Still Trading Macro in U.S. Market, Says Panmure Gordon’s French

The video discusses market concerns about global issues and the Federal Reserve's message, which was perceived as not dovish enough. It examines the use of likelihood functions to predict rate cuts and the muted market reaction to recent Fed communications. The discussion also covers the potential impact of the earnings season on equities and the focus on macro trading. The risk of a hawkish pivot by the Fed and its implications for the equity market are also analyzed.

What was the market's expectation from the Federal Reserve's recent information release?

• A dovish message

• No change in policy

• A hawkish message

• An increase in interest rates

Why does the speaker criticize the use of likelihood functions in predicting rate cuts?

• They are always inaccurate

• They are too complex to understand

• They are not quantifiable

• They are too expensive to produce

What was the market looking for in the Fed's actions that was not evident?

• Signs of a rate hike

• A new monetary policy

• Increased inflation rates

• Pressure from the White House

What was the market's reaction to the President's recent comments about rate cuts and QE4?

• A sharp decline in equities

• A significant market rally

• A muted market reaction

• An increase in bond yields

What is the risk to the equity market if the Fed adopts a hawkish stance?

• A rise in inflation rates

• A potential market rally

• A pullback in the second quarter

• Increased market volatility