Definitions for "Global Macro"
An opportunistic hedge fund investment strategy that seeks to profit by making leveraged bets on anticipated price movements of global stock markets, interest rates, foreign exchange rates, and physical commodities. The portfolios of these funds can include stocks, bonds, currencies, and commodities in the form of cash or derivatives instruments.
Managers employ a ‘top-down’ approach to capitalise on changes in the global macroeconomic environment through active trading in the various capital markets.
One of the oldest hedge fund strategies characterized by a broad range of strategic options. It is based upon a macroeconomic analysis of major developments in the political and economic spheres. The fund manager seeks to identify at an early stage breaks in trends affecting equity, interest rate or currency movements or shifts in the global economy and to profit from them. A hallmark of Global Macro is the use of derivatives based on crude oil and gold. However, a much more significant use of commodity-based derivatives is the  Managed Futures approach.