The Macro Trading Floor,” Andreas is joined by Jack Farley Host of Forward Guidance to discuss big tech earnings, preparing for a recession in Europe and natural gas prices.

    Natural gas prices in Europe plunged due to a mild start to winter throughout October, European next hour Dutch TTF actually briefly turned negative. Andreas & Jack walk through the dynamics sending prices lower and discuss if Europe is through the worst? Finally, Andreas shares his actionable trade idea, but to hear that, you'll have to tune in!
    --
    This episode is sponsored by Saxo Bank. Saxo Bank offers unparalleled market coverage across fiat, crypto and metals. Moreover, they provide free currency subaccounts and competitive interest rates on deposits in local currencies. Learn more at https://goto.saxo/macrofx
    --
    Follow Andreas: https://twitter.com/AndreasSteno 
    Follow Jack: https://twitter.com/JackFarley96
    Follow Blockworks: https://twitter.com/Blockworks_ 

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

    Meta Reports Third Quarter 2022 Results: https://s21.q4cdn.com/399680738/files/doc_financials/2022/q3/Meta-09.30.2022-Exhibit-99.1-FINAL.pdf
    --
    (00:00) Introduction
    (00:37) U.S Earnings Season
    (06:45) The 10yr/3m Yield Curve Inverts
    (11:06) Preparing For A Recession In Europe
    (15:48) Progressing Through the Tightening Cycle
    (19:34) European Natural Gas
    (28:42) Andreas' Actionable Trade Idea
    --
    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.

    • 43 min

Customer Reviews

4.9 out of 5
155 Ratings

155 Ratings

Montana KSU fan ,

This is the best Macro Podcast!

Love these guys. They discuss interesting topics in-depth. And give both the pro and contra rationale for the positions. And they have great give and take. Very enjoyable.

DEFELI1 ,

Geopolitics is fun but usually early or late

Shapiro has a wonderful radio voice but that is it. Geopolitics is entertaining but always early, late or wrong. Non investable ideas.

seminoleike ,

Jack Farley has no business on this podcast

Either this is going to stay a grown up program or you are going to allow it to become dumbed down. Hope you choose wisely

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