AVM's Global Macro CIO Ashvin Murthy on reflation, positive real rates, US dominance, Fed & no YCC
Global Macro Strategist
Summary: Our fourth Dragon Interview takes us back to checking in with AVM's Global Macro CIO Ashvin Murthy - Ash walks us through his latest top of mind thoughts, including positioning in the shifting regime, inflation, real yields, no YCC, the Fed & the potential US dominance theme.
Latest Dragon Interviews series, we check in with a very special guest, AVM's Global Macro CIO, Ashvin Murthy
Join the Dragon Interviews series, as Global Macro Consigliere KVP, interviews some of the best of breed players in the craft of steadily compounding wealth - be that across liquid or illiquid assets, global macro investing, venture capital, crypto, equities, commodities, currencies, bonds, private equity, property, etc.
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Post our foundation piece with Global Macro Hedge Fund AVM's Ashvin Murthy in Oct of 2020, we catch up with Ash to get his latest thoughts as we head into a likely series of very key Fed meetings in regards to them being neutral, vs potentially hiking, vs the YCC route.
We touch on a number of things, including:
- Bond yields & real interest rate levels - including context from previous ranges
- Inflation & deflationary forces
- Powell doing a great job at the Fed, letting the market doing the heavy lifting
- Biden administration & the corp. taxes on the way, as a function of funding infra.
- Red hot US economy, all pre the full opening of the country & still with a cold 1Q21 winter, plus with latest +$1.9 trn bill
- Yield curve control (YCC) likely in the pit-stop for a while
- US exceptionalism & the risks to emerging markets, especially the fragile five
- The broader global macro regime that we find ourselves in
Links: AVM Global Opportunity Fund — https://avmglobal.fund/
Watch our debut Dragon Interviews piece here — http://bit.ly/ditvashvin
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