Welcome to Macro Voices

Erik Townsend welcomes Eric Peters to MacroVoices. Erik and Eric discuss:

• Replacing the USD as the world reserve currency
• The impact of protectionist policies on financial markets
• FED reductions and their impact around the world
• How accurate is the current unemployment rate and what does it mean?
• Entitlements and they will become a serious problem
• The changes we can expect in central bank attitudes moving forward
• Demographics, baby boomers, and millennials and their impact over the coming years on financial markets
• Inflation vs deflation which is right and how to be sure

SPECIAL GUEST: Kevin Muir - This week's co-host and post-game guest.  Make sure to download the post-game chart book as Erik and Kevin will be refering to it through the podcast.  

Click here to register for access to supporting materials.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (69.52 MB) . | Download the podcast transcript:   pdf Here (265 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome back Luke Gromen to MacroVoices. Erik and Luke discuss:

• Current outlook on the U.S. dollar
• Shift of funding in the U.S. deficits
• U.S. “Impossible Trilemma”
• Treasury bonds trading like a risky asset
• Fed taking the “Shoot the Hostage” stance
• Emerging market considerations
• China accelerating global de-dollarization
• U.S. weaponizing the USD and oil against Russia and Iran
• Gold and the gold/oil ratio
• How to trade the second half of 2018

We strongly recommend that you download the chart book that accompanies this interview, as Erik and Luke will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (66.95 MB) | Download the podcast transcript:   pdf Here (299 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Anas Alhajji, Joe McMonigle and Dr. Ellen Wald to the show. Discussed this week:

Dr. Ellen Wald

• Saudi Arabia's perspective on the oil markets?
• Perspective about Saudi Aramco
• Understanding Mohammad bin Salman
• Social Politics in Saudi Arabia
  

Anas Alhajji & Joe McMonigle

• What is driving the oil markets right now?
• Considerations on the Iranian sanctions
• Insights into next week’s OPEC meeting
• Bigger picture geopolitical outlook for the oil markets
• How to interpret the backwardation on oil?

We strongly recommend that you download the chart book that accompanies this interview, as Erik, Anas and Joe will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (72.50 MB) | Download the podcast transcript:   pdf Here (318 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Jeffrey Sherman to MacroVoices. Erik and Jeffrey discuss:

• Big picture outlook on bonds, interest rates and inflation
• Considerations on the treasury COT reports
• Is there a recession coming in the U.S.?
• How much upside on the U.S. Dollar?
• Is the trade being short global high yield bonds?
• How does the economy deal with higher rates and inflation?
• Bullish outlook on gold?
• Investing into commodities and commodity funds

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Jeffrey will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

Get embed code for this episode. | For other embed code options click here | Download the audio MP3 File (71.15 MB) | Download the podcast transcript:   pdf Here (376 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Nomi Prins to MacroVoices. Erik and Nomi discuss:

• Why has QE never led to runaway inflation?
• How has the market been propped up for 10 years without consequence?
• What does the ECB own today?
• The bank of Japan, their program and what it contains?
• Central banks around the world and how they compare?
• When does tapering occur on a global scale?

For the second featured interview Erik Townsend welcomes Pat Hemsworth to discuss:

• Why Saudi Arabia and Russia can’t make up their minds about oil prices?
• Iran sanctions, expectations and what they mean?
• Venezuela, production and what is next?
• OPEC, faking it till they make it?
• What is the forward curve telling us about the market?

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Pat will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (71.00 MB) | Download the podcast transcript:   pdf Here (271 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Dr. Lacy Hunt to MacroVoices. Erik and Lacy discuss:

• Has the bond bear market started?
• What are the opposing views?
• Shorting high yield debt and junk credit
• Where to be on the yield curve right now
• Will America ever be able to repay the debt?
• Where is the point of no return on debt?
• Considerations on global over indebtedness
• Endgame on the systemic problem of debt
• Inflation expectations

 SPECIAL POST GAME GUEST: KEVIN MUIR DISCUSSING THE CURRENT BOND MARKETS

Click here to register for access to supporting materials.

Get embed code for this episode. | For other embed code options click here | Download the audio MP3 File (60.01 MB) | Download the podcast transcript:   pdf Here (241 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Juliette Declercq back to MacroVoices. Erik and Juliette discuss:

• Outlook on the U.S. Dollar for 2018
• Do rate differentials matter?
• Has there been a regime shift?
• Is equity risk premium just catching up to higher real yields?
• How does the economic data tie back into bearish dollar narrative?
• What has happened this year in the U.S. dollar?
• Tactical considerations on a new U.S. dollar short
• Market positioning on the interim
• Can surprising strength in U.S. economy change the outlook?

SPECIAL POST GAME GUEST: TG MACRO'S TONY GREER

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Juliette will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (61.26 MB) | Download the podcast transcript:   pdf Here (245 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Charles Gave to MacroVoices. Erik and Charles discuss:

• The corporate yield curve and what it is telling us about the equity market
• The Hong Kong dollar peg
• China’s debt and related risks
• The risk parity trade with bonds and stocks selling off simultaneously
• “The Upcoming Monetary War, With Gold as An Arbiter”
• Gold bullish vs bearish
• The return of secular inflation
• What happened in the 70’s with inflation?
• Preparing for the return of secular inflation

Click here to register for access to supporting materials.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (62.93 MB) | Download the podcast transcript:   pdf Here (207 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Russell Napier to MacroVoices. Erik and Russell discuss:

• Deflationary risks in the U.S. 
• Context on current higher inflation prints
• How high are risks of a credit event
• Contagion risk if China “sneezes”
• Consideration on the impact of higher rates
• Do we still need a world reserve currency?
• Is there a concern of the US government not being able to fund itself?
• Impact of the global de-dollarization trend
• What is in store for the gold markets?
• What do investors need to consider in the current environment?
• What comes next for the equity markets?
• Impact on emerging market and junk bond markets
• The falling Yen and its impact on Japan

Click here to register for access to supporting materials.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (63.50 MB) | Download the podcast transcript:   pdf Here (301 KB)

Click to Play Now!

Erik Townsend and Patrick Ceresna welcome Marin Katusa to MacroVoices. Erik and Marin discuss:

• Considerations on uranium exports to from Russia to the US
• What options does the US have for new uranium sources?
• Is there an investment play for uranium?
• Electric vehicles and why they’ll be a dominant trend over the coming years
• Why is copper a key component, and how to play it during this trend
• Is copper a sole source material for EV or is there an alternative?
• Will more efficient electric vehicles require more or less copper?
• The copper industry and its ability to scale up
• The investment play for copper and uranium prices going up

Click here to register for access to supporting materials.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (54.97 MB) | Download the podcast transcript:   pdf Here (249 KB)

Click to Play Now!