Good Wednesday evening MacroEdge Readers & Community,
I hope you have had a fantastic first half to your week and you were able to catch the early morning note - which I think I squeezed out about 3am PST… it was a late, late one here on my end. In the Strategy Note this evening - Six will take it away and deliver commentary in “The Collision course - Bonds, Barrels, and the Post-Election Escalation Window” - exploring the latest in the bond market, energy market dynamics, and opportunities that we can capitalize on during the quarter.
My intro will stay very short this evening since I will be providing a longer update over on MacroEdge Oil and Gas Research and there’s more to come this week, which you can find outlined in the Weekly Macro Note schedule for the week.
Have a fantastic second half of your week, and let’s keep rocking.
Strategy Note: The Collision Course - Bonds, Barrels, and the Post-Election Escalation Window
Flagship performance as of today’s close has completely eliminated the drawdown since inception but we still have work to do to set a new high watermark. Last week I wrote that I was looking forward to eliminating the drawdown and pulling ahead, and we are well on our way. On the shorts highlighted last week, the morning of the 15th CRWV and its bonds were bouncing and the sell side came out in voracious defense of the neocloud that at that moment in time was the epicenter of fears driving that leg of the selloff, so I closed the short positions in EWY and SMH. The shorts had already paid over 10% each in just a few sessions. Both have bounced since which is fine. We were paid for the move that we had a view on.
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