NEW YORK ( TheStreet) -- Global macro trading isn't just a fancy name to impress your friends -- it's the search for trading profits in indices versus individual securities.
While there are infinite variations on the classic approach, the primary reason for trading "macro" is finding non-correlating assets. Yes, all assets are correlated to some extent -- you expect me to believe Treasuries don't have anything to do with the price of tea in China? However, correlations break down, enabling traders to take advantage of multiple markets while staying diversified most of the time.
Until recently, the grain markets were strictly for those in the pits of the CBOT or traders from the Midwest. Electronic trading and low correlation to equity and debt opened the market. Add tradable ETNs -- exchange traded notes -- and we're ready to rumble.
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