Here is a nine-minute clip of a chat I had with Ben Lichtenstein at TD Ameritrade. Ben captures futures traders’ energy and breadth of vision. Often in institutional settings, one develops a specialization, but in my experience, futures traders are more likely to look across the markets and asset classes. It is one of the lasting lessons learned early in my career on the floor of the CME. We focus on the S&P 500 and yesterday’s German court decision, which I think is a trap that many observers to be walking into and seemingly not realizing that at risk is not just the ECB’s asset purchases, but also the primacy of EU law.