This week has been a pretty wild one in markets. Some of the most popular trades of recent years — like going long software, crypto, or gold — suddenly collapsed. Of course, there are plenty of things you can point to as the proximate cause of the selloff. AI is now an existential threat to SaaS. Bitcoin has seen some unflattering headlines. The nomination of Kevin Warsh as the next Federal Reserve chair stalled the debasement trade. But the way the market functions has also changed enormously, arguably leading to faster and more violent moves. On this episode, we catch up with Charlie McElligott, cross-asset macro strategist at Nomura, who explains just how much market mechanics have shifted, and talks about the flows and positioning he's seeing right now.

This week has been a pretty wild one in markets. Some of the most popular trades of recent years &mdash; like going long software, crypto, or gold &mdash; suddenly collapsed. Of course, there are plenty of things you can point to as the proximate cause of the selloff. AI is now an existential threat to SaaS. Bitcoin has seen some unflattering headlines. The nomination of Kevin Warsh as the next Federal Reserve chair stalled the debasement trade. But the way the market functions has also changed enormously, arguably leading to faster and more violent moves. On this episode, we catch up with Charlie McElligott, cross-asset macro strategist at Nomura, who explains just how much market mechanics have shifted, and talks about the flows and positioning he's seeing right now.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

Lots More With Charlie McElligott on This Week's SaaSpocalypse

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e6affaa0-5653-4711-883c-b3e90139136c/transcript