Big Bets on the Future
In our webinar in March, we explored some of the possible macroeconomic scenarios given a more grounded understanding of past circumstances leading up to this year. Since then, the events of April have left a lasting impression. Where certain markets like stocks are treating them as a one-off overreaction to tariffs, the swap market has made a huge move. This isn’t the “recession question” answer; it’s much bigger and more profound and the post-April response is a huge clue.
