The Macro Tourist
Wide-angle takes on rates, equities, FX and commodities — written by Kevin Muir, a recovering bank-desk derivatives trader who'd rather show you the plumbing than tell you what to think.
A finance newsletter that reads like a column, not a research report.
Macro & market commentary
Wide-angle takes on what's actually moving rates, equities, FX and commodities — not what the talking heads are repeating today.
A tourist, not a tour guide
Most letters specialise in one asset class. Kevin's a tourist across the whole financial map, which is exactly how the best risk/reward setups get spotted.
Charts you'll actually finish
Some of the concepts are complicated. Kevin's job is to make them not feel that way — every post explains the plumbing in plain English.
Kevin Muir
Long passionate about markets, Kevin grew up in a household where his father was an equity research director. Exposed to market talk for as long as he can remember, his true love was always macro — his first trade was the US dollar index, which promptly went limit-locked against him.
Not deterred, Kevin took a job on the institutional equity desk at a big Canadian bank in the 1990s, then moved into a proprietary group running the equity-derivatives book. He had a ringside seat for the dot-com madness. In 2000, with a young family and zero desire to keep working for a bank, Kevin set off on his own.
Not your father's financial newsletter.
Most subscribers come for the writing. Nobody will say a word if you're really just here for the charts. The MacroTourist exists to prove that finance doesn't have to be boring.
"When it comes to your investment analysis, don't worry about what should be — focus on what will be."
Read every dispatch.
Free readers get the occasional public post. Paid subscribers get the full archive, every dispatch in their inbox, and the right to email Kevin and tell him he's wrong.
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"In the history of financial markets, I am at a loss to name a single country that has imploded from deflation. But I can name a lot that have collapsed due to inflation."
Contact the 'Tourist
Press, podcast invitations, the occasional argument about bond convexity — all welcome.