Cheap Convexity

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Cheap Convexity update
Dear Cheap Convexity community, I started the Cheap Convexity blog two years ago now, in the middle of January 2021. It was a challenging time in my…
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Jon Turek
2
Fed Overview into 2023
Where is the Fed as we enter 2023? As we enter 2023, in terms of Fed policy, things are actually fairly clear in a reaction function sense. The Fed is…
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Jon Turek
4 Macro Themes for Q1
Going into 2023 there are a few macro themes that I think are most relevant for markets going into the first quarter of this year. Markets seem to be…
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Jon Turek
2
December 2022
2023: The Return of Central Bank Divergence
One of the more obvious themes of this year, has been central bank panic. In a year that will go down as one of the biggest aggregate tightening in…
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Jon Turek
1
December FOMC Preview
The Beginning of the End
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Jon Turek
1
Yen as a Potential 2023 Theme
As many of you know, a big theme of this blog over the past couple months has been what is going on in Japan. The title of my last two Japan posts have…
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Jon Turek
3
November 2022
How Much Further can the GBP Rally Go?
It’s been an exhausting few months for the UK. An energy crisis, Trussenomics, Kwasi Kwarteng, LDI blowups, BoE QE, BoE rate hikes and now the potential…
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Jon Turek
1
The Dollar's Imperial Circle
While the dollar has been selling off quite meaningfully and the market continues to re-adjust post last weeks promising CPI data, I wanted to do a blog…
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Jon Turek
1
Has the Dollar Peaked?
I think one of the more topical questions in markets right now is the question of whether or not the US dollar has peaked. One of the more definitive…
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Jon Turek
2
November FOMC Preview: Peak Pace but not Peak Terminal
We have come along way from September FOMC and Jackson Hole. Following these two episodes, markets panicked because the thought was a dropdown in the…
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Jon Turek
October 2022
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