Andy Constan: Higher For Longer, Short Twoos & Spoos

Today, we’re joined by Andy Constan. Andy is the Founder & CIO of Damped Spring Advisors, a macroeconomic research firm specializing in Hedge Fund consulting. Andy brings a great deal of experience to the table, having worked at some of the biggest macroeconomic hedge funds- including Bridgewater & Brevan Howard.

Find the show notes below:

  • Part 1 (0:00-39:00): Etymology of ‘Higher for Longer’, Three D’s, Monetary and Fiscal Policy 2.0, Requirements for ending Inflation and Cutting Demand, The Acts for a Pivot 
  • Part 2 (39:00-53:00): Curve Dynamics, Nuances of the ‘Recession Trade’, The Wealth Effect, Impact of Tightening and Issuance of Long Duration on Inflation, New State of ‘De-globalization’
  • Part 3 (53:00-1:32:00): ‘Short Twos & Spoos’ Trade Framework, P/E Decomposition, Drivers of Equity & Fixed Income Performance, Monetary Policy Pricing in Asset Markets, Macro-Factor Decomposition

Follow both @prometheusmacro & @dampedspring on Twitter for more.

If you enjoyed this episode, make sure to let us know in the comments below. Finally, if you haven’t already, don’t forget to subscribe!

19 thoughts on “Andy Constan: Higher For Longer, Short Twoos & Spoos”

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  2. A examine concludes that KPV was able to prevent carcinogenesis because of colitis in wild-type mice (7).
    Its antimicrobial properties had been demonstrated by way of the inhibition of Staphylococcus Aureus colony formation over a broad vary of concentrations (5).
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    At Sports Activities Expertise Labs, we provide the highest-quality KPV peptide on the market online.
    Our peptides are tested for purity and formulated for analysis use only.

    Whether you’re addressing post-infectious gut signs,
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    is a peptide price exploring. KPV acts by way of PepT1 expressed in immune and intestinal
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    in addition to our stress ranges and sleep hygiene. An unhealthy gut can exhibit signs such
    as nausea, vomiting, stomach pain, distention, constipation,
    diarrhea, or diseases similar to ulcers, Irritable Bowel Syndrome (IBS),
    Crohn’s Disease, and Ulcerative Colitis.
    However, “if we’re to gain the dietary advantages from food, they’re to be correctly absorbed, digested and eliminated” (Murray & Pizzorno,
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    Limitless offers a wide selection of USA-made peptides for sale on-line for scientific research
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    Wound healing and scar formation have been assessed on days 3, 7, forty, and 60 post-incision.
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    Research has proven a powerful killing impact on both Staphylococcus aureus bacteria
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    Furthermore its small size and aqueous solubility mean that it might be delivered in nebulised form to
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    candidates for the suppression of the early phases of inflammation in airway epithelia.
    Along with managing intestinal inflammation, the therapeutic properties of KPV Peptide have demonstrated
    potential in treating ulcerative colitis (UC) and
    other inflammatory circumstances within the intestine.
    Through its particular targeting of affected areas, this peptide can help in lowering irritation, supporting tissue restore, and enhancing general intestine well
    being. This perform is very beneficial for people coping with situations like Crohn’s
    illness, ulcerative colitis, and different types of inflammatory bowel illness
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    KPV and BPC-157 emerge because the forefront contenders in utilizing peptides to
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    Going back to 1997, the importance of a-MSH in addressing inflammatory
    bowel illness (IBD), a prevalent gut disorder, was already evident.
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    The FDA cites “risk for immunogenicity, peptide-related impurities, and limited safety-related information” as causes for the BPC-157 ban. Whereas the ban is immediate, compounding pharmacies can nonetheless run via their current inventory
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    The FDA banned compounding pharmacies from promoting certain peptide therapies.
    Whereas unrestricted vendors may proceed promoting these remedies, this route is risky.

    KPV, or Lysine-Proline-Valine, is a peptide consisting of just three
    amino acids. It is a by-product of a naturally occurring peptide
    generally recognized as alpha-MSH (alpha-melanocyte-stimulating
    hormone), which performs a role in regulating numerous physiological processes.

    KPV is particularly famous for its potential anti-inflammatory, antioxidant, and immune-modulating effects,
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    When exploring the results of KPV Peptide on abdomen most
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    I’ve seen guys using it for gut issues and skin problems with
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    mucosal barrier. It enhances epithelial cell regeneration, reduces inflammatory signaling, and promotes tight junction integrity—crucial for
    addressing leaky intestine, IBD, and food sensitivities.

  3. Quick Reference for Sermorelin Dosing and Calculations

    Sermorelin Intake Calculator with Full Dosage Table

    How to Calculate Your Sermorelin Dose: A Practical Chart

    Sermorelin Usage Planner – Calculator + Dosage Overview

    Sermorelin is a synthetic growth hormone releasing peptide that is often used by athletes, bodybuilders
    and individuals seeking to support anti-aging protocols.
    Because it comes in a lyophilised powder form, the first step
    before any injection is reconstitution with sterile water or bacteriostatic solution. Proper reconstitution not only
    guarantees accurate dosing but also preserves potency and safety.

    Sermorelin Reconstitution Calculator and Dosage
    Chart

    When you have purchased a vial of Sermorelin (typically 2 mg in a 1
    ml ampoule), the next step is to decide how much water to add so that
    each millilitre contains the desired dose. A common practice is to reconstitute with 0.5 to 1.0 ml of sterile water, which gives you either a 4 mg/ml or 2 mg/ml
    concentration respectively.

    The following table shows typical reconstitution volumes and resulting concentrations for standard vial sizes:

    Vial Size (mg) Reconstitution Volume (ml) Concentration (mg/ml)

    1.0 0.5 2.0

    1.0 1.0 1.0

    2.0 1.0 2.0

    2.0 2.0 1.0

    Once you have a known concentration, calculating the daily dose is straightforward: divide the desired milligram amount by the concentration to obtain the volume in microlitres or millilitres that
    should be drawn into a syringe.

    Example: If you reconstitute 2 mg of Sermorelin with 1 ml
    water (giving 2 mg/ml) and your protocol calls for 0.5 mg per day, you would withdraw 0.25 ml (250 µl) from the vial each day.

    Dosage charts used by clinicians and experienced users often list recommended daily ranges:

    Low dose: 0.1 to 0.3 mg per day

    Moderate dose: 0.4 to 0.6 mg per day

    High dose: 0.7 to 1.0 mg per day

    These ranges are tailored for age, body weight, and specific goals such as muscle growth or hormone replacement therapy.
    Always consult a healthcare professional before choosing a dose.

    Tips for Successful Reconstitution

    Sterile technique

    Work in a clean area free of dust or microbes. Use gloves,
    a clean surface, and wipe the vial caps with alcohol before opening.

    Use a sterile syringe

    A 3 ml syringe with a 27-gauge needle is ideal for adding
    water to the vial. This gauge is fine enough to minimise tissue trauma but robust enough to handle
    the small volumes.

    Gentle mixing

    After adding the water, gently swirl or roll the vial between your hands.

    Avoid vigorous shaking; this can introduce bubbles and reduce peptide stability.

    Temperature control

    Keep the reconstituted solution in a refrigerator (2–8 °C) if you are not
    using it immediately. Do not freeze the solution as
    ice crystals damage the peptide structure.

    Label clearly

    Write the concentration, date of reconstitution, and expiry on the vial or its cap.
    This helps avoid dosing errors later.

    Avoid repeated freezing-thawing

    Each time you withdraw a dose, keep the remaining solution in the refrigerator and do
    not expose it to the freezer again.

    Use a calibrated syringe for dosing

    For accurate microlitre measurements, use
    a syringe with clear markings or a dedicated microinjector.

    Monitor for precipitation

    If the solution appears cloudy or shows crystals after reconstitution,
    discard it and start over. This indicates degradation or contamination.

    Store in a dark container

    Light can degrade peptides. Keep the vial wrapped
    in foil or use a dark bottle if available.

    Check sterility before each injection

    Inspect for any particulate matter or discoloration. If anything is off, replace the
    solution.

    By following these reconstitution and dosage guidelines, users can maintain consistency, reduce waste, and achieve their therapeutic or performance objectives safely
    and effectively.

  4. That same study has also determined that the common anabolic steroid user held a a lot greater employment price along with an general higher household income than that of the remainder of the general inhabitants.
    There are a few options you’ve obtainable for obtaining
    a prescription for anabolic steroids. The course
    of is easy; blood is drawn, hormonal ranges are checked, such
    as your free testosterone.
    Bodybuilders often take HGH in exogenous form to increase HGH production, increasing muscle mass and fat loss.

    Although not essentially the most highly effective of steroids, Deca
    is often used by bodybuilders to reinforce the gains from different bulking steroids.
    The above unwanted effects, plus the fact that Sustanon 250 is an injectable steroid, can lead to some folks avoiding this anabolic steroid.

    So please use this information as a information and
    inspiration for creating your cycles and methods, but don’t take it as the ultimate word that
    you want to stick to one hundred pc. There’s nothing wrong with enthusiasm, but diving in with zero knowledge or
    concept of what could go incorrect, let alone HOW
    you have to be utilizing steroids, goes to turn your steroid experience into
    a living nightmare. Some steroids shall be
    more fat-soluble than others and so detectable for longer durations because of them remaining
    within the fat tissue. Injectable steroids have an hooked up ester that controls how rapidly the hormone is released, and these steroids (and their
    metabolites) will at all times remain detectable for for much longer.

    Thus AAS use ought to be strongly discouraged in those that
    develop polycythemia. Alternatively, therapeutic phlebotomy
    could be thought-about for many who, towards better judgment,
    proceed AAS use for extended periods of time. However, it remains to be decided whether or not therapeutic phlebotomy affects clinical endpoints such as MACE and VTE or solely
    ‘treats’ a laboratory abnormality.
    Verify for native medication take-back packages or pharmacy drop-off locations.
    Recycling choices for medications might range, so inquire
    with local waste administration authorities for guidance.
    Diuretics are medicine that change the physique’s stability of fluids and salts.

    They can cause the physique to lose water, which might lower an athlete’s weight.
    Diuretics additionally could help athletes cross drug checks
    that examine for signs of medication within the urine. It also raises the degrees of the protein in red blood cells that carries oxygen to the body’s organs, known as hemoglobin.
    Greater doses of Masteron may find yourself in extreme muscle
    tightening; 300mg per week of Masteron will provide one of the best outcomes for most customers.
    Deca and EQ mix very properly with testosterone, and their estrogenic and androgenic effects are much less severe.
    EQ and Deca can enhance strength and mass achieve whereas minimizing additional unwanted facet effects.
    I’ll cover the great, the bad, and more about long steroid cycles
    here. In my experience, these cycles have their place, BUT
    you better have a great cause for eager to go in this course
    as a end result of it won’t be with out its downsides.

    Testosterone is the primary endogenous hormone belonging to this class.

    It is widely used therapeutically, in varied esterified varieties,
    as alternative remedy in male hypogonadism. Testosterone, and
    a select few other AAS such as nandrolone and oxandrolone, may additionally be prescribed for
    other medical circumstances (e.g., osteoporosis or aplastic
    anemia). Besides this legitimate medical use, AAS
    are broadly used – or rather, abused – for their muscle-building and strength-increasing properties in dosages
    far exceeding those used therapeutically. For brevity,
    within the remainder of this evaluate we
    employ the time period ‘AAS use’ to discuss with the
    nonmedical high-dose abuse of AAS. Navigating the online marketplace for steroids can be
    a challenge, with numerous websites offering merchandise that declare to
    spice up performance and muscle development.
    On the other hand, legal steroid options are thought-about safer options for these looking to improve their bodily efficiency and construct muscle mass.
    They work by using natural components to stimulate the
    body’s hormone production and metabolic processes,
    thereby encouraging muscle growth and fats loss. Additionally, legal steroid options are simply
    accessible, as they can be bought legally and not using a prescription. Hunter Test is a premium authorized steroid designed
    for those who are looking for an extra edge in constructing muscle
    mass and enhancing total efficiency. Made from pure constituents, this powerful supplement offers a safe different to artificial anabolic
    steroids, eliminating the danger of harmful unwanted side effects.
    With its unique blend of potent ingredients, Hunter Test aids in improving stamina, elevating testosterone levels,
    and growing lean muscle mass. Usually the consequence following any
    prohibition and criminalization of a substance generates an enormous flourishing and growth of the black market trade of anabolic
    steroids.
    Consulting a healthcare provider is essential before considering steroid use.
    It is important to be careful and acquainted when you purchase steroids in bulk.
    First of all, age is important; steroids are solely utilized by individuals over the age of
    21 to keep away from inhibiting pure development.
    It is the time for your body to generate its construction, and hormones – in summary, it’s your potential for the long run. Anabolic-androgenic steroids (AAS)
    are artificial (manufactured) versions of the male sex hormone
    testosterone. This is a number of the most important information about oral and injectable steroids in bodybuilding that can be very useful to any athlete and/or
    bodybuilder. Take this brief quiz — we’ll suggest
    fundamental cycle tailored to your gender, age, and fitness goals (muscle
    achieve, fat loss, endurance, etc.).
    Anyplace from 300mg to 2000mg per week of any of the above testosterone steroids may be effectively utilized
    in a standard cycle. Nonetheless, that may be more of a
    complicated strategy that you’d need a specific cause to comply with.
    Most customers shall be glad with the standard testosterone main compound.
    Masteron won’t provide you with estrogen pain and may find yourself
    in increased free testosterone, with users usually reporting enhanced libido as a result.
    On the opposite hand, Masteron does have some androgenic downsides, so hair loss and attainable prostate
    progress could be points, particularly when using Masteron for a long term.
    A lengthy steroid cycle will run wherever from three months as much as 9 months
    in size.

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