In this business, we are often inundated by countless news headlines telling us all about what’s happening…now. It’s a never-ending process that invites market participants to spend time and energy dissecting how new information affects the investment landscape. For a macro investor though, every now and then taking a step back is crucial: with a 30,000-foot view, the macro big picture becomes increasingly clear. Hence, in this article we will: Assess the structural trends underpinning our economic and monetary system, and how the 2020-2021 tectonic shifts interplayed with them; Present our conclusions and discuss ... (full story)