On today's episode of The Macro Trading Floor, Andreas and Alfonso welcome John Normand Cross-Asset Strategist, JPM alum for a global macro tour of the world. John walks through the most anticipated recession in history by looking at the current market pricing in FX, rates and credit. Has the forecasted slowdown in 2023 really started to rear its head under the headlines in financial media? John then goes on to discuss the Chinese reopening and what implications the second largest economy coming back online will have for the rest of the global economy as inflation continues on it's current downtrend. Finally, John shares his actionable trade idea, but to hear that, you'll have to tune in! -- Follow John: https://www.linkedin.com/in/john-normand-4b902b55/ Follow Andreas: https://twitter.com/AndreasSteno Follow Alf: https://twitter.com/MacroAlf Follow Blockworks: https://twitter.com/Blockworks_ Subscribe To The Macro Compass: https://www.themacrocompass.com/ Subscribe To Steno Research: https://stenoresearch.com/ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- WisdomTree is a global ETF and ETP sponsor and asset manager founded in 2006 and with a track record of innovation and creating better ways to invest. Today, we offer a broad range of differentiated ETFs and ETPs across equities, thematics, commodities, fixed income, currencies, short and leveraged, and cryptocurrencies with over $80 billion in assets under management. For more information, please visit https://bit.ly/3VXYPkx -- This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/blockworks_mac..., you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply. -- Timestamps: (00:00) Introduction (00:55) What Is Happening With The BoJ? (05:55) The ECB Is Going Against The Tide (09:23) What Is The Trade? (12:15) Feature Interview With John Normand (18:41) Curve Ad (20:08) A 2023 Global Macro Outlook (24:00) The Most Anticipated Recession In History (30:31) Structural Shifts In The Economy (34:29) Wisdom Tree Ad (35:03) Asset Allocation In 2023 (38:13) John's Actionable Trade Idea (40:55) Post Interview: Final Thoughts (45:28) Preparing For A Global Slowdown -- Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.