The Quiet Talent War for Rates & Macro Specialists
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For more than a decade, the world operated under ultra-low interest rates, stable central-bank policy and relatively muted macro volatility. That period is now over. Today’s hedge funds are operating in a regime defined by higher rates, record debt levels and structurally elevated macro uncertainty. For investment professionals, this shift represents one of the most compelling opportunity-sets in a generation.
The global fixed-income market is projected at USD 153.4 trillion in 2025, up from about USD 145 trillion in 2024. Meanwhile, average daily turnover in FX markets reached USD 9.6 trillion in April 2025, up 28% from the USD 7.5 trillion recorded in the 2022 survey. Trading of over-the-counter interest-rate derivatives surged to USD 7.9 trillion per day in April 2025, up 59% from 2022. These figures underscore that macro is no longer a niche, it is the backbone of global capital markets.
Institutional allocators are taking note. While exact asset numbers for macro strategies in 2025 are not yet fully published, the clear uptick in volumes and turnover reflects rising demand for macro-capable portfolio managers. For candidates with distinctive macro skillsets, this signals strong tailwinds.
Some of the most highly sought roles in global hedge funds are
For a talented macro thinker, this is a moment of genuine alpha opportunity. Volatility is elevated, dispersion is strong, and allocators are leaning in. Hedge funds are aggressively building macro benches, meaning there has rarely been a better time to step into one of these specialist roles.
Ref: Bank for International Settlements. (2025a). OTC derivatives statistics at end-April 2025., Bank for International Settlements. (2025b). Triennial Central Bank Survey: Global foreign exchange market turnover in April 2025.,Mordor Intelligence. (2025). Fixed income market – size, trends, and forecast (2025).