Bits + Bips: Why ‘All Assets Will Go Up’ in the Near Future - Ep. 716
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I've talked to a number of, like, you know, large hedge fund managers and PMs, portfolio managers, and they're like, real money, meaning, like, pension funds, institutions. Like, they're gonna just plow a ton of money into the markets right after the election is over. Because no matter who wins, the view is is that the market's going higher.
Hi, everyone. Welcome to Bits and Bips, exploring how crypto and macro collide one basis point at a time. I'm your host, James Safer, tradfi archmaester, lord of Bloomberg's end. Here with Joe McCann, lord commander of asymmetric and master of bomb, alongside Alex Kruger, Kruger macro of house Asgard, protector of the realm. We're here to discuss the latest stories in the words of crypto and macro news. Just remember that nothing we say here is investment advice. Please check unchainedcrypto.com/bitsandbits for more disclosures. Also joining us today is Nikos Kargadoris, lord of war, seager of
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we get into this, Nikos, why don't you, give a little background about who you are and what you do, and and then we'll jump into it.
Yes. With pleasure. Thanks for having me on the on the podcast. So I have about 20 years and change of TradeFi experience. I've worked at various large banks and hedge funds throughout my career, mainly in the trading or portfolio management capacity. My background is in credit and volatility. And for about the past decade or so, my focus has been on cross asset, thematic, macro strategies. Over the last 5 years, I've been running an investment office that manages its proprietary capital across a couple of those strategies.
Awesome. Perfect for our our macro and DeFi overlap type of show. All right, let's first things first, we're gonna get into to China here. I mean, China stocks are absolutely ripping. Our last episode, we talked about the Chinese easing, if you will. And I'm gonna give a shout out to Joe here. Because when we recorded that show, Joe said he thought China was gonna come out with an easing bazooka. And I think it was literally the next day that China came out and basically shot a bazooka into the Chinese economy. So I'll let Joe intro, like, what's going on here, and then and then we can get int
Yeah. Thanks, James. I mean, first, from my perspective, it isn't quite a bazooka yet. I think that that is actually what is most important as we sit here today. So, yes, they did come out with a number of policies that they enacted around, you know, cutting the reverse repo rate. The, you know, mortgages were dropped 50 bps across the board. They literally gave Chinese banks, you know, half a 1000000000 US, 400,000,000,000 US, something like that, to just literally buy stocks. And sure enough, you know, the indices have ripped higher. I think the the Chinese 50 index is up, like, 50%. If you
be tracking is the expansion of m one money supply. Just to throw some numbers on there because we we threw a bunch out there, but I will say FXI, which Joe mentioned, I it this don't come at me for saying this, but it kind of feels like the S and P 500. It's like a diversified exposure to large cap stocks in China. That thing is up 44% since September 10th. Then if you look at Kweb, which is a Trane
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