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Global Macro Trading for Idiots - Citrini Research

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Since I have been posting about curve trades and treasury future butterflies in the chat recently, I’ve gotten a few of questions about how/why to implement them. While they’re certainly a strategy that should be employed by more sophisticated investors, understanding the yield curve is an essential part of understanding the significance of bond market signals that apply to the broader economy and curve trades can provide payoffs for specific economic scenarios that are hard to find elsewhere. If you’re already a paid subscriber that knows how trading the curve works, skip to the end for an update on the position mentioned in the chat back on July 14th. So, with that said, I’d like to introduce you to the first installation of my series: Playing shifts in the shape of the yield curve can be an excellent way to express your view on the economy and the monetary/fiscal response to it without having to worry about idiosyncrasies in markets like commodities or stocks. In order to do so, th

Since I have been posting about curve trades and treasury future butterflies in the chat recently, I’ve gotten a few of questions about how/why to implement them. While they’re certainly a strategy that should be employed by more sophisticated investors, understanding the yield curve is an essential part of understanding the significance of bond market signals that apply to the broader economy and curve trades can provide payoffs for specific economic scenarios that are hard to find elsewhere. If you’re already a paid subscriber that knows how trading the curve works, skip to the end for an…

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