ENROLL FOR THE PROGRAMME
DATES: |
9 JAN & 16 JAN 2021 |
DURATION: |
2 SATURDAYS(9AM – 3PM SGT, GMT+8) |
STUDY MODE: |
WEBINAR |
FEE: |
S$2997 |
PROGRAMME OVERVIEW
You have mastered the basics of trading. You are now ready to build your portfolio by analysing Global Macro developments so as to capitalise on multi-year geopolitical and macroeconomic trends.
Global Macro Trading is the ability to distil global narratives into a thematic market hypothesis that you believe will play out in the long run. The aim is to analyse and interpret macroeconomic and geopolitical events and profit from the possible outcomes using the most optimal expression among a range of possible trading products – including currency, interest rates and equities.
With volatility, there are sure to be macro dislocations that will produce great opportunities. This programme is designed to help you identify these dislocations that can turn out to be the start of multi-year trends.
This skill is in demand given the changing investment landscape where Government and Central Bank Narratives, Polarisation In Politics and Geopolitical Risks drive markets. As such, this environment requires a shift from Passive Investing to Active Management for traders to maintain their edge.
WHY LEARN FROM US
TrackRecord Asia is founded by market practitioners who headed investment banks and hedge funds. The depth and quality of our programmes are appreciated by Investment banks and Financial Institutions who continue to engage us to train their traders. This is YOUR chance at learning a skill set used by successful traders.
YOUR PROGRAMME INSTRUCTOR
Vee has over 20 years of experience in the financial markets dealing in Foreign Exchange, Rates, Equity Index Futures, Equities and Commodity Futures.
He joined Morgan Stanley in 2010 to help build their Asian currency and interest rates franchise. In his role as Head of Asian ex-Japan offshore non-deliverable currency and interest rates, Morgan Stanley became one of the thought leaders in risk sharing and pricing within the Asian Ex-Japan space. From 2008 to 2010, he headed the Cross Markets trading team in Deutsche Singapore.
In 2003, together with a few partners, he co-founded NorOdin Investment Management LP, a hedge fund specializing in global macro trading with peak assets of 1.2billion USD. His trading career started with Chase Manhattan Bank (later JPMorgan Chase) London in 1997, with postings in the offices of JPMorgan in Singapore, Seoul and New York as well.
WHAT I’LL LEARN
Understand what Professional Traders Focus on
How to ride Multi-Year trends
Understand what truly drives market appetite for risk
How to detect stress in the financial system
How to position your investments to reap maximum benefit from macroeconomic situations
PROGRAMME OUTLINE
What is the impossible Trilemma that countries cannot solve?
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The Trilemma
- Free Capital Flow
- Independent Monetary Policy
- Fixed Exchange Rates
- Examples of Regimes in Countries (USA, SG, China, HK, Argentina)
How is Monetary Policy utilised and how does it impact on Asset Prices?
Monetary Policy
- Policy Rates (Hike/Cut)
- Quantitative Easing
- Yield Curve Control (What Does Flattening/Steepening of the Yield Curve Mean?
- FX policy
- Capital Controls
- Central Bank Stances
- Events to Take Note
How is Fiscal Policy utilised and how does it impact on Asset Prices?
Fiscal Policy
- Tools of Government
- Budget & Emergency
- Budget (Expenditure vs Revenue)
- Ongoing Policies in the Real World
How do Capital Flows impact Currencies and Investment environments?
-
Capital Flows
- Types of Capital Flow
- Trade Flows
- Investment Flows
- FDI, Bond flows, NIIP
How do Economic Conditions drive Monetary and Fiscal Policies?
-
Economic Conditions
- GDP (Production)
- Employment Situation
- Inflation and Inflation Expectations
- Health of Consumer
- Health of Manufacturing Sector
- Health of Service Sector
How do Financial Conditions drive Monetary and Fiscal Policies?
-
Financial Conditions
- Stock Market (Wealth Effect)
- Credit Market (Short Term Funding, Bonds)
- Exchange Rates – Currency Basis Swaps, Dollar Funding
- Money Supply, Velocity
- Interest Rates Market
- Fed Funds (OIS), T-Bills, T-Bonds,
- OIS, Libor , Eurodollar Strip.
- Corporate Bonds (Various Credit Ratings from AAA to EM Credit)
- Risk Management
- Portfolio Construction & Correlation
How to Invest in a Multipolar world?
Geopolitics
- Geopolitical Climate (Past, Present and Future: Mapping the Similarities and How History almost Repeats Itself)
- Trade Tariffs/War
Not all events are created equal, some matters more at different points in the economic cycle. How to tell which matters more?
Events Calendar
- Central Bank & Government Official Speeches
- Central Bank Meetings (Scheduled & Emergency)
- Meeting Minutes
- PMI Releases
- Unemployment claims
- Non-Farm Employment Change
- Inflation Measures
- Manufacturing & Service Indices
- intergovernmental Organization Meetings
- Parliamentary Elections
Things You Don't Learn in School - What Really Drives Markets?
How to Gauge Market Expectations?
- Survey
- Sentiment
- Market pricing
How to Gauge Market Positions?
- Surveys – CoT etc
- Sentiment
- Market reaction
What to Trade When Markets Move a lot and When It Doesn't Move
- Volatility – What is It?
- How to Trade It?
- How Does Volatility Influence Trading Decisions?
- What is Carry?
- What is the Price of Carry?
IMPORTANCE OF KNOWING ABOUT GLOBAL MACRO
Reacting to economic data ex-post will NOT lead to successful Global Macro Trading- rather, edgeless speculation as most of its impact would have already been priced in by Institutional Market Participants.
Market cycles and history ebbs and flows. Hence, the global macro telescope will allow individuals to identify the potential trajectory of where the world is heading towards and this skill has much farther implications than just trading itself.
Having the know-how to decipher and employ knowledge of the macro world can greatly enrich us, not only monetary-wise but in many other more lasting ways too.
- It allows us to position ourselves and anticipate trajectories that can guide us towards superior life choices, that can positively impact not only us, but for generations to come.
- Learning the skill to uncover the macro environment is not merely a tool for the accumulation of wealth. It is also about survival. To thrive, we must first survive. Therefore, anyone who is serious about protecting your hard-earned wealth and in due time, accumulate that wealth, must take action at once, to confront ignorance and be in the know.
For only then, will we have a chance to make informed and forward-looking life choices – to grow, preserve and prolong the longevity of our wealth and improve living standards for ourselves and for those whom we love.
FREQUENTLY ASKED QUESTIONS
Why is Global Macro Important?
To catch long lasting trends in markets, it is essential to have the skill to connect the dots. From your current vantage point, the onward economic trajectory has many possibilities, Global Macro will equip you with the ability to identify the most dominant trajectory and then ride it.
Who is this suitable for?
This programme is designed for individuals who wish to go beyond the economic textbooks and understand how the global economy really works in the real world and how professional traders trade these global flows. You must already have the basic understanding of trading and ready to level up as a global macro trader.
What will I learn?
You will learn what information professional global macro traders look at and how to distil these information into executable trades.
Please fill in the form below and one of our programme consultants will be in touch within 1 working day.
As part of your registration, you will also receive the following:
- Be trained by our CIO, Mr Phan Vee Leung, personally
- + Immediate Access to repository of premium Podcasts
- + Immediate Access to CIO’s Weekly Reports
- + Immediate Access to Trade Insights and Trade Opportunities
- + 24/7 Traders Chat Forum with mentors’ guidance
- + 6 months FREE Access to TrackRecord Community Membership
- + Products and services worth up to SGD1000!