The Tactical Non-Consensus Trade
Featuring Charlie McElligott
Published on: April 11th, 2019 • Duration: 17 minutes • Asset Class: Bonds/Rates/Credit, Equities • Topic: MacroIn the last few months the Fed has aggressively changed the direction of its rhetoric and policy, but what does that mean for investors? Charlie McElligott, managing director of cross-asset strategy at Nomura Holdings, discusses the March “Fed Rate Cut Panic”. He says it caused the rally in U.S. fixed income to overheat and created a bearish narrative on a potential recession. This may present investors with an opportunity to fade the consensus “slow-flation” story and reallocate assets accordingly. Filmed on April 8, 2019 in New York.