Macro Voices

Art Berman: The world is still over-supplied with oil

Erik Townsend and Patrick Ceresna welcome Art Berman back to MacroVoices. Erik and Art ask the question was the oil price collapse more than just a correction? The look at world production surplus for 2019-2020, U.S. oil production and ask if OPEC matters anymore. The further look at trends in world liquid production, perspectives on the Brent and WTI curves and ask why is Brent trading at a premium to WTI.

Barry Ritholtz: Quantitative tightening is not a good reason to be bearish

Erik Townsend and Patrick Ceresna welcome Barry Ritholtz to MacroVoices. Erik and Barry start by defining bull and bear markets and discuss the bullish case for equities. They proceed to discuss the U.S Dollar, interest rate trends, junk bonds and the China credit risks. They then take a deep dive into populism, the growing trends in socialism, crony capitalism and what is wrong with MMT. Special post game guest Charlie McElligott.

Dr. Pippa Malmgren: Donald Trump never expected to win. He ran for President to pursue an ulterior motive.

Erik Townsend and Patrick Ceresna welcome back Pippa Malmgren to MacroVoices. Erik and Pippa discuss the U.S./China trade war, the Korean peninsula and the China South Sea. They move on to discuss the future of Donald Trump, China/Russia relations and the future of hypersonic warfare. They wrap up talking about socialism, populism, surveillance capitalism and the outlook for the equity markets.

Luke Gromen: The “Dollar End Game” has already begun!

Erik Townsend and Patrick Ceresna welcome back Luke Gromen to MacroVoices. Erik and Luke discuss the underlying motives & timing of the dollar and the particulars of oil, Petrodollar, and global Treasury Holdings. They elaborate on the drivers behind the strong dollar and timing of the dollar endgame. We welcome Brent Johnson to the post game show to discuss the different alternatives to how the dollar end game scenarios play out.

Francesco Filia: Stock market CRASH entirely possible

Erik Townsend and Patrick Ceresna welcome back Francesco Filia to MacroVoices. Erik and Francesco discuss bear markets, complex dynamic systems, and the phase transitions and the twin bubbles. The continue discussing tipping points, crash hallmarks and butterflies. They ask why are the risks now and will treasury bonds going to be the benefactor? The end asking how to play the short side of the markets?

Alex Gurevich: Interest rate momentum is an excellent predictor of equity market performance

Erik Townsend and Patrick Ceresna welcome back Alex Gurevich to MacroVoices. Erik and Alex discuss the bigger picture outlook on the business cycle, the yield curve, Treasury bonds and the dollar. They further discuss the current quantitative tightening cycle and when the Fed will again begin easing. They then go around the world discussing the global economies in Australia, Canada, China Japan and Europe. The end with a discussion on where is gold heading in the bigger picture and interest rates momentum as a predictor of equity markets.

Grant Williams: The Trouble in Europe Has Only Just Begun

Erik Townsend and Patrick Ceresna welcome Grant Williams back to MacroVoices. Erik asks Grant if we in a cyclical bear market and where he feels treasury bond yields are headed next. They discuss tensions between China and Taiwan, the rise of global populism and the future of France and Europe. Grant shares his update on how things are developing on Australian Real Estate and the risks of a recession. They end with touching on gold and the U.S. dollar.

Russell Napier: PBOC dictating global inflation

Erik Townsend and Patrick Ceresna welcome Russell Napier back to MacroVoices. Erik and Patrick discuss treasury bonds, China and the tightening of Chinese monetary policy. They ask which central bank is dictating global inflation, the fed monetary policy and ask if the Fed is out of bullets? They end with an outlook for developed stock markets and ask if the decade long bull market over?

Charlie McElligott: Fear the Steepener

Erik Townsend and Patrick Ceresna welcome Charlie McElligott back to MacroVoices. Erik and Charlie discuss the china credit impulse and PBoC liquidity operations. The discuss if this is a bear market rally or continuation of bull market and fading the Fed’s economic optimism. They update CTA positioning across asset classes and positioning in risk parity funds. They finally end with a conversation on the yield curve steepener.

Marin Katusa: Oil, Steel & Diamonds on the Natural Resources Radar

Erik Townsend and Patrick Ceresna welcome Marin Katusa to MacroVoices. Erik and Marin discuss uranium producers and the recent drop in oil prices. They then go on to discuss the opportunities in the steel and diamond industries. They finally wrap things up with a broader look at resource investing and what it takes to be a successful resource investor.