The Macro Trading Floor

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About the show

Latest episodes

• 6% Yields Next & Will Stonks Handle It?

  October 9, 2026 · 41 min

  Alf and Brent discuss the relentless bond yield and USD move. Can we get to 6% yields in the US, or even higher? And will stonks be able to handle it?

• Macro Blowups Everywhere - What Now?

  October 2, 2026 · 39 min

  Alf and Brent are back to discuss the various macro blowups we are witnessing simultaneously: French spreads, front-end of the bond market, mortgage-backed securities, EM carry and so on. What's the best framework to apply for each of…

• On Bessent, Gold & Idiosyncratic Trades

  August 28, 2026 · 36 min

  Alf and Brent are back to discuss the Bessent buyback plan and its impact on markets. The duo focuses on gold, the long-end and the USD as potential release valves. The discussion then moves to two macro idiosyncratic ideas.

• On Sizing Options, The Fed and The JPY

  August 9, 2026 · 37 min

  In this episode, Alf and Brent talk about the Fed's likely reaction function to incoming data and the Bessent/Japan accord on the JPY. The duo then discusses one of the trickiest questions for macro PMs: when to use options, and how to…

• Warsh Woke Up The Bond Vigilantes

  July 31, 2026 · 38 min

  Alf and Brent discuss the significant market reaction to Warsh's press conference: the Fed handed over the keys to the bond market, and now Bond Vigilantes are in charge until data comes in to set the direction straight for everyone. How…

• The Orange Variable

  July 10, 2026 · 35 min

  Brent and Alf discuss the n-th injection of the Orange Variable in markets: Trump decided to escalate again with Iran, and even suggested the ceasefire might be over altogether. The duo discusses how to approach these injections of…

• The Rebasement Trade

  June 26, 2026 · 31 min

  Alf and Brent discuss the major market shifts since the Warsh press conference. Is this a big macro shift or just a mini-trend that will ultimately slow down or even reverse?

• The Inflation Ghost, Gold and Options

  May 22, 2026 · 37 min

  To reach out to Alf: alf@palinurocapital.com (or Alfonso Peccatiello on BBG) To reach out to Brent: bdonnelly@spectramarkets.com (or Brent Donnelly on BBG) In this episode, Alf and Brent discuss the best risk/reward ways to position for…