The market looks calm — but beneath the surface, one move could change everything.

In this episode of Macros & Flows, we break down the “1% systematic sell trigger” and why a seemingly small decline in equities could force a much larger shift in positioning from trend-followers, volatility-targeting strategies, CTAs, and other systematic players. When markets become dependent on flows, technical levels matter more than most investors realize.

We unpack what could trigger the next wave of mechanical selling, why liquidity can disappear quickly when everyone is leaning the same way, and how investors should think about the difference between a normal pullback and a flow-driven air pocket.

Calm markets don’t always mean safe markets. Sometimes they just mean the trigger has not been hit yet.

Disclosure: This podcast is for informational and educational purposes only and should not be considered investment advice. Markets involve risk, and listeners should conduct their own research or consult a financial advisor before making investment decisions.

Markets are still trading with a sense of euphoria — but the growth data is starting to tell a very different story.

In this episode of Macros & Flows, we breaks down the collision between resilient risk appetite and a sharp slowdown in the underlying macro backdrop. We look at why investors may be leaning too heavily into the soft-landing narrative, what a violent growth stall could mean for equities, rates, credit, and commodities, and where market complacency may be most exposed.

The key question: is this rally confirming a durable expansion, or is the market simply ignoring the slowdown until it can’t anymore?

Disclosure: This podcast is for informational and educational purposes only and should not be considered investment advice. Markets involve risk, and listeners should conduct their own research or consult a financial advisor before making investment decisions.

Markets are still climbing, but the signal beneath the rally is getting harder to read.

In this episode of Macros & Flows, we break down why market momentum may be “flying blind” — with investors leaning into risk even as macro visibility, policy expectations, liquidity conditions, and positioning risks become more uncertain. The rally may look resilient on the surface, but beneath it, the market’s radar is starting to fade.

We discuss what’s driving the current momentum, where the blind spots are forming, and why the next phase of the market may depend less on price action — and more on whether fundamentals can catch up.

Disclosure: This podcast is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Always conduct your own research and consult a qualified financial advisor before making investment decisions.