The Macro Trading Floor

By Alfonso Peccatiello & Brent Donnelly

What's The Macro Trading Floor about?

The Macro Trading Floor is a fun and actionable macro and markets podcast hosted by Alfonso Peccatiello and Brent Donnelly. If you are looking for banter, financial education, and actionable trade ideas this is the podcast for you!

Download our free app to listen on your phone

The Macro Trading Floor episodes:

05.17.2024
How To Trade Macro Now?
(Links mentioned in the podcast are in the show notes below: check them out!) Alf and Brent discuss the soft patch the US seems to be going through and the CPI number released this week. If markets are going to continue...
05.10.2024
Early Signs of Weakness
The Bank of England pre-announced a rate cut in June, the Swedish Riksbank cut interest rates, and there are a few early signs of weakness emerging in the US as well. Is the market ready for a regime switch? Alf and Brent...
05.03.2024
A New Fed Put?
Descrizione: Nominal growth is showing some early signs of fatigue, while economists' expectations remain elevated and market pricing still quite hawkish. Alf and Brent discuss potential opportunities arising from this setup, and spend time arguing whether Powell just announced a...
04.26.2024
A Contrarian Macro Thesis
US Q1 Real GDP printed below expectations but still at a respectable 1.6%, and core inflation was hotter than analysts forecast: more fuel on the fire of the reflation theme? Alf and Brent present a contrarian macro thesis instead, and...
04.19.2024
What if Hikes are Stimulative?!
The Fed is all of a sudden opening up to the possibility of hikes: what now? But most importantly: have you ever thought about the possibility of Fed hikes being stimulative? And finally: do you have any idea why every...
04.12.2024
Yes, But What Will Break Markets?
This week Alf and Brent discuss how markets seem to be on the lookout for a release valve for the combination of a Fed talking about cuts while nominal growth doesn't call for them: commodiites, bond markets, and the US...
04.05.2024
The Next Big Trade?
Interested in Alf's Macro Fund? Send an email to [email protected] Markets are in reflation mode with commodities getting bid all over the place: not only gold and crude oil, but also silver, copper, zinc, you name it. Also, the US Dollar is showing...
03.29.2024
Macro Traders Reflections
Alf welcomes back Brent to the show, and the co-host duo discusses macro data, Fed's Waller speech, Japan and China. But most importantly they share thoughts and observations about the current low volatility market regime, how to approach it trying to...
03.22.2024
Dario Perkins: These Central Banks Better Pivot Fast
This week Alf welcomes Dario Perkins to the show. Dario discusses how we got here with much more benign inflationary dynamics without a big damage to labor markets - hint: Central Bankers were lucky more than skilled. Dario and Alf...
03.15.2024
Volatility is Coming
The bond market is waking up to the idea that inflation might be a bit stickier and the Fed's hands are tied. Alf and Brent discuss what this implies for global macro asset classes, and highlight a few trade ideas. Sign...
03.08.2024
Animal Spirits Running Loose
Alf and Brent discuss how animal spirits seem to be running loose in several asset classes. Signs are evident not only in stocks but also in gold, Bitcoin and option markets. They also focus on Japan and the potential tectonic...
02.29.2024
Macro Opportunities Around The World
Alf and Brent discuss the outlook for the US economy, and how bond markets have adjusted their pricing to reflect the odds of a soft landing. Is there a trade maybe? They then move their focus to Canada, Europe, New...
02.25.2024
It's Back!
The Macro Trading Floor is back! And there are quite some surprises...
06.25.2023
This Is It
A last, fascinating tour across global macro asset classes before Alf and Andreas switch the lights off for a while. Want to keep up with Andreas and Alf’s macro views? You can keep up with Andreas through the...
06.18.2023
The ECB Hikes As The Fed Pauses - Is This 2008 Again?
In this episode, Alf and Andreas discuss the decisions from the Fed, ECB and Bank of Japan. In a few episodes, The Macro Trading Floor is about to stop for a while: want to keep up with Andreas and...
06.04.2023
It's All About Liquidity & Inflation Now
The debt ceiling soap opera is over and hence it’s time to rebuild the Treasury General Account - Alf and Andreas bust some of the myths around this topic, and discuss the real market implications out of this. They also...
05.28.2023
The AI 5 versus the S&P 495
Tech stocks are pushing stock indexes higher, with AI-related companies (NVIDIA?) leading the rally more decisively while the ''S&P 495'' doesn't join the party. Alf and Andreas discuss this trend, update us on the debt ceiling negotiations, and present some...
05.21.2023
A Macro Trader Playbook with Jim Leitner
How does a professional macro investor think about a multipolar world where investment opportunities and challenges might lie outside the US and China? How does he manage risks, correlations and how does he go about finding new trade ideas and...
05.14.2023
The Debt Ceiling Drama is Approaching
The X-Date for the debt ceiling is approaching and US politicians don't seem keen in finding a swift resolution. This will impact global liquidity, the bond markets and the US Dollar. Alf and Andreas discuss this theme, reflect over US...
05.07.2023
The Credit Crunch is Here
Subscribe to The Macro Trading Floor YouTube channel: https://www.youtube.com/channel/UCFk1qCySNf2FIzIidVVW81A -- Alf and Andreas discuss the recent Federal Reserve and ECB decisions and the market reactions. They also dig deep into the unfolding regional bank crisis and discuss the credit...
04.30.2023
First Republic Under Stress, Now What?
Subscribe To The Macro Trading Floor: https://www.youtube.com/channel/UCFk1qCySNf2FIzIidVVW81A -- On today's episode of The Macro Trading Floor, Alfonso & Andreas discuss the continued banking turmoil as First Republic Bank lost around $100 Billion in deposits & saw its stock plunge over...
04.23.2023
What's Happening In Global Macro?
Subscribe to The Macro Trading Floor YouTube channel: https://www.youtube.com/channel/UCFk1qCySNf2FIzIidVVW81A -- On today's episode of The Macro Trading Floor, Alfonso & Andreas take a tour of the global macro landscape by looking at the key themes to watch around the globe....
04.16.2023
Here Is Why Markets Are Rallying
On today's episode of The Macro Trading Floor, Alfonso & Andreas begin by breaking down the bank earnings on the back of the recent banking turmoil across markets. We then discuss why markets are rallying as everything from the...
04.09.2023
The Hiking Cycle Is Over
On today's episode of The Macro Trading Floor, Alfonso & Andreas discuss the recent economic data releases and the growth slowdown they are signalling. We then explore the chances of a Fed pause/pivot. Have the probabilities increased since the recent...
04.02.2023
The End of The US Dollar?
On today's episode of The Macro Trading Floor, Alfonso & Andreas begin by discussing the banking turmoil of recent weeks and how commercial real estate could impact loan books in both the U.S and Europe. Alfonso & Andreas then move...
03.26.2023
Banks: The Big Picture
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...
03.19.2023
From Liquidity To A Credit Crisis
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...
03.12.2023
Panic In The Banking System
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...
03.05.2023
It's Lonely On Disinflation Island
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...
02.26.2023
There's No Bull Case For Risk Assets
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...
02.19.2023
Why Is Powell Ignoring "Animal Spirits"
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...
02.12.2023
Recession, Soft Landing or Higher For Longer? | Kevin Flanagan
On today's episode of The Macro Trading Floor, Andreas and Alfonso welcome Kevin Flanagan Head of Fixed Income Strategy at WisdomTree for a discussion on everything happening in global bond markets. Since 2022, the consensus has flip flopped from...
02.05.2023
Animal Spirits Are Back For Markets
On today's episode of The Macro Trading Floor, Alfonso & Andreas take a look into another busy week in central banking with the Fed, ECB & BoE all announcing further rate hikes on their tightening cycles. Markets have rallied...
01.29.2023
Is The Recession Already Over?
On today's episode of "The Macro Trading Floor," Andreas and Alfonso interpret the latest macroeconomic data and prepare for a week of important central bank meetings. They wonder whether the recent bullish movements in nearly every risk asset is a...
01.22.2023
Are Markets Really Priced For A Recession? | John Normand
On today's episode of The Macro Trading Floor, Andreas and Alfonso welcome John Normand Cross-Asset Strategist, JPM alum for a global macro tour of the world. John walks through the most anticipated recession in history by looking at the...
01.15.2023
Macro Is Back With A Vengeance | Steve Drobny
On today's episode of "The Macro Trading Floor," Andreas and Alfonso welcome Steve Drobny Founder and CEO at Clocktower Group for an inside look into the hedge fund industry. With the past two years spurring the return of macro...
01.08.2023
The Chinese Reopening: Bullish Or Bearish Oil? | Nitesh Shah
On today's episode of "The Macro Trading Floor," Andreas and Alfonso welcome Nitesh Shah Head of Commodity and Macroeconomic Research at WisdomTree for a discussion on the China reopening, how it will effect commodity markets and it's impact on broader...
01.01.2023
A 2023 Global Macro Outlook | Alfonso Peccatiello & Andreas Steno Larsen
On today's episode of "The Macro Trading Floor," Andreas and Alfonso look back at 2022, before sharing their global macro outlook for 2023. Reflecting on the best trades of the year, Andreas and Alfonso remember the greatest trades put...
12.25.2022
Inflation Will Fall off A Cliff In 2023 | Warren Pies
On today's episode of "The Macro Trading Floor," Andreas and Alfonso welcome Warren Pies Founder of 3Fourteen Research for a discussion on what to expect as we head into 2023. Warren begins by walking through the current macro cycle...
12.19.2022
Felix Zulauf: The Fed Is Making A Policy Error
On today's episode of "The Macro Trading Floor," Andreas and Alfonso welcome Felix Zulauf of Zulauf Consulting for a discussion on the changing macro landscape and the policy error the Fed is making. Taking us on a global macro...
12.11.2022
Jurrien Timmer: The Trade For A 2023 Recession
On today's episode of "The Macro Trading Floor," Andreas and Alfonso welcome Jurrien Timmer Director of Global Macro at Fidelity for a discussion about the recession many analysts see ahead in 2023. How could a recession in 2023 effect...
12.04.2022
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...
11.27.2022
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...
11.20.2022
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...
11.13.2022
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...
11.06.2022
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...
10.30.2022
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...
10.23.2022
Is There A Bull Case For Markets? | Michael Gayed
On today’s episode of “The Macro Trading Floor,” Andreas and Alfonso welcome Michael Gayed of Toroso Investments and publisher of The Lead-Lag Report to the show for a discussion on if their is a bull case for markets. ...
10.16.2022
Bonds Will Perform Better Than Stocks, Here’s Why | Mikael Sarwe
On today’s episode of “The Macro Trading Floor,” Andreas and Alfonso welcome Mikael Sarwe, director and head of Strategy Sweden at Nordea, to the show. Sarwe argues that with collapsing liquidity driving down the money supply, the ability of...
10.09.2022
John Porter: Here Is How The Next 6 Months Will Look
On today’s episode of “The Macro Trading Floor,” Alfonso welcomes John Porter Principal of Mercator Financial Advisors to the show. With a background spanning from CIO at the World Bank, Managing Director at Barclays, working in several hedge funds...

What's The Macro Trading Floor about?

Download our free app to listen on your phone

The Macro Trading Floor episodes:

How To Trade Macro Now?

Early Signs of Weakness

A New Fed Put?

A Contrarian Macro Thesis

What if Hikes are Stimulative?!

Yes, But What Will Break Markets?

The Next Big Trade?

Macro Traders Reflections

Dario Perkins: These Central Banks Better Pivot Fast

Volatility is Coming

Animal Spirits Running Loose

Macro Opportunities Around The World

It's Back!

This Is It

The ECB Hikes As The Fed Pauses - Is This 2008 Again?

It's All About Liquidity & Inflation Now

The AI 5 versus the S&P 495

A Macro Trader Playbook with Jim Leitner

The Debt Ceiling Drama is Approaching

The Credit Crunch is Here

First Republic Under Stress, Now What?

What's Happening In Global Macro?

Here Is Why Markets Are Rallying

The Hiking Cycle Is Over

The End of The US Dollar?

Banks: The Big Picture

From Liquidity To A Credit Crisis

Panic In The Banking System

It's Lonely On Disinflation Island

There's No Bull Case For Risk Assets

Why Is Powell Ignoring "Animal Spirits"

Recession, Soft Landing or Higher For Longer? | Kevin Flanagan

Animal Spirits Are Back For Markets

Is The Recession Already Over?

Are Markets Really Priced For A Recession? | John Normand

Macro Is Back With A Vengeance | Steve Drobny

The Chinese Reopening: Bullish Or Bearish Oil? | Nitesh Shah

A 2023 Global Macro Outlook | Alfonso Peccatiello & Andreas Steno Larsen

Inflation Will Fall off A Cliff In 2023 | Warren Pies

Felix Zulauf: The Fed Is Making A Policy Error

Jurrien Timmer: The Trade For A 2023 Recession

How To Trade The Chinese Turbulence | Alex Campbell

Thomas Thornton: This Bear Market Isn't Over Yet

Jacob Shapiro: From Globalization To A Multipolar World

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

Debt, Demographics & Deflation Ahead | Raoul Pal

Natural Gas Prices Plunge, But For How Long?

Is There A Bull Case For Markets? | Michael Gayed

Bonds Will Perform Better Than Stocks, Here’s Why | Mikael Sarwe

John Porter: Here Is How The Next 6 Months Will Look