It’s an all Profit & Loss affair for this week’s podcast as Colin Lambert is joined by P&L’s editor-in-chief Julie Ros to run through a long agenda in these “interesting” times.
This being the podcast Lambert can’t resist a little cynicism to kick off as he “praises” some market analysts’ abilities, but Ros easily pulls the conversation back into line as they discuss the various views proffered by analysts over whether or not the market has priced in the worst case scenario. Lambert believes we are approaching the time when analysts need to switch away from the very vanilla “risk on-risk off” approach and start looking at who and where will come out of the pandemic in better shape than others. Listeners will be unsurprised to hear he has an opinion on that as well…
The discussion then turns to market structure with a quick chat about events in the gold market this week where we saw a severe dislocation, before Lambert asks Ros, “Whatever happened to the idea that crypto was a hedge against events like this?”
The conversation then moves firmly into events in the FX space as our podcasters take a look at liquidity conditions, those LPs that stood up (and those than didn’t), algo providers (including a pop quiz for Ros) and look ahead to what Lambert fears could be a serious problem – the quarter end WM 4pm London Fix on Tuesday.