In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough hits on his top themes for the day, beginning with the yield curve’s moves post-Fed Decision, and why it’s a further confirmation of #Quad4. He also explains what he was shorting on the back of the meeting (which he explained to subscribers immediately after this clip).
“This has been a monster move in Yield Curve terms, which delivered a new #Quad4 Cycle Low… if you look one year ahead, the curve is inverted.”
"Everyone on CNBC who's gone from being an epidemiologist, to being a geopolitical war expert, is now an expert on the shape of the yield curve."
"What power tools Powell did yesterday was wrong; it was a policy mistake… The first of what could be many."
Prior to the March FOMC decision, we hosted financials & macro expert Chris Whalen along with Keith McCullough on HedgeyeTV for an hour-long rates masterclass. Chris broke down everything from the Fed’s eff up, to MMT, to why market expectations are completely missing the mark, and much more. We highly recommend you watch the full replay here. It’s on the house; you’re welcome.
Here's a taste of what Chris had to say:
"The Fed should focus on getting rid of QE and reducing their Balance Sheet, rather than hikes.
Fed Funds pricing in up to 4-5 hikes? Not gonna happen. If they get it up to 2, I'd be astounded."
