Having had a couple of core theses validated by recent data and price performance, Julian addresses tactics and strategy while continuing to track the core fundamental backdrop and cast his net wider for evidence of cyclical rotation.

Julian Brigden and Raoul Pal reunite to review the In Focus portfolio performance and discuss how recent economic developments fit into their respective frameworks. Moderated by MI2 Partners' Harry Melandri.

This publication is your ‘go-to’ to view a summary of trade recommendations proposed by Julian and Raoul in their respective In Focus pieces. Each month, we update the performance of these trade recommendations, adding and removing trades as per the advice given in any In Focus publication or Flash Update.

It is impossible to budget for the unknown. Incontrovertibly, a new “known known” has raised its ugly head. Defence spending is rising as a percentage of world GDP. A lot. Below we contextualise what “a lot” is and make some unsettling assumptions about both the sums of money involved and the strategic difficulty of re-imagining military capacity for C21. Peace dividend no more. Regrettably, grist to the mill of deglobalisation, oscillation and fiscal dominance.

Macro Insiders

Deep Dive

Europe is sick. Or so everyone tells us. My analysis is admittedly a bit mixed, but it identifies risk factors and there are more positives than negatives. Analysts have been wrong-footed for months by better-than-expected European data. Will that continue and how will the ECB respond as more data comes their way?

In this live session, Julian Brigden and Harry Melandri of MI2 Partners are joined by Andrew Taylor, founder of the event-driven geopolitical risk intelligence firm, Political Alpha, and his colleague Todd to dive into the current state of the economy, the geopolitical factors influencing macro trends, and emerging risks. Plus, they'll take questions from Pro Macro members.

This publication is your ‘go-to’ to view a summary of trade recommendations proposed by Julian and Raoul in their respective In Focus pieces. Each month, we update the performance of these trade recommendations, adding and removing trades as per the advice given in any In Focus publication or Flash Update.

Where macro meets Crypto… The Everything Code. Macro indicators are coalescing nicely with the seasonal and cyclical patterns of past analogues. As we enter another Crypto summer, which coincides with a BTC halving and tailwinds from both liquidity and the US Presidential election, expect 2024 to witness the next big leg up in BTC, ETH and AltCoins.

I want to use the beginning of the year to clean up the Exponential Age basket. Yes, it has been performing very well, but there are a few dogs I would like to swap out for better opportunities.