Foreign Exchange

Strategies and developments relating to currencies and the foreign exchange markets

Real Vision Jan 21, 2020
Canadian Banks: "The Anchor That Drags Your Whole Portfolio Down"
Kevin Muir, editor of the Macro Tourist newsletter, sits down with Real Vision’s Ed Harrison to discuss why he believes interest rates and inflation, long tempered by dovish monetary policy, will rise once again. He sees Treasury Inflation-Protected Securities (TIPS) as a good way to hedge against the U.S. dollar’s inflationary risk and recommends shorting both the Canadian dollar and Canadian banks. He also explains his bullish thesis on energy stocks, which he argues is a bargain at current prices. Filmed on January 13, 2020, in Toronto.
Real Vision Jan 21, 2020
Canadian Banks: "The Anchor That Drags Your Whole Portfolio Down"
Kevin Muir, editor of the Macro Tourist newsletter, sits down with Real Vision’s Ed Harrison to discuss why he believes interest rates and inflation, long tempered by dovish monetary policy, will rise once again. He sees Treasury Inflation-Protected Securities (TIPS) as a good way to hedge against the U.S. dollar’s inflationary risk and recommends shorting both the Canadian dollar and Canadian banks. He also explains his bullish thesis on energy stocks, which he argues is a bargain at current prices. Filmed on January 13, 2020, in Toronto.
Real Vision Jan 14, 2020
A Classical Charting Victory Lap
Aksel Kibar, CMT, founder of Tech Charts Research & Education Services, has espoused the power of classical chart patterns in all of his Real Vision appearances. In this episode, Kibar returns to pound this drum once more and examine how a few of these patterns have played out since his earlier interviews. He also highlights a handful of new opportunities poised to break out from multiyear classical chart patterns. Filmed on January 13, 2020 in Varna, Bulgaria.
Real Vision Jan 10, 2020
Has the Bond Market Finally Turned?
Tony Greer, editor of The Morning Navigator, returns to Real Vision in 2020 with a bold bet on the bond market and reviews where he thinks yields are headed next. In this interview with Justine Underhill, Greer examines the current macro environment, highlights emerging inflationary signals, and discusses how traders should position for a bear-steepener in 2020. He also notes a specific ETF – $IEF – to play the thesis and lays out the trade’s risk/reward parameters. Filmed on January 8, 2019.
Real Vision Jan 09, 2020
The Consequences of Clearing Macro Overhangs
Jay Pelosky of TPW Investment Management sits down with Real Vision's Ed Harrison to discuss his investment framework for 2020. Looking at macro factors that could surprise market participants, Pelosky breaks down why the investors and institutions are unprepared for the level of inflation he expects to bear out in 2020. Additionally, Pelosky explains why an unexpected inflationary event could send the equity markets soaring and shock the bond market into downturn. Filmed on December 20, 2019 in New York.
Real Vision Dec 13, 2019
Preparing for 2020 with Macro and Technicals
Rich Ross, CMT, managing director and head of technical analysis at Evercore ISI, pulls no punches in his Real Vision debut. Ross breaks down ALL THE CHARTS - touching on equities, inflation, bond yields, and oil. He also explains why healthcare may be a surprise outperformer in 2020 and draws parallels between today and the late 90's bull market. Filmed on December 12, 2019 in New York.
Real Vision Dec 11, 2019
The Perils of Passive Indexation
In a long awaited interview, legendary investor Mike Green joins Real Vision CEO, Raoul Pal, to discuss the corporate credit cycle, the rise of passive indexing, and the consequences of mass baby-boomer retirement. Green argues that the simple algorithmic logic of passive vehicles causes irrational capital allocation. He asserts that these passive strategies only make money in a liquidity-enhanced environment, and he explains that stresses to the indices’ lack of cash reserves could create market volatility. Green and Pal examine the shift to passive vehicles and how that shift is molding the fate of both baby-boomer pensioners and millennials. Filmed on December 5, 2019 in London.
Real Vision Dec 10, 2019
The Kaplan Doctrine: Conservation, Preservation, and Value
Dr. Thomas Kaplan, legendary gold investor and philanthropist, joins Dan Tapiero of DTAP Capital to discuss his illustrious career in the natural resources space, some of Kaplan’s biggest winners, and the philanthropic efforts that he passionately pursues. In addition to his natural resource brilliance, he founded the Panthera Corporation, the world’s largest conservation effort to save the world’s big cats. Kaplan explains why both consolidation in the natural resources industry and global macroeconomic factors are aligning in a way that signals his latest venture, NOVAGOLD, could be the biggest opportunity he has ever encountered. Filmed on November 26, 2019 in New York.
Real Vision Dec 04, 2019
CLOs: "You Look Better At Closing Time"
Are ultra-low interest rates putting monetary “beer goggles” on financial markets? Danielle DiMartino Booth of Quill Intelligence sits down with Peter Boockvar, CIO of Bleakley Advisory Group, to discuss the systemic risks to the global financial system. They deconstruct the growing challenges facing central banks. Boockvar examines the explosion of collateralized-loan-obligations (CLOs), predicts a grim future for companies with extreme debt/EBITDA ratios, and argues that the Fed’s liquidity injections have created a cycle of financial addiction to low interest rates. Filmed in New York on November 20th, 2019.
Real Vision Nov 26, 2019
How the Fed Sees Bitcoin: An Insider's View
Simon Potter is the former head of the New York Fed’s Markets Group and former manager of the Fed’s massive System Open Market Account — the $3.5 trillion trading vehicle used to execute US monetary policy. He joins Roberto Perli, co-founder & partner at Cornerstone Macro, for a deep dive into cryptocurrency from the perspective of a central bank senior policymaker. Potter provides his unique take on money, markets, and digital currencies. Filmed on November 6, 2019 in New York.
Real Vision Nov 25, 2019
A Dirtnap in the Zeitgeist
Jared Dillian, author of the newsletter “The Daily Dirtnap,” sits down with Tony Greer, founder of TG Macro, to talk about the market stories catching their eye: curve steepeners and cannabis stocks. Dillian breaks down his prescient call on Beyond Meat from this spring and weighs the possibility and the impact of an Elizabeth Warren Presidency in 2020. Filmed on November 14th in New York.
Real Vision Nov 22, 2019
Alain Van Loo
Alain Van Loo, Chief Investment Officer at The Sharp Financial Group, joins Jim Grant to discuss the state of the US financial system and global capital markets. Van Loo and Grant unpack some of the crucial but frequently misunderstood underlying plumbing of the US financial system, with a focus on the money markets and the Fed’s repo operations, before widening the lens to talk about investment opportunities in developed and emerging markets. Filmed on November 7th in New York.