Midday Macro

2025 Costanza Trades – LAST MIDDAY MACRO

The Melt Up Continues: Falling Volatility Keeps Equities and Rates Well Bid

The Trump Trade Resumes as Markets Navigate Increased Headline Volatility

You Reap What You Sow: Is Trump 2.0 Stagflationary?

The Unlikely Resilience of Risk Appetite

Election vs. Earnings: Market’s Coming Dilemma

Labor Market Sentiment Is Too Negative Given Where Growth Is

Beijing Goes Big, But Is It Enough?

Policy Error No More? Powell Gets His Way and Potentially Saves the Day

Sequential 25bps Cuts Still Modal Outcome Until Q2 2025, but Deteriorating Labor Markets Will Keep Fed Officials “Open Minded”

Historical Equity Rally Pauses as Markets Weigh a Mixed Macro Backdrop

Calmer Markets in “Wait and See” Mode Ahead of Next Week’s Heavy Data Deluge