Markets Exposed to Complacency Test

Featuring Dean Curnutt

Dean Curnutt, of Macro Risk Advisors, joins Tom Thornton to discuss the intricacies involved in trading volatility at the end of credit cycles. Suggesting that markets aren’t as safe as they appear to be, Dean surveys the economic landscape and identifies the risks, including the unsettled geopolitical environment and the liquidity in credit markets. Filmed in New York, on September 21, 2017.

Published on
27 September, 2017
Topic
Derivatives, Volatility, Macro
Duration
40 minutes
Asset class
Equities, Bonds/Rates/Credit
Rating
34

Comments

  • RM

    Ryan M.

    5 6 2018 14:44

    0       0

    I've seen this twice now. Love the way Dean articulates his views with such clarity. Please bring him back again.

  • JW

    James W.

    26 11 2017 05:26

    1       0

    I like Tom T., but unfortunately he came to this interview entirely unprepared, and Mr. Curnutt clearly knew it. I've seen him interviewed numerous times on Bloomberg and also this past May on Jim Grant's podcast, and he unfailing brings unique information and perspective to the table. Unfortunately we did not get a shred of that here - a great opportunity missed.

  • CT

    Christopher T.

    16 10 2017 04:33

    1       2

    Tom is an awkward interviewer

  • SS

    Simon S.

    8 10 2017 18:50

    0       0

    Dean-Sell Side, Tom-Buy Side...

  • LC

    Luiz C.

    3 10 2017 16:17

    0       3

    Good interviewee, bad interviewer, painful to watch

  • CC

    Charles C.

    30 9 2017 16:43

    5       0

    Great interview. Please bring him back.

  • RI

    R I.

    29 9 2017 20:51

    5       0

    Sounds like Tom loves CNBC and Barrons.

  • KS

    Kathleen S.

    28 9 2017 19:33

    0       1

    Government Bonds don't really trade at negative rates if a central bank that prints money out thin air is the only one buying them.

  • WS

    William S.

    28 9 2017 19:14

    9       0

    Engaging interview. However, Dean made one comment that made me go, "Huh?" Delineating the several areas where volatility is inordinately low, he also included "currency volatility." My observation is that the volatility suppressed out of all other asset classes has migrated with a vengeance to the currency markets. In just the past several days we have seen USDJPY drop 300+ bps to 107.40, only to then rocket upwards to 113.40 over the course of just a few more days. Single day moves of 100+ bps have become commonplace -- something that would never have been seen in years past. This suggests to me that currency risk is now higher than ever before.

  • Sv

    Sid v.

    28 9 2017 17:56

    1       0

    Thank you RV

  • RH

    Robert H.

    28 9 2017 10:50

    1       0

    Regarding Home Screen.
    I find the Artistic or Iconic Home screen to be clever and memorable:
    Headshot for A Rogers, Faber or Bass I vote yes others no..

  • SD

    S D.

    28 9 2017 07:08

    10       0

    Interesting. Was also hoping to hear Tom on some of his recent calls and outlook and demark things and sentiment etc. Could he come on regularly like once a month to give a view? That'd be fierce value add, especially right now, or for the next while.

  • TM

    The-First-James M.

    27 9 2017 23:57

    2       0

    Loved this. Really valuable insight. Thanks.

  • DM

    Daniel M.

    27 9 2017 20:56

    14       2

    I would recommend using the headshot of the person being interviewed for the home screen. It's hard to know who looks interesting when you have just stock photos that mean nothing. The one for Dean is an elephant. Why an elephant? Why not just put a picture of him.

    • sw

      shaun w.

      28 9 2017 03:46

      1       0

      elephants have long memories. Maybe it relates to the myopia of late bandwagon investors

  • TT

    Thomas T.

    27 9 2017 19:10

    6       0

    It was a pleasure interviewing Dean. He's exceptionally sharp on all things macro. Hope to interview him again soon.

  • RA

    Robert A.

    27 9 2017 18:12

    21       1

    Now THAT was a great vintage RV interview. Very tightly covered 10-12 important topics with out a wasted word or breath. Tom did a masterful job on the interview and, IMO, it's not as easy as he made it look---you knew he was prepared and knew the ground he wanted to cover. To think that we EVER had to endure CNBC's 2 min soundbites where everyone just talks over each other and nothing of substance ever gets said. I'd take a RV quality interview like this and the great comments section over ANY other medium of intellectual exchange. Outstanding job you guys!

  • AG

    Amir G.

    27 9 2017 18:12

    6       2

    very informative, very articulate, very clear and to the point. Every second of this interview counts, I'm going to watch it again at least once more.

  • CG

    Chase G.

    27 9 2017 17:10

    6       0

    Thanks Thomas, great interview!!

  • TD

    Tom D.

    27 9 2017 15:13

    1       0

    Can't find the comments.