Concept guide · Strategy & Research
Market Regimes & Cross-Asset Confirmation
Test whether equities, rates, currencies, credit and commodities support the same macro thesis.
What is a market regime
A regime is an interpretive description of prevailing growth, inflation, liquidity, risk and positioning conditions; it is not a single directly observed statistic.
How to test it
Compare contemporaneous evidence across asset classes, state the assumptions and specify what would disprove the interpretation.
Avoiding confirmation bias
A single-day market move or a two-asset correlation is insufficient to establish causality. Alternative explanations must remain visible.