male silhouette.Erik Townsend and Patrick Ceresna welcome Charlie McElligott to MacroVoices. Erik and Charlie discuss:

  • Impact of policy change on the yield curve
  • Drivers of volatility in rates
  • Fed taking the pro-inflationary stance
  • Futures driven equity unwind
  • CTA positioning on the SPX
  • SPX/SPY/QQQ Gamma/Delta extremes
  • Consolidated Gamma flip
  • VVIX and VIX positioning
  • Vol is either "too high" or S&P should be a lot lower
  • Buyside embrace economic pessimism



We strongly recommend that you download the chart book that accompanies this interview, as Erik and Charlie will refer to it throughout the interview. Registered users here at already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (65.50 MB) . | Download the podcast transcript:   pdf Here (175 KB)

Charlie McElligott is Managing Director and Cross-Asset Macro Strategist for Nomura’s Global Markets business.

Mr. McElligott is based in New York and joins Nomura from RBC Capital Markets where he was most recently a Managing Director and Head of US Cross-Asset Macro Strategy.

Mr. McElligott concentrates on macro markets with a focus on positioning and sentiment, alongside quantitative factor analysis. His goal is to provide actionable insights through daily content and idea generation.