Equity/Index & Cross Asset Volatility Specialist, Cameron Design

Jay Cameron

Equity/Index & Cross Asset Volatility Specialist

Cameron Design

We specialize in financial products and volatility. Our strategies balance speed, data, and risk control to capture opportunities across global markets. Our research leverages AI and data analytics to continuously refine our algorithms and adapt to evolving market dynamics.

Equity Derivatives

<ul>
<li>The bullish outlook for global equities is driven by the macro strength of Developed Markets, including US upside and Eurozone resilience, plus corporate governance reforms.</li>
<li>Central bank divergence, FX risks 2026+ may warrant a look at VIX and gold portfolio hedges.</li>
<li>KOSPI 200 led 2025 gains among our selection of indices, highlighting AI alpha from memory chips as another dimension to the global GPU rally.</li>
</ul>


The bullish outlook for global equities is driven by the macro strength of Developed Markets, including US upside and Eurozone resilience, plus corporate governance reforms.
Central bank divergence, FX risks 2026+ may warrant a look at VIX and gold portfolio hedges.
KOSPI 200 led 2025 gains among our selection of indices, highlighting AI alpha from memory chips as another dimension to the global GPU rally.


Global Markets: US Rates, Korean Alpha, and the AI Diversification Thesis

<ul>
<li>3 global futures and options topics we covered included global equities, Brent, and Gold.  We review the topics discussed and look forward to another interesting month of volatility trades.</li>
<li>NK remains moderately interesting for NK vs MSCI World vol with the leadership change coming up, though deep downside swings would not be expected.</li>
<li>Were bullish on AI stocks, and highlighted a few favorites with some tactical options trades to monetize existing equity longs or put on new hedged volatility positions.</li>
</ul>


3 global futures and options topics we covered included global equities, Brent, and Gold.  We review the topics discussed and look forward to another interesting month of volatility trades.
NK remains moderately interesting for NK vs MSCI World vol with the leadership change coming up, though deep downside swings would not be expected.
Were bullish on AI stocks, and highlighted a few favorites with some tactical options trades to monetize existing equity longs or put on new hedged volatility positions.


A Rundown of the Last Month's Futures and Options, Stock Options Views

<ul>
<li>Global central banks are navigating divergent monetary policies, with the Fed initiating rate cuts while European and Japanese counterparts maintain cautious stances amid varying inflation and growth outlooks.</li>
<li>Significant economic headwinds, including the impact of tariffs and political instability in key regions, are influencing central bank decisions and contributing to a nuanced global economic landscape.</li>
<li>This environment of diverging policies and persistent economic pressures sets the stage for a strategic market opportunity, focusing on volatility dynamics in developed markets.</li>
</ul>


Global central banks are navigating divergent monetary policies, with the Fed initiating rate cuts while European and Japanese counterparts maintain cautious stances amid varying inflation and growth outlooks.
Significant economic headwinds, including the impact of tariffs and political instability in key regions, are influencing central bank decisions and contributing to a nuanced global economic landscape.
This environment of diverging policies and persistent economic pressures sets the stage for a strategic market opportunity, focusing on volatility dynamics in developed markets.


Global Monetary Tides Turn: Fed Cuts, Europe Holds, Japan's Stance and Market Impacts Explored

Cross-Asset Liquidity Strategist, CrossBorder Capital

Michael J. Howell

Cross-Asset Liquidity Strategist

Implementing Research Using Alt Data & AI

CrossBorder Capital

CrossBorder Capital is a London-based independent investment advisory firm. Founded in 1996, it exploits a gap in the investment arena by focusing on Central bank liquidity. 

It specialises in the monitoring and analysis of global liquidity flows - an important determinant of asset prices, from currencies through to bonds, equities and real estate.

CrossBorder Capital implements its investment strategy and currently manages over US$ 350m.


Cross Asset Strategy

<ul>
<li>
 QT is effectively dead. We have believed this since the US gilt crisis in 2022, but the SVB issue now confirms it. Game over. QE is back
</li>
<li>2023 will still be volatile. The major markets will range trade, but unlike 2022, investors will enjoy large absolute gains in areas like commodities, EM and cyclicals</li>
<li>Other Central Banks will follow the US Fed. The US Fed is de facto following a bifurcated monetary policy: high rates for inflation and the Fed B/S for financial stability 
</li>
</ul>



 QT is effectively dead. We have believed this since the US gilt crisis in 2022, but the SVB issue now confirms it. Game over. QE is back

2023 will still be volatile. The major markets will range trade, but unlike 2022, investors will enjoy large absolute gains in areas like commodities, EM and cyclicals
Other Central Banks will follow the US Fed. The US Fed is de facto following a bifurcated monetary policy: high rates for inflation and the Fed B/S for financial stability 



The Fed & Global Liquidity After SVB: Climate Change!

<ul>
<li>
Global Liquidity Cycle hit a low in September 2022. It has been rising slowly since and looks set to hit a peak around 2026. Risk assets should get greater support</li>
<li>Yet the large 'carry' on government bonds and the recent sell-off persuades us to allocate towards fixed income for the first time in two years</li>
<li>There are risks. With coupon issuance is set to soar, Central Banks will be increasingly asked to finance monetary inflation
</li>
</ul>



Global Liquidity Cycle hit a low in September 2022. It has been rising slowly since and looks set to hit a peak around 2026. Risk assets should get greater support
Yet the large 'carry' on government bonds and the recent sell-off persuades us to allocate towards fixed income for the first time in two years
There are risks. With coupon issuance is set to soar, Central Banks will be increasingly asked to finance monetary inflation



United States

The MSCI World Index is a free-float weighted equity index. It was developed with a base value of 100 as of December 31, 1969. MXWO includes developed world markets, and does not include emerging markets. MXWD includes both emerging and developed markets.

MSCI World Index (MXWO INDEX)

Global Markets: US Rates, Korean Alpha, and the AI Diversification Thesis

Equities bullish due to strong Developed Markets, corporate governance reforms, and GPU upside in Asia and US/AI Memory alpha in Korea. CB...

Jay Cameron

A Rundown of the Last Month's Futures and Options, Stock Options Views

Global futures and options topics covered include global equities, Brent, and Gold, with a focus on volatility trades and unchanged views on Gold...

Jay Cameron

Global Monetary Tides Turn: Fed Cuts, Europe Holds, Japan's Stance and Market Impacts Explored

Updates on this Fed: US GDP in 2H adjusted to 3.8% from 3.3% reflecting stronger consumer confidence and reflecting that imports are lower as...

Jay Cameron

The Fed & Global Liquidity After SVB: Climate Change!

Global Liquidity has bottomed and is likely to rise through 2023. Silicon Valley Bank makes this more certain. QT is effectively dead: QE is back

Michael J. Howell

Global Liquidity: Looking Towards 2024

The upbeat narrative continues. Worth re-exploring why Global Liquidity, which has been the main driver of markets in recent years, is set to...

Michael J. Howell

Global Markets: US Rates, Korean Alpha, and the AI Diversification Thesis

Equities bullish due to strong Developed Markets, corporate governance reforms, and GPU upside in Asia and US/AI Memory alpha in Korea. CB...

Jay Cameron

A Rundown of the Last Month's Futures and Options, Stock Options Views

​Global futures and options topics covered include global equities, Brent, and Gold, with a focus on volatility trades and unchanged views on Gold...

Jay Cameron

Global Monetary Tides Turn: Fed Cuts, Europe Holds, Japan's Stance and Market Impacts Explored

Updates on this Fed: US GDP in 2H adjusted to 3.8% from 3.3% reflecting stronger consumer confidence and reflecting that imports are lower as...

Jay Cameron

The Fed & Global Liquidity After SVB: Climate Change!

Global Liquidity has bottomed and is likely to rise through 2023. Silicon Valley Bank makes this more certain. QT is effectively dead: QE is back

Michael J. Howell

Global Liquidity: Looking Towards 2024

The upbeat narrative continues. Worth re-exploring why Global Liquidity, which has been the main driver of markets in recent years, is set to...

Michael J. Howell

Global futures and options topics covered include global equities, Brent, and Gold, with a focus on volatility trades and unchanged views on Gold...