Founder, Market Thinker

Mark Tinker

Mark Tinker has over 35 years experience as an investor, market strategist and economist. Having spent more than 20 years as a sell side strategist and being top rated on numerous occasions and surveys he moved to investment management in 2006 to run global equity portfolios in London and subsequently moved to Hong Kong in 2013 to help establish an Investment Management business for a top 20 international asset manager. He first started writing investment weeklies for his employers in 1989, developing a style characterised under the title Market Thinking and has been a regular commentator and presenter on CNBC, Bloomberg and other business channels, where his approach of rationalising market behaviour rather than making short term predictions on high frequency market data provides a welcome balance to his client audience.

Founder

Market Thinker

Making Sense of the Narrative

Macroeconomics

<ul><li>After a blow out year in 2022, the CTA macro funds are being careful how they place their chips for 2023 and while some are trying to push equities and bonds lower, continuing last year’s winning trades, more focus is currently on their more traditional ‘noise markets’ of FX and Commodities, where if anything most of the trades being put on are now the opposite of last year!</li><li>However, this is evidently harder work than last year, when it was ‘easy’ to create forced buyers and distressed sellers.</li><li>Thus, after being long energy in 2022, with early commentary emphasis on a big slowdown in GDP, the traders tried to flip and push Oil lower from the top of its trading band (around $85 on Brent).</li></ul>

After a blow out year in 2022, the CTA macro funds are being careful how they place their chips for 2023 and while some are trying to push equities and bonds lower, continuing last year’s winning trades, more focus is currently on their more traditional ‘noise markets’ of FX and Commodities, where if anything most of the trades being put on are now the opposite of last year!However, this is evidently harder work than last year, when it was ‘easy’ to create forced buyers and distressed sellers.Thus, after being long energy in 2022, with early commentary emphasis on a big slowdown in GDP, the traders tried to flip and push Oil lower from the top of its trading band (around $85 on Brent).

Putting (some) chips back on the table