[{"_1":2,"_359":-5,"_360":-5},"loaderData",{"_3":4,"_11":12},"root",{"_5":6,"_7":8,"_9":10},"theme",0,"baseURL","https://pocketcasts.com","locale","en","routes/_app.podcast.$podcastSlug.$podcastUuid.$episodeSlug.$episodeUuid",{"_13":14,"_15":16,"_17":18},"podcastUuid","d9634250-0ec0-013d-5d37-0affe788e147","episodeUuid","d4fa84c6-13ae-440a-aa91-0b533e0c35e0","dehydratedState",{"_19":20,"_21":22},"mutations",[],"queries",[23,353],{"_24":25,"_26":27,"_347":348,"_351":352},"dehydratedAt",1773654372804,"state",{"_28":29,"_333":324,"_334":335,"_336":-5,"_337":6,"_338":6,"_339":6,"_340":-5,"_341":-5,"_342":54,"_343":344,"_345":346},"data",{"_30":31,"_32":33,"_34":35,"_36":37,"_38":39,"_40":41,"_42":43,"_44":45,"_46":47,"_48":14,"_49":50,"_51":52,"_53":54,"_55":54,"_56":57,"_325":326,"_327":328,"_329":330,"_331":54,"_332":6},"url","https://rss.com/podcasts/macroandvolatility","title","Macro & Volatility™","slug","macro-volatility","author","Josh Silva and Michael Purves","description","Josh Silva of Passaic Partners and Michael Purves of Tallbacken Capital discuss the world of investing through the lens of cross-asset and derivative frameworks.The information, opinions and views expressed on this podcast are for informational purposes only and are not intended as investment advice. The opinions expressed may not align with Passaic Partners' views or its client strategies. Market forecasts are speculative and should not be the sole basis for investment decisions. Consult your financial and tax advisors before making any investments.","description_html","

Josh Silva of Passaic Partners and Michael Purves of Tallbacken Capital discuss the world of investing through the lens of cross-asset and derivative frameworks.

The information, opinions and views expressed on this podcast are for informational purposes only and are not intended as investment advice. The opinions expressed may not align with Passaic Partners' views or its client strategies. Market forecasts are speculative and should not be the sole basis for investment decisions. Consult your financial and tax advisors before making any investments.

","category","Business\n Investing","audio",true,"show_type","episodic","uuid","fundings",[],"guid","ca11709c-1a6a-5305-bd1c-14ec96c61c2b","is_private",false,"transcript_eligible","episodes",[58,77,86,95,104,113,121,130,139,148,157,166,175,181,190,199,208,217,226,235,244,253,262,271,280,289,298,307,316],{"_48":59,"_32":60,"_34":61,"_30":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":54,"_74":6,"_75":76,"_13":14},"85d03cca-7560-4b73-8899-2552e1ff377a","Macro & Volatility™ #28: How has Operation Epic Fury affected the fear indices?","macro-volatility-28-how-has-operation-epic-fury-affected-the-fear-indices","https://content.rss.com/episodes/275468/2600790/macroandvolatility/2026_03_04_16_50_25_74a4ea7b-1e08-4a4c-80b6-142fafa5b6c4.mp3","file_type","audio/mp3","file_size",20593362,"duration",1287,"published","2026-03-04T16:50:35Z","type","full","has_generated_transcript","season","number",28,{"_48":78,"_32":79,"_34":80,"_30":81,"_63":64,"_65":82,"_67":83,"_69":84,"_71":72,"_73":54,"_74":6,"_75":85,"_13":14},"70787645-1823-4b29-8c60-087e04786f08","Macro & Volatility™ #27: Seismic Activity but No Real Fear","macro-volatility-27-seismic-activity-but-no-real-fear","https://content.rss.com/episodes/275468/2518523/macroandvolatility/2026_02_03_22_33_57_b293262e-bdd1-4c4d-9d6c-5b18565955bc.mp3",19102501,1193,"2026-02-03T22:34:02Z",27,{"_48":87,"_32":88,"_34":89,"_30":90,"_63":64,"_65":91,"_67":92,"_69":93,"_71":72,"_73":54,"_74":6,"_75":94,"_13":14},"e1ef2008-8e3f-4ef7-aa86-85780fba4f6f","Macro & Volatility™ #26: \"Love Vigilantes\" - New Order","macro-volatility-26-love-vigilantes-new-order","https://content.rss.com/episodes/275468/2371682/macroandvolatility/2025_12_05_21_41_11_677f09f8-1a0f-4cca-a73c-1893ba3b22c4.mp3",28185172,1761,"2025-12-05T21:41:21Z",26,{"_48":96,"_32":97,"_34":98,"_30":99,"_63":64,"_65":100,"_67":101,"_69":102,"_71":72,"_73":54,"_74":6,"_75":103,"_13":14},"a6d018ca-8406-4b19-8af9-2fb02dc3ce7f","Macro & Volatility™ #25: Who’s Special in a K-shaped Economy?","macro-volatility-25-whos-special-in-a-k-shaped-economy","https://content.rss.com/episodes/275468/2300157/macroandvolatility/2025_10_31_12_00_31_ec8b93f8-c6a9-4981-ba6e-e34eccee4688.mp3",22688174,1417,"2025-10-31T12:01:51Z",25,{"_48":105,"_32":106,"_34":107,"_30":108,"_63":64,"_65":109,"_67":110,"_69":111,"_71":72,"_73":54,"_74":6,"_75":112,"_13":14},"5e50e03d-020d-4e3c-8e9c-a8a8a6d7f5e5","Macro & Volatility™ #24: Certain things are true... for now!","macro-volatility-24-certain-things-are-true-for-now","https://content.rss.com/episodes/275468/2257616/macroandvolatility/2025_10_06_21_16_46_6c28a12c-9bdb-4ecc-b672-b722a67abe35.mp3",18407854,1150,"2025-10-06T21:17:08Z",24,{"_48":16,"_32":114,"_34":115,"_30":116,"_63":64,"_65":117,"_67":118,"_69":119,"_71":72,"_73":54,"_74":6,"_75":120,"_13":14},"Macro & Volatility™ #23: Bonds are Losing their Diversification Benefits","macro-volatility-23-bonds-are-losing-their-diversification-benefits","https://content.rss.com/episodes/275468/2188931/macroandvolatility/2025_08_28_20_48_26_8028bec4-4d6c-47a4-9090-ff229a0ad2bd.mp3",19107520,1194,"2025-08-28T20:48:39Z",23,{"_48":122,"_32":123,"_34":124,"_30":125,"_63":64,"_65":126,"_67":127,"_69":128,"_71":72,"_73":54,"_74":6,"_75":129,"_13":14},"6e17bafb-a97f-4783-9850-71bde363d6cc","Macro & Volatility™ #22: Tempered Cross-Asset Volatility","macro-volatility-22-tempered-cross-asset-volatility","https://content.rss.com/episodes/275468/2097539/macroandvolatility/2025_07_01_19_57_33_3c573354-1f95-4134-8cd5-fb2e0620affa.mp3",15997470,999,"2025-07-01T19:58:32Z",22,{"_48":131,"_32":132,"_34":133,"_30":134,"_63":64,"_65":135,"_67":136,"_69":137,"_71":72,"_73":54,"_74":6,"_75":138,"_13":14},"ffb12a53-aa5f-4330-9fac-6bc9857e36a5","Macro & Volatility™ #21: Re-shoring, Re-industrialization, De-globalization","macro-volatility-21-re-shoring-re-industrialization-de-globalization","https://content.rss.com/episodes/275468/2050447/macroandvolatility/2025_05_29_20_41_45_2503cc84-943f-4705-83f0-5b38404d2067.mp3",23336416,1458,"2025-05-29T20:41:50Z",21,{"_48":140,"_32":141,"_34":142,"_30":143,"_63":64,"_65":144,"_67":145,"_69":146,"_71":72,"_73":54,"_74":6,"_75":147,"_13":14},"e82fd4ab-0999-4205-ac41-0fb20e74a350","Macro & Volatility™ #20: 4000s without a Recession","macro-volatility-20-4000s-without-a-recession","https://content.rss.com/episodes/275468/2011001/macroandvolatility/2025_05_01_20_13_36_ecd86e17-a042-4672-80dc-24dd0382eab9.mp3",10706107,669,"2025-05-01T20:14:45Z",20,{"_48":149,"_32":150,"_34":151,"_30":152,"_63":64,"_65":153,"_67":154,"_69":155,"_71":72,"_73":54,"_74":6,"_75":156,"_13":14},"80f35a62-3fbd-4093-81c4-ffebc0936a95","Macro & Volatility™ #19: Beyond Liberation Day","macro-volatility-19-beyond-liberation-day","https://content.rss.com/episodes/275468/1961255/macroandvolatility/2025_03_27_22_36_56_e89efe98-d4c6-4646-b949-086661b4effe.mp3",8281944,517,"2025-03-27T22:37:11Z",19,{"_48":158,"_32":159,"_34":160,"_30":161,"_63":64,"_65":162,"_67":163,"_69":164,"_71":72,"_73":54,"_74":6,"_75":165,"_13":14},"eb1ddbf1-ac2e-4dcc-bb29-fdefabc124f5","Macro & Volatility™ #18: Deconstructing the Bond Bid","macro-volatility-18-deconstructing-the-bond-bid","https://content.rss.com/episodes/275468/1914396/macroandvolatility/2025_02_25_21_11_18_824b6180-1e6b-4956-a277-679011e2d0ac.mp3",10764621,672,"2025-02-25T21:13:02Z",18,{"_48":167,"_32":168,"_34":169,"_30":170,"_63":64,"_65":171,"_67":172,"_69":173,"_71":72,"_73":54,"_74":6,"_75":174,"_13":14},"789e71f0-a5b3-4b5b-bd08-cc447b3f4486","Macro & Volatility™ #17: Insight into the Tele-tech Frenzy of the 90s and How it Applies to AI Today","macro-volatility-17-insight-into-the-tele-tech-frenzy-of-the-90s-and-how-it-applies-to-ai-today","https://content.rss.com/episodes/275468/1873027/macroandvolatility/2025_01_30_15_10_28_abd9f7c1-72bb-440f-96bc-f223c1fffa44.mp3",14964275,935,"2025-01-30T15:10:50Z",17,{"_48":176,"_32":177,"_34":178,"_30":179,"_63":64,"_65":171,"_67":172,"_69":180,"_71":72,"_73":54,"_13":14},"99da75db-4e0e-4901-809e-d22e7f5feca1","Macro & Volatility™ #17: Insight into the Tele-tech Frenzy of the 90s & How it Applies Today","macro-volatility-17-insight-into-the-tele-tech-frenzy-of-the-90s-how-it-applies-today","https://content.rss.com/episodes/275468/1871994/macroandvolatility/2025_01_29_20_45_11_c3e2e04a-6e6a-498e-bb17-3f87eabb3f22.mp3","2025-01-29T20:45:33Z",{"_48":182,"_32":183,"_34":184,"_30":185,"_63":64,"_65":186,"_67":187,"_69":188,"_71":72,"_73":54,"_74":6,"_75":189,"_13":14},"015ed318-f667-410c-96dd-77b4f6c8d309","Macro & Volatility™ #16: Trading the “Art of the Deal”","macro-volatility-16-trading-the-art-of-the-deal","https://content.rss.com/episodes/275468/1836741/macroandvolatility/2025_01_07_22_22_58_ffa6c100-2076-4a8b-9c8f-992dec0fd92e.mp3",12099583,756,"2025-01-07T22:24:58Z",16,{"_48":191,"_32":192,"_34":193,"_30":194,"_63":64,"_65":195,"_67":196,"_69":197,"_71":72,"_73":54,"_74":6,"_75":198,"_13":14},"59b4f5de-c52f-484d-b650-1c87f7849bfa","Macro & Volatility™ #15: Bessent’s Job Won’t Be Easy","macro-volatility-15-bessents-job-wont-be-easy","https://content.rss.com/episodes/275468/1771573/macroandvolatility/2024_11_25_22_38_05_e7243a8f-ede4-4bb9-8f66-4fa6da9da844.mp3",5665101,354,"2024-11-25T22:38:29Z",15,{"_48":200,"_32":201,"_34":202,"_30":203,"_63":64,"_65":204,"_67":205,"_69":206,"_71":72,"_73":54,"_74":6,"_75":207,"_13":14},"60e08ab1-7102-4fec-a260-7bfc60811706","Macro & Volatility™ #14: Gold, Post-Election and Beyond","macro-volatility-14-gold-post-election-and-beyond","https://content.rss.com/episodes/275468/1726553/macroandvolatility/2024_10_29_17_53_00_7c9bbf81-a02f-4084-ad26-2f7b47a0925f.mp3",9494861,593,"2024-10-29T17:53:12Z",14,{"_48":209,"_32":210,"_34":211,"_30":212,"_63":64,"_65":213,"_67":214,"_69":215,"_71":72,"_73":54,"_74":6,"_75":216,"_13":14},"729b28ab-b3a1-4d55-97b9-79e2c6c11b3a","Macro & Volatility™ #13: Options Markets are Pointing To ...","macro-volatility-13-options-markets-are-pointing-to","https://content.rss.com/episodes/275468/1684316/macroandvolatility/2024_10_03_17_28_52_7f4896c4-db68-468b-8040-1b6d25b9c5aa.mp3",8204203,512,"2024-10-03T17:29:00Z",13,{"_48":218,"_32":219,"_34":220,"_30":221,"_63":64,"_65":222,"_67":223,"_69":224,"_71":72,"_73":54,"_74":6,"_75":225,"_13":14},"5f319bc4-e4b1-4548-9a8f-69fc0a976c48","Macro & Volatility™ #12: Was the end of 2023 Qualifying for the end of 2024?","macro-volatility-12-was-the-end-of-2023-qualifying-for-the-end-of-2024","https://content.rss.com/episodes/275468/1651303/macroandvolatility/2024_09_10_19_48_14_4edcc53b-2bb6-49c4-b20c-68344cc6a6f0.mp3",7163067,447,"2024-09-10T19:48:24Z",12,{"_48":227,"_32":228,"_34":229,"_30":230,"_63":64,"_65":231,"_67":232,"_69":233,"_71":72,"_73":54,"_74":6,"_75":234,"_13":14},"d2a9dee7-3f7c-4ff3-bfc8-8419bf8a173e","Macro & Volatility™ #11: Even Keanu would have been scared by the SPEED ...","macro-volatility-11-even-keanu-would-have-been-scared-by-the-speed","https://content.rss.com/episodes/275468/1614882/macroandvolatility/2024_08_16_16_59_56_9a5cee26-8c52-4adf-99c3-a9b8adcfc3a1.mp3",11720494,732,"2024-08-16T17:00:10Z",11,{"_48":236,"_32":237,"_34":238,"_30":239,"_63":64,"_65":240,"_67":241,"_69":242,"_71":72,"_73":54,"_74":6,"_75":243,"_13":14},"d67e3f44-fb32-40fe-9ff3-383cc0f9f517","Macro & Volatility™ #10: The Giant Spread Machine","macro-volatility-10-the-giant-spread-machine","https://content.rss.com/episodes/275468/1590807/macroandvolatility/2024_07_30_20_42_39_05a35713-95c4-43dd-9c96-66bd383a3698.mp3",13527750,845,"2024-07-30T20:44:02Z",10,{"_48":245,"_32":246,"_34":247,"_30":248,"_63":64,"_65":249,"_67":250,"_69":251,"_71":72,"_73":54,"_74":6,"_75":252,"_13":14},"38f2966d-d9a0-4180-a5cc-a2be22423880","Macro & Volatility™ #9: The inflation we know; the inflation we don't know","macro-volatility-9-the-inflation-we-know-the-inflation-we-dont-know","https://content.rss.com/episodes/275468/1564811/macroandvolatility/2024_07_11_19_21_35_f4245e4a-718a-49f0-b8d1-52240d456220.mp3",11166280,697,"2024-07-11T19:21:52Z",9,{"_48":254,"_32":255,"_34":256,"_30":257,"_63":64,"_65":258,"_67":259,"_69":260,"_71":72,"_73":54,"_74":6,"_75":261,"_13":14},"38c56cf7-4bea-4bbd-8737-fabc51555e69","Macro & Volatility™ #8: Skew & OATs, which one is \"Out of Touch?\"","macro-volatility-8-skew-oats-which-one-is-out-of-touch","https://content.rss.com/episodes/275468/1539049/macroandvolatility/2024_06_25_20_08_08_61191709-47df-4e78-86fc-7ee248b0b7c6.mp3",9626519,601,"2024-06-25T20:09:53Z",8,{"_48":263,"_32":264,"_34":265,"_30":266,"_63":64,"_65":267,"_67":268,"_69":269,"_71":72,"_73":54,"_74":6,"_75":270,"_13":14},"ce2a1f23-8c70-4459-aef1-df5e2645d771","Macro & Volatility™ #7: Slow Curve Ahead","macro-volatility-7-slow-curve-ahead","https://content.rss.com/episodes/275468/1527539/macroandvolatility/2024_06_16_20_54_02_ea0c250a-737d-4d85-a83c-3218b13c9e6d.mp3",7548837,471,"2024-06-16T20:54:07Z",7,{"_48":272,"_32":273,"_34":274,"_30":275,"_63":64,"_65":276,"_67":277,"_69":278,"_71":72,"_73":54,"_74":6,"_75":279,"_13":14},"13811f00-cf12-4a73-a44a-c1890823b6ea","Macro & Volatility™ #6: Shhhh … a quiet gold rally","macro-volatility-6-shhhh-a-quiet-gold-rally","https://content.rss.com/episodes/275468/1527537/macroandvolatility/2024_06_16_20_51_22_44068211-0622-4765-957d-4fdacc61eacb.mp3",10037436,627,"2024-06-16T20:51:32Z",6,{"_48":281,"_32":282,"_34":283,"_30":284,"_63":64,"_65":285,"_67":286,"_69":287,"_71":72,"_73":54,"_74":6,"_75":288,"_13":14},"9071247e-9de8-42ca-9569-a78c8c3f81e3","Macro & Volatility™ #5: The Fed has created Optionality","macro-volatility-5-the-fed-has-created-optionality","https://content.rss.com/episodes/275468/1527534/macroandvolatility/2024_06_16_20_49_16_fa0bd575-abd7-44db-aa56-7601ffacbf11.mp3",10072127,629,"2024-06-16T20:51:29Z",5,{"_48":290,"_32":291,"_34":292,"_30":293,"_63":64,"_65":294,"_67":295,"_69":296,"_71":72,"_73":54,"_74":6,"_75":297,"_13":14},"3b672691-3062-4f1f-9af3-055cf8d75edf","Macro & Volatility™ #4: Higher Rates, Higher Growth, Higher VIX?","macro-volatility-4-higher-rates-higher-growth-higher-vix","https://content.rss.com/episodes/275468/1527528/macroandvolatility/2024_06_16_20_45_20_1ea97d0b-69b9-40b6-9537-0d5661665657.mp3",9071115,566,"2024-06-16T20:45:28Z",4,{"_48":299,"_32":300,"_34":301,"_30":302,"_63":64,"_65":303,"_67":304,"_69":305,"_71":72,"_73":54,"_74":6,"_75":306,"_13":14},"d3d00813-f2ac-4208-b933-0d545dfd8255","Macro & Volatility™ #3: 4 cuts, 3 cuts, 2 cuts, NONE!","macro-volatility-3-4-cuts-3-cuts-2-cuts-none","https://content.rss.com/episodes/275468/1527519/macroandvolatility/2024_06_16_20_34_58_27b362f8-a882-4f0b-bb70-352b40e1dba8.mp3",9029319,564,"2024-06-16T20:35:16Z",3,{"_48":308,"_32":309,"_34":310,"_30":311,"_63":64,"_65":312,"_67":313,"_69":314,"_71":72,"_73":54,"_74":6,"_75":315,"_13":14},"08c1f6ae-ff7a-4f09-aa4e-a72b12b9ae34","Macro & Volatility™ #2: Dispersion - time to start paying attention","macro-volatility-2-dispersion-time-to-start-paying-attention","https://content.rss.com/episodes/275468/1527517/macroandvolatility/2024_06_16_20_28_35_0f1634b0-e4c5-486a-8b99-22b7ed929ab1.mp3",8118168,507,"2024-06-16T20:28:47Z",2,{"_48":317,"_32":318,"_34":319,"_30":320,"_63":64,"_65":321,"_67":322,"_69":323,"_71":72,"_73":54,"_74":6,"_75":324,"_13":14},"9a1172be-fc04-410b-a0f7-1972bce08486","Macro & Volatility™ #1","macro-volatility-1","https://content.rss.com/episodes/275468/1527394/macroandvolatility/2024_06_16_18_00_52_34e36f78-a01b-484c-9ada-bbfbceab12b9.mp3",10644313,665,"2024-06-16T18:03:16Z",1,"episodeFrequency","Monthly","estimatedNextEpisodeAt","2026-03-30T22:52:47Z","episodeCount",29,"hasSeasons","seasonCount","dataUpdateCount","dataUpdatedAt",1773654372732,"error","errorUpdateCount","errorUpdatedAt","fetchFailureCount","fetchFailureReason","fetchMeta","isInvalidated","status","success","fetchStatus","idle","queryKey",[349,350,14],"podcasts","detail","queryHash","[\"podcasts\",\"detail\",\"d9634250-0ec0-013d-5d37-0affe788e147\"]",{"_24":25,"_26":354,"_347":356,"_351":358},{"_28":355,"_333":324,"_334":25,"_336":-5,"_337":6,"_338":6,"_339":6,"_340":-5,"_341":-5,"_342":54,"_343":344,"_345":346},"

• Surprise — no surprises • Front end is clear • Back end is lost

",[357,350,16],"episodeShowNotes","[\"episodeShowNotes\",\"detail\",\"d4fa84c6-13ae-440a-aa91-0b533e0c35e0\"]","actionData","errors"]

Macro & Volatility™ #23: Bonds are Losing their Diversification Benefits

Episode Description

Never lose your place, on any device