Adored on social media channels by finance nerds and admired by Wall Street professionals, for many traders and fund managers, interest rate strategist Zoltan Pozsar's astute analyses are required reading.
Credit Suisse has lost a rock star of the financial world in widely respected analyst Zoltan Pozsar, whose musings were the subject of much discussion inside and outside the financial world, left the institution in recent months, according to a «Wall Street Journal» report, citing a person familiar with the matter.
With Pozsar's work closely tied to the problems that led to the banking turmoil in the US this year, many market observers wondered why the interest rate strategist had barely spoken recently. His silence also sparked speculation on social media about his status.
New Destination Unknown
On Friday, Pozsar appeared at a Federal Reserve Bank of New York conference, wearing a «TBD» name tag regarding his professional affiliation. Neither Pozsar nor Credit Suisse commented on the departure.
Instead, he expounded on the recent steps taken by the US Federal Reserve, which has taken extreme measures to contain the turmoil at regional banks so it can focus on inflation, he revealed. In his view, interest rates around the world will rise more than many traders expect.
The Hungarian-born strategist enjoys cult status among the financial market cognoscenti, his reputation growing after accurately predicting the market turmoil of 2019. Pozsar is known for his prosaic, eloquent, and astute financial and market analyses.
Revered by Insiders and Nerds Alike
Because of these qualities, he has been referred to as an HG Wells or Jules Verne, outlining in his writings what the future of global finance might look like. He was not always right with his analyses, with critics occasionally accusing him of «financial fiction». Nevertheless, his influence and impact on the financial world are undisputed.
For many traders, fund professionals, and portfolio managers, his texts are required reading. The Hungarian is highly regarded among financial nerds, with his first name circulating on Twitter under the handle #Zoltan. Wall Street insiders and Reddit users alike dissect his texts and share digital copies of his work «trading digital copies like music fans swapping bootlegs», the WSJ notes.
Pozsar moved to the US in 2002, working for the Federal Reserve Bank of New York and the US Treasury Department, among others. In 2015, he joined Credit Suisse as Global Head of Short-Term Interest Rate Strategy.