Alf

Something big is happening in China. For the first time ever, 2-year government bond yields in China seem headed below 1%. Thread. 1/

Alf

@MacroAlf

The bond market is intimidating: it's full of jargon and practitioners tend to overcomplicate it. Today, let me share with you my Bond Market 101 approach. It will help you under...

Alf

@MacroAlf

Here we are. After a prolonged inversion, the US yield curve just dis-inverted. Here is why it matters. Thread 1/

Alf

@MacroAlf

This picture is a great visualization for how our monetary system works. Your house price in $$$ keeps going up. Your house price measured in Gold does not. Here is how it works:...

Alf

@MacroAlf

There is a huge macro theme unfolding under our eyes. Yet almost nobody is paying attention. Big things are going on in China. 1/

Alf

@MacroAlf

It's not the yield curve inversion investors should worry about. It's the late-cycle bull steepening which is unfolding right now. Thread. 1/

Alf

@MacroAlf

Yield Curve 101. A Primer on how the yield curve works. Thread. 1/

Alf

@MacroAlf

The Fed hiked rates above 5%, and yet the US economy hasn't broken yet. Here is why. Thread. 1/

Alf

@MacroAlf

Ever wondered what's like to launch a macro hedge fund these days? Here are the 7 key insights I got so far: 1/

Alf

@MacroAlf

The yield curve is displaying a rare and dangerous pattern which often threatens financial stability. All you need to know about the Bear Steepening. Thread. 1/

Alf

@MacroAlf

Here is how the US is preparing to unleash even more liquidity. Thread. 1/

Alf

@MacroAlf

Liquidity is going up, liquidity is going down, liquidity here, liquidity there. Sure: but what is ''liquidity''? Thread. 1/

Alf

@MacroAlf