People are yet to understand that we have a macro hedge fund...
Raoul Pal@RaoulGMI
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Apr 04, 2025
~1 min read
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People are yet to understand that we have a macro hedge fund manager running the Treasury, not an ex-Central Banker.
He deeply understands liquidity impacts and how to drive financial conditions to drive liquidity and how that in turn drives the economy and markets.
His entire strategy is to lower the three legs of Financial Conditions - dollar, rates and oil to goose the business cycle (ISM)
Our GMI Financial Conditions Index is screaming higher (conditions loosening) as is Global M2 and even more importantly GMI Global Total Liquidity.
The effects should kick-in in the next week or two and the recovery in asset prices and economic data should be sharp in the coming weeks and should be persistent.
I'll do a full video on this for all on Monday. Can't stress how important this all is vs Tarrifs! "narratives"
He deeply understands liquidity impacts and how to drive financial conditions to drive liquidity and how that in turn drives the economy and markets.
His entire strategy is to lower the three legs of Financial Conditions - dollar, rates and oil to goose the business cycle (ISM)
Our GMI Financial Conditions Index is screaming higher (conditions loosening) as is Global M2 and even more importantly GMI Global Total Liquidity.
The effects should kick-in in the next week or two and the recovery in asset prices and economic data should be sharp in the coming weeks and should be persistent.
I'll do a full video on this for all on Monday. Can't stress how important this all is vs Tarrifs! "narratives"
