About this episode

Brent Donnelly discusses the complexities of the current market environment and shares insights on trading strategies amidst volatility and policy shocks.

Brent Donnelly returns to Excess Returns to break down one of the most confusing market environments in years, where policy shocks, volatility, and positioning matter more than traditional fundamentals. He explains why markets can keep rising despite constant bad news, how traders should think about regime shifts, and what actually drives moves across equities, bonds, FX, and gold today. Brent also shares practical insights from his trading process, including risk management, journaling, and how to think about positioning and asymmetric opportunities. The conversation spans macro frameworks, behavioral pitfalls, and the evolving nature of market edges, offering a detailed look at how a professional trader navigates uncertainty. Spectra Markets https://www.spectramarkets.com Topics covered: Why stocks need a steady stream of bad news to go down and what drives rallies The impact of constant policy shocks on volatility, positioning, and mean reversion How to distinguish structural trends from short-term trading opportunities The “wall of worry” and why markets can ignore negative headlines The importance of Mag 7 earnings and concentration in today’s market How traders use…

People in this episode

Host: Excess Returns

Guest: Brent Donnelly

Topics covered

• market resilience
• policy shocks
• trading strategies
• risk management
• behavioral finance
• central bank reactions

Mentioned in this episode

Organizations: Spectra Markets

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