Macro Strategy Insights

Academy’s Macro Strategy department is led by Peter Tchir and is designed to help companies and investors navigate markets and the economy by creating content that analyzes developments in a provocative way.

Our coverage focuses on fixed income and credit markets and harnesses Peter’s experience as a trader and portfolio manager.  Academy’s Macro Strategy content challenges existing consensus views and incorporates ESG and Geopolitical analysis in a way that helps clarify how world events affect the unique individual objectives of our clients and partners.

Peter Tchir has been advising asset managers and corporations since 2009. He has traded and structured a wide variety of fixed income products, including synthetic CDO’s, high yield bonds, aircraft leases, indices, and fixed income ETFs. That experience helps provide unique insights into the markets via the “T-Report” and frequent appearances on various financial markets networks.

Recent Pieces


My Favorite Oil Chart

September 30, 2023

Now We Fear the Fed?

September 24, 2023

TIC & Merc

September 19, 2023

The Real Story is Real Yields

September 13, 2023

The G18

September 10, 2023

The X Report

September 1, 2023


July 24, 2023

What a Weird Week

July 3, 2023

Ride of the Valkyries

June 25, 2023

A Quirky Report

June 11, 2023


May 14, 2023

The Debt Shilling

May 11, 2023

Life in a Video Game

May 7, 2023

One and Donish

May 3, 2023

Smooth Sailing Ahead?

April 30, 2023

Peanuts and Lula

April 16, 2023

Davy Jones and the Six

April 9, 2023

Slowing, Slowing, Gone?

April 5, 2023

Fortune Favored the Bold

April 2, 2023

Moving Beyond Banks

March 29, 2023

Quick Rundown

March 20, 2023

Gasp, Gulp, Glug!

March 18, 2023


March 5, 2023

Surprise, Surprise!

February 26, 2023

World War v3.1

February 20, 2023

999 Luftballons

February 12, 2023

Ahead of the Fed - Ugh!

January 29, 2023

For the Record

January 15, 2023

8 Seconds

January 12, 2023

2023 Outlook - PAIN

January 1, 2023










Important Disclosures

Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. We have relied upon and assumed without independent verification, the accuracy and completeness of all information available from public sources.

Views and opinions expressed are for informational purposes only and do not constitute a recommendation by Academy Securities to buy, sell, or hold any security. Views and opinions are current as of the date of this presentation and may be subject to change, they should not be construed as investment advice.

This information discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice. This material has been prepared by Academy Securities and is not financial research nor a product of Academy Securities. It was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. The views and opinions expressed may differ from those of Academy Securities. Investors are urged to consult with their financial advisors before buying or selling any securities. This information may not be current and Academy Securities has no obligation to provide any updates or changes.

Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. These forecasts do not take into account the specific investment objectives, restrictions, tax and financial situation or other needs of any specific client. Actual data will vary and may not be reflected here. These forecasts are subject to high levels of uncertainty that may affect actual performance. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. These forecasts are estimated, based on assumptions, and are subject to significant revision and may change materially as economic and market conditions change. Academy Securities has no obligation to provide updates or changes to these forecasts. Case studies and examples are for illustrative purposes only.

Index Benchmarks

Indices are unmanaged. The figures for the index reflect the reinvestment of all income or dividends, as applicable, but do not reflect the deduction of any fees or expenses which would reduce returns. Investors cannot invest directly in indices.

The indices referenced herein have been selected because they are well known, easily recognized by investors, and reflect those indices that the Investment Manager believes, in part based on industry practice, provide a suitable benchmark against which to evaluate the investment or broader market described herein. The exclusion of “failed” or closed hedge funds may mean that each index overstates the performance of hedge funds generally.