War is Real. Markets Aren’t.
One of the world’s most important energy routes is closed, yet markets are rallying. Toby Hayes discusses why markets aren’t reflecting the realities of war, and how narrative control and financial engineering are combining to produce unrivalled mispricings.
The Big Wave
Markets have been waiting for the ‘big wave’ since 2008, and this time it may be real. As a historic supply-side shock collides with geopolitical conflict and investor complacency, Anton Tonev explores what this means for capital flows, energy, and global markets.
A Turning Tide for the South Korean Won
South Korea may be on the verge of a major shift. Anton Tonev explores how policy actions, structural flow catalysts, and investor behaviour changes are aligning to create a potentially powerful tailwind for KRW appreciation.
Hedgeweek Global Outlook 2026: Shenan Dhanani on Multi-Strategy Investing and Talent Trends
Shenan Dhanani recently contributed to the Hedgeweek® MSCI Global Outlook Report 2026, sharing his views on the evolution of multi-strategy investing and the ongoing competition for investment talent. In the report, Shenan discusses the continued growth of institutional demand for uncorrelated returns and highlights the increasing adoption of separately managed account structures, driven by investors […]
The JGB Confidence Game: Why Sovereignty Still Rules
Japan’s bond market is sending an important signal. With long-term yields rising and the yen under pressure, Anton Tonev explores how quickly confidence can shift – and what policy choices might turn the tide.
Bloomberg: Tom Roderick on Gold’s Outlook Following a Record Year
Tom Roderick recently featured in Bloomberg, sharing his views on the outlook for gold following the precious metal’s strongest annual performance in decades. The article examines why many investors remain constructive on gold despite its record rally in 2025, with continued central bank purchases, fiscal concerns and geopolitical developments cited as key drivers of demand. […]
The Dot Comm Boom!
While the COVID crisis is over and the Russian war is now static, Tom Roderick explores how the upending of the geopolitical order continues to drive up prices of (certain) commodities.
The Wall Street Journal: Tom Roderick on the Outlook for US Treasury Yields
Tom Roderick recently featured in The Wall Street Journal, sharing his views on the outlook for US government bond markets and Treasury yields. The article examines the factors influencing US Treasury markets, including monetary policy expectations, government borrowing requirements and evolving economic data. Against this backdrop, Tom discusses the balance between fiscal and monetary forces […]
Keep calm and buy vol
Short-dated volatility is soaring while long-dated vol remains unusually cheap, creating unique opportunities for traders and hedgers. Toby Hayes explores how structural market shifts are reshaping the landscape.
AFI: Tom Roderick on the Macro Opportunity
Tom Roderick recently joined the Alternative Fund Insight podcast to discuss the current opportunity set for global macro investors and the factors driving markets today. Ep 49 – Trium Capital’s Tom Roderick on the macro opportunity During the conversation, Tom reflects on his career in macro investing, the structure of his UCITS strategy and why […]
