📂 Senior Macro Strategist Series

Goldilocks, Reflation, Stagflation, Deflation. A senior macro strategist's framework for classifying the growth-and-inflation regime you are actually in — and why the regime, not the forecast, should drive cross-asset positioning.

The 10Y-2Y spread, real rates, and the direction of Fed policy define which of four macro regimes you are allocating into. Here is the framework for positioning across asset classes by regime instead of by headline.