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1) Friend used to trade European government bonds. His colleague the desk was the son of Mario Draghi (ex-ECB President), trading interest rate swaps. Yes - he was market making derivatives in which the underlying reference rate was set by his dad.
2) Used to joke that on ECB rate-decision days one could find edge in asking what type of cereal his dad ate for breakfast, match that against previous patterns and then pay/receive EUR IRS accordingly. Or just mirror his book. #alpha
3) One can not trade traditional macro without paying attention to economic data releases and consensus around central bank behavior. Example: Non farm payrolls beat expectations. Stonks should go up right?
4) Or maybe better data -> market prices in lesser likelihood of lower rates for longer; treasuries sell off, stonks sell off. USD rallies. (Not saying this is what's happening now but we have seen plenty of these periods in the market).
5) Macro traders have all been through the 3AM wake-up to read the transcript release of some CB chairman speech and having to worry about him/her using words like ‘subdued’ one time too many times in describing the economic outlook, which will then cause a 10bp move rates.
6) Crypto, despite it’s volatility and being a 24/7 market is in many ways less stressful given its ‘purity’ (as weird as that sounds), being largely distanced and free from nonsense related to economic/monetary interventionism dictated by the few.
7) CT is our ECB board. And decisions are always unanimous. Pamp it @loomdart.
