A selection of the firm's market research, published in full. A window into how Iron Hall Capital reads markets, the reasoning as much as the conclusion.
The Federal Reserve held rates at the first meeting under a new chair, an outcome priced at 99.6 percent. The decision was never the story. We read the curve as it turns, quietly, from a cut to a hike.
Read the note →Large speculators are heavily net short US duration and broad equities, while the curve has re-steepened out of inversion. A reading of where the crowd is leaning, and what the curve is pricing.
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