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Learn/Macro for a stock book

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Learn Macro for a stock book

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B Basic

Rates and the equity multiple8m
The data calendar and the surprisePro8m
Currency and commodities into earningsPro9m

A Advanced

The curve, credit spreads, and the cyclePro10m
Global macro tradesPro11m
When macro hits a stock bookPro10m

FlashcardsPro0/14
Basic quizPro80% passes
Advanced quizPro80% passes
Terms

Macro for a stock book

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of 6 lessons: 0
of 14 cards

Flashcards Start the first lesson

How rates, data, currencies, commodities, and credit reach the stocks a fund owns, and how a global macro trader expresses a view: carry, curve trades, and choosing the instrument.

BBasic3 lessons

1Rates and the equity multipleA stock is a claim on cash flows far in the future, so its price moves with the rate used to discount them. Long dated cash flows move the most.8 min
2The data calendar and the surpriseProMarkets move on the gap between a release and what was expected, and on what the gap means for the central bank. Know the main releases and how a surprise travels.8 min
3Currency and commodities into earningsProA move in the dollar or in oil reaches a company through revenue, costs, or both. Work out the net effect on operating income before you call it good or bad.9 min
Basic quizPro10 questions, 80% passes

AAdvanced3 lessons

4The curve, credit spreads, and the cycleProThe yield curve and credit spreads are the bond market's read on growth and default. Equity investors watch both because they often move first.10 min
5Global macro tradesProA macro fund expresses views on rates, currencies, and indices. The craft is finding what is priced, picking the instrument with the best payoff, and sizing the carry against the move.11 min
6When macro hits a stock bookProA long short book that looks stock specific can carry a large hidden bet on rates, oil, or growth versus value. Find it before the market does.10 min
Advanced quizPro10 questions, 80% passes