The Market Huddle

Leonid Mironov, portfolio manager at GavCal Capital focused on China, commodities and macro themes. He explains why China’s producer-price deflation may be reversing and how anti-involution policies are changing pricing and corporate behavior. He contrasts China’s ROI-driven AI approach with AGI hype and discusses oil, metals and supply risks in a shifting global market.

Bohan Jiang, a senior derivatives trader at FalconX with prior FX options experience at Goldman Sachs. He digs into institutional options market making, how brokers drive FX price discovery, and why crypto options can be inefficient. He discusses delta hedging, zero-DTE risks, skew and risk-reversal trades, and when to use options versus delta-one strategies.

Louis-Vincent Gave, founder of Gavekal and veteran macro investor, flips the script and puts Kevin under the microscope. They tackle contrarian thinking, central banks shifting into gold, fiscal policy reshaping capital flows, and why long-duration plays and private credit matter now. Quick, provocative, and packed with market color.

Sam Rines, macro strategist at WisdomTree who studies geopolitics and narrative volatility. He discusses the Iran war and why it may be closer to winding down than markets expect. He explores implications for oil and gold, shifting defense technologies, and why Japan and select international markets look compelling. He also covers central bank reactions and where investors might redeploy capital.

Brian McCarthy, managing principal of MacroLens and macro strategist specializing in fixed income, rates and FX. He discusses market reactions to the Middle East conflict and why hiking into a supply shock is dangerous. He questions the sustainability of China optimism and flags cheap two-year dollar‑CNH calls as insurance. He also outlines risks from credit stress, energy shocks and breadth deterioration in equity markets.

Fergus Cullen (Trader Ferg), an independent investor known for contrarian commodity and resource calls, shares his take on rhodium, platinum and miner reratings. He discusses oil’s missing barrels, drillship and oil‑services upside, and China’s industrial scaling. He also covers inflation vs dollar dynamics, emerging‑market exchange ideas, and tail‑risk hedging concerns.

Brent Donnelly, President of Spectrum Markets and FX specialist who runs AMFX/Friday Speed Run, talks FX interventions, yen stabilization tools, and how central banks can cap moves. He flags fragile equity internals, speculative stock risks, and tax-refund flow effects. Conversations cover crypto maturation, bank/credit structure concerns, and pragmatic risk management advice.

Craig Shapiro, macro strategist and former hedge fund/commodity equities portfolio manager, shares market color and trading stories from Osprey and SAC. He talks liquidity lessons from 2008, precious metals’ parabolic moves, oil’s role as a volatility catalyst, dollar dynamics and geopolitics, and where rotations into commodities, Japan, and EM may be unfolding.

Alex Gurevich, a PhD mathematician, former JP Morgan MD and author, revisits his trading playbook. He discusses decade-scale precious metals cycles, why platinum and palladium may rotate, and the mystery of metals drivers. He explains preferring positive carry and trend-based bond bets, why he leaned long bonds, and his case for rates moving toward 0%.

Mateen Chaudhry, author of the Discuss the Tape financial newsletter, shares his insights on upcoming market opportunities in Japan and China. He details why he’s bullish on resources and how China’s strategic stockpiling enhances its geopolitical influence. Mateen predicts Japan will leverage dividend increases and buybacks while revitalizing its defense sector amidst rising tensions with China. His surprising take? Hong Kong could emerge as Asia's tech hub again, reminiscent of the Nasdaq. A must-listen for market enthusiasts!