Macro & Volatility™
Macro & Volatility™
Josh Silva and Michael Purves
Macro & Volatility™ #24: Certain things are true... for now!
19 minutes Posted Oct 6, 2025 at 9:17 pm.
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Show notes
  • Risk-on sentiment is reinforced by accelerated global earnings
  • Markets go up... volatility goes up
  • The Magnificents’ P/E-to-expected growth is favorable — not true for the Everything Else
  • Cross-asset correlations are already historically high — a short hop to “1”
  • Gold is expected to move higher, driven by global populist monetary and fiscal stimulus