Modern Macro Technologies
Research · · 3 min read

Hybrid HRP/MVO Dynamic Portfolios

A portfolio-construction note: blending Mean-Variance Optimization with Hierarchical Risk Parity at roughly 70/30, tested across sector, market-cap, and bond ETF rotations with a 15% misclassification error built in.

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More research

The Only Way Treasury Gets Lower Rates Without the Fed

Bessent wants lower long-term rates without the Fed. The TGA build, the doubled buybacks -- none of it will work, and the one fiscal lever that does is the one nobody in this administration will name. Free

08/27/2026 Market Update: The Bessent Buyback Mirage, and Why Mid-September Is the Brittle Zone

The Bessent buyback treated as a mirage: the TGA mechanics, the one lever that would actually bring rates down, and why nobody in Washington will pull it. Also flagged — a mid-September brittle zone, and a rare disagreement with DeepMMT. Members

Addressing the WSJ's Latest MMT Hit Piece

The WSJ blames MMT for the pandemic inflation. Their tax arithmetic is right, their description of MMT isn't, and their causal chain runs backwards. Free