Playback speed×Share postShare post at current timeShare from 0:000:00/0:00Advanced Topics episodeThe full episode is only available to Advanced Topics subscribersSubscribe to watchCycles Warn of End of Year Pain Trade - Advanced TopicsMichael J. KramerOct 02, 2025∙ Paid21ShareThis post is for subscribers in the Advanced Topics planUpgrade to Advanced TopicsAlready in the Advanced Topics plan? Sign inNavigating The MarketSubscribeAuthorsMichael J. KramerRecent PostsFalling Inflation Expectations and the Risk of Rising Real Rates - Advanced TopicsDec 17, 2025 • Michael J. KramerHistorical Steepeners Signal Equity Market Vulnerability - Advanced TopicsDec 5, 2025 • Michael J. KramerThe Hidden Liquidity Drain Driving Market Volatility - Advanced TopicsNov 21, 2025 • Michael J. KramerTech at an Inflection Point and the Search for the Next Decade’s Leaders - Advanced TopicsNov 14, 2025 • Michael J. KramerMarket Cycles Suggest Rising Rates, Stronger Dollar, and Weaker Stocks Lie Ahead - Advanced TopicsNov 7, 2025 • Michael J. KramerWhy Ending QT Doesn’t Mean QE Is Back - Advanced TopicsOct 28, 2025 • Michael J. KramerFed Faces Tough Call on Whether to End QT Early - Advanced TopicsOct 24, 2025 • Michael J. KramerGamma Collapse and Thinning Liquidity Raise Market Risk - Advanced TopicsOct 17, 2025 • Michael J. Kramer