Episode Details
| Title | The Fed's Balance Sheet Plans Are Kryptonite For Risk Assets | Andy Constan |
|---|---|
| Date | 2/26/2025 |
| Podcast | Forward Guidance ā |
Key Insights
Bullish:
- š¢ $SHORTTERMRATES - Andy is heavily invested in short-term interest rate futures, which he describes as conceptually similar to a leveraged position in a two-year note. This position is based on his expectations for the path of interest rates.
- āMy principal risk right now is long, what what are called silver futures, which are short term interest rate, futures tools that allow you to bend on the path of interest rates. Conceptually, it's like owning a levered position in a two year note.ā - Andy (1:04:18)
Bearish:
- š» $SPX - š
- š» $TREASURIES - š