I had a great chat with @RobinWigg. It’s unfortunate that he chose the term “blamed”, that i blamed central banks. I don’t believe that’s true. I made my peace with CBs many years ago at the end of 2012. I think they’ve made fewer mistakes than in the past
and I congratulate them on not fighting the pull of market-determined natural rates to zero or even beyond...And there-in perhaps lies the malaise of the macro sector: fewer mistakes begets less profit making opportunities...
The rarity of Kindleberger moments means that legitimate error strewn sectors - Turkey, anyone? - are immediately priced to oblivion. The vol on the lira is >7 points wide! Your currency chart doesn't show the penury of the shorting cost or the lack of willing counterparties.
https://www.ft.com/content/3eacc99c-e2d0-45fd-9651-9b1014ad81ab
Macro hedge funds enjoy unlikely renaissance

Market volatility caused by the pandemic has been a boon for investors making big economic bets

https://www.ft.com/content/3eacc99c-e2d0-45fd-9651-9b1014ad81ab
And as for midlife crisis? Give me a break. Crisis is what you experience when you are forced to bend to financial conventions and pretend that you can see the future of markets. Crisis is living a lie. No crisis here my friends...
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