Money: Inside and Out

Freedom of expression is a wonderful thing.

I felt that when joining twitter in 2016, after not being able to use the platform while working for years under the strict compliance regime of the sell-side. It was a great feeling to have a space to express a view freely and without restrictions.

In the time since then, my main constraint has been self-imposed. We have restricted access to our analysis, since we run a commercial business and have to prioritize our clients. Hence, mostly all our analytical content has been behind a paywall, although we made exceptions around COVID analytics on @ExanteData.

At Exante Data, we have been thinking a lot about how to strike a better balance between bringing some analysis to a broader audience while keeping our investment strategy appropriately restricted. Money: Inside and Out is an attempt to again break free, and deliver views and analysis on topics we care deeply about, without holding back, to the public.

There are huge unresolved debates about the role of money for financial markets and the economy.

  • Will money printing ever generate inflation?

  • Do fiscal deficits matter for the economy?

  • Is the dollar a function of Fed policy?

We do not want to define the area of focus too narrowly. A lot of the core issues are closely linked: Money. Monetary and Fiscal Policy. Capital Flows. Asset Prices. Balance of Payments.

The goal of Money: Inside and Out is to touch on these topics, drawing on the body of analytical work we have created already at Exante Data and the data infrastructure we have built for clients on

At the same time, we want to emphasize analytical independence and flexibility. Hence, each post will be the responsibility of the author, and the views should not be viewed as ‘official’ Exante Data view, although there often will be ‘correlation’. This is to allow flexibility and experimenting in the process (more so than is possible in our day-to-day investment strategy content.) 

We hope to reach a wide audience, including financial market participants as well as the much bigger group of people who simply have an interest in the area of financial and monetary economics.

We will attempt to go deep, and use the best data and insights from academia, while keeping the presentation succinct.  We think there is a gap to fill, going deeper than most traditional media is able to, while being more timely and market relevant, than academic writers are typically able to.

Less is more, is generally true. Hence, deep but short will be the guiding principle. And we will rather write often than long and infrequent.

The authors will be members of the Exante Data team, including Chris Marsh and Alex Etra, and we may invite guest authors, when appropriate.

For now, we will keep the Substack free. But we may move to a paid model over time, to cover costs, and based on the feedback we get in the initial period.

Jens Nordvig
Founder and CEO
Exante Data Inc.

Subscribe to Money: Inside and Out

The Exante Data team on global macroeconomics and finance.


Senior Adviser. The artist formerly known as The General Theorist.
Founder & CEO at Exante Data Inc.
Data driven insights before the consensus. Ex ante is better than ex post. Building macro strategy for a global audience.
Heading the analysis of Global Political and Policy Risks @ Exante Data; Macro-Strategist and Wayward Lawyer.
Senior Advisor. Focus on Scandinavian currencies.