Macro strategies have been having a bit of a renaissance as of late, but what that looks like widely varies as the belief about what the future holds for inflation and interest rates has become a divisive issue in and among market observers.
Decio Nascimento, CIO of $115 million macro hedge fund firm Norbury Partners, draws a distinct line between the traditional discretionary macro of the past and today’s macro strategies, which have been increasingly impacted by both the U.S. Federal Reserve and politically fraught inflation speculation.
“For the past six months it . . .
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