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.

Michael discusses the poor performance of bonds throughout the year as they failed to hedge equity drawdowns. What does this mean for the traditional 60/40? And how does the YTD performance compare with periods throughout history? Finally, Michael 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 Michael: https://twitter.com/leadlagreport
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
(01:05) A Recap From London
(14:07) Feature Interview With Michael Gayed
(17:27) Is This Time Really Different?
(20:31) Death By 1000 Cuts Or A Systemic Event?
(25:01) Investor's Are Underestimating How Serious This Is
(26:52) Expecting A Prolonged Bear Market
(29:26) Analysing The Risk On/Off Environment
(31:48) The Housing Market
(35:25) Michael's Actionable Trade Idea
(40:27) 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.