BSM Capital Flows Macro Watchlist — Operating Manual
This is the full operating manual for the 17-section macro watchlist we use every morning to read capital flows across global markets.
The watchlist is not a trading system. It is a reading framework. Every morning, you scan the same instruments in the same order, asking the same questions. Over time, the pattern recognition becomes automatic. You stop reacting to price and start reading what capital is doing.
The manual covers 17 asset class sections:
• Indices Futures — where capital is allocating geographically and what type of equity risk is being taken
• Energy — distinguishing real demand inflation from risk premium
• Bonds Futures — safety demand vs. inflation repricing vs. curve dynamics
• Yields — policy expectations, growth, and term premium across the curve
• Softs — the texture of food and agricultural inflation
• Metals — industrial growth demand vs. monetary hedge demand
• Meat — food inflation persistence at the consumer level
• Grains — the base layer of the food supply chain and biofuel linkage
• FX Futures — currency flows, risk appetite, carry, and commodity demand
• Mag 7 — concentration risk, leadership rotation, and who carries the tape
• Sectors — what kind of economy is being priced through sector rotation
• Factor ETFs — what type of equity risk is being paid for
• Thematic ETFs — where speculative and strategic capital is being deployed
• Mortgage Rates — real economy financing friction and rate transmission
• Volatility — where insurance is being bought and on what
• Breadth — is participation broad or concentrated
• Skew and Correlation — is tail risk building beneath the surface
For every section, you get the core question it answers, the framework for reading the instruments, and a profile for every individual ticker with what it measures, why it’s there, and how to interpret it rising or falling.
Capital flows tell the story. The watchlist reads the story. Your framework trades the story.
Download it. Read it alongside your charts every morning. It’s yours.
— 34 Macro