Macro
Overview
Our macro approach identifies the long-term forces shaping the global economy, from policy shifts and liquidity cycles to demographic change and technological disruption, to determine where and how opportunities will emerge.
This dual framework allows us to move fluidly from theme to trade, connecting global context with on-the-ground fundamentals to build high-conviction positions that endure across market cycles.
Global Perspectives
Tactical Precision
Our strategy spans rates, currencies, equities, commodities, and credit. Using proprietary modeling and a nuanced understanding of monetary policy, we build high-conviction directional and relative value trades. This allows us to position across asset classes, geographies, and time horizons with clarity and discipline.
From Theme to Trade
We begin with structural shifts, tightening liquidity, supply chain realignment, demographic-driven demand, or other forces reshaping economies. From there, bottom-up analysis pinpoints the most investable opportunities, whether in a specific country, sector, company, commodity market, or credit instrument.
Top-Down Vision
Bottom-Up Precision
Multi Asset Execution
Themes are expressed through the optimal instruments, including sovereign bonds, interest rate derivatives, FX pairs, and commodity futures. Each trade is structured precisely, from directional positions to complex option structures designed for asymmetric outcomes.
Risk Aware Conviction
We invest with conviction but manage risk proactively. Positions are stress-tested against historical regimes and actively managed as conditions evolve. We scale exposure as our conviction builds and reduce it when the evidence shifts, ensuring portfolio resilience.
Connecting the Macro
to the Micro
By linking top-down vision with bottom-up precision, we anticipate and act on market shifts others miss. Our goal is to identify the themes that matter most, determine their impact, and position with the clarity and patience required to capture their full potential.