Generating Alpha In Macro | Capital Flows

On The Margin

In this episode, Capital Flows joins the show to discuss his macro philosophy & framework, why he was bullish after the VIX surge, and his views on the yield curve. We also discuss the equity bull market, whether the Fed will allow a recession, and the key drivers of bitcoin's price. Enjoy!

--

Follow Capital Flows: https://x.com/Globalflows

Capital Flows Substack: https://www.capitalflowsresearch.com/

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin

--

MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.

Learn more: https://www.mantrachain.io/

--

Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii

--

Timestamps:

(00:00) Introduction

(01:59) Capital Flows Research & Strategy

(04:49) Macro Philosophy

(07:48) Macro Framework

(11:39) Bullish After VIX Surge

(15:26) Credit & Duration Risk

(18:46) Mantra Ad

(19:26) Interest Rate Expectations

(25:51) Bull Vs Bear Steepener

(27:27) What's Priced Into The Curve

(30:38) Permissionless Ad

(31:17) What's Driving The Equity Bull Market

(36:31) Upside Tail Risks

(39:31) Will The Fed Allow An Extended Recession?

(43:58) Bitcoin Price Drivers

--

Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.