Macro Voices

Weekly market commentary by Hedge Fund Manager Erik Townsend and interviews with the brightest minds in the world of finance and macroeconomics. Made possible by funding from Fourth Turning Capital Management, LLC
Title Date Author

All-Stars #17 Danielle DiMartino Booth: The Fed is setting the stage for NIRP!

All-Star Danielle DiMartino Booth is on fire this week! Danielle says the Fed's language change at the Chicago conference can only mean one thing: They're getting markets ready for NIRP. Not ZIRP, but NIRP!

2019-06-14 MacroVoices

MacroVoices #171 Josh Steiner : Canadian and American Real Estate Markets are Polar Opposites

Erik Townsend and Patrick Ceresna welcome Josh Steiner to MacroVoices. Erik and Josh discuss U.S. and Canadian real estate, swelling mortgage debt in Canada and deteriorating household finances and more.

2019-06-13 MacroVoices

Energy Week: Natural gas backwardation in mid-summer?

Energy Week panelists Art Berman, Chris Cook and Patricia Hemsworth weigh in on anomalies in natural gas forward curves and what they mean. Also an update on the market sell-off and where it's headed.

2019-06-12 MacroVoices

All-Star Brent Johnson: This past weekend’s developments don’t change Brent’s Dollar-bullish view

Today’s MacroVoices All-Star is Santiago Capital's Brent Johnson, who says this past weekend's ECB and US-Mexico developments do NOT change his dollar-bullish outlook.

2019-06-11 MacroVoices

All-Star Luke Gromen: The USD-centric system is slowly losing ground

All-Star Luke Gromen says oil isn't the only commodity China will begin pricing in its own currency for international settlement, further evidencing China's commitment to de-dollarization. Also an update on Luke's tactical views on the USD.

2019-06-10 MacroVoices

All-Star Jeffrey Snider: Yield curves and Eurodollar futures say something is very broken!

Today’s MacroVoices All-Star is Jeff Snider, who says the yield curve and Eurodollar futures spreads spell a clear message for markets! Be sure to download the associated chartbook.

2019-06-07 MacroVoices

Brent Johnson: A big dollar rally could drag stocks higher with it

Erik Townsend and Patrick Ceresna welcome Brent Johnson to MacroVoices. Erik and Brent discuss Brent’s “Dollar Milkshake Theory”, short term and long term outlook on gold, and what impacts the dollar breakout will have on US and the global economy.

2019-06-06 MacroVoices

Energy Week: Sentiment sea change, Iran/Venezuela/Saudi Arabia & More. Panel Berman/Alhajji/Shuchart

This week's MacroVoices Energy Week features Art Berman, Anas Alhajji and Tracy Shuchart. Topics include the sentiment sea change and what's driving it, Iran, Saudi Arabia, & Venezuela, OPEC+ & much more.

2019-06-05 MacroVoices

Inside the Investment Committee: The 2016 big short in fixed income

The inaugural episode of MacroVoices INSIDE THE INVESTMENT COMMITTEE featuring Julian Brigden, Juliette Declercq and Alex Gurevich takes you inside the process professional fund managers and their advisers use to source and vet macro trading strategies.

2019-06-04 MacroVoices

All-Star Julian Brigden: The Fed needs to ease

Today’s MacroVoices All-Star is Julian Brigden, who says that the Fed needs to ease and why the dollar is crucial to kick off the next wave of the cycle

2019-06-04 MacroVoices

All-Star Steve Keen: Debunking the fake climate science of William Nordhause

Today’s MacroVoices All-Star is Professor Steve Keen, who says Nobel laureate William Nordhaus has failed to consider tipping points that will make the impact of climate change far worse than Nordhaus predicts.

2019-06-03 MacroVoices

All-Star Danielle DiMartino-Booth: Deflation is the name of the game unless/until helicopter money hits the stage

Today’s MacroVoices All-Star Danielle DiMartino Booth says deflation, lower commodity prices, and lower bond yields will be the theme going forward unless/until the political process brings MMT or other “Helicopter Money” into the equation.

2019-05-31 MacroVoices

Lakshman Achuthan: Economic cycle analysis does NOT indicate end of business cycle

 Erik Townsend and Patrick Ceresna welcome Lakshman Achuthan to MacroVoices. Erik and Lakshman discuss the concept of late cycle and how the cycle works, correlation between growth rate downturn and risks of a recession, and what the leading indicators show when the cycle is ending.

2019-05-30 MacroVoices

Energy Week Episode 4: There’s been a disturbance in the force! (What just happened?)

This week's MacroVoices Energy Week features Ole Hansen, Chris Cook and Patricia Hemsworth. What's driving this week's roller coaster ride in oil prices? China Trade? Iran? Inventory builds? Our panel weighs in.

2019-05-29 MacroVoices

All-Star Luke Gromen: There’s reason to think the U.S. Dollar is topping here

Today's MacroVoices All-Star Luke Gromen says that the Fed Funds rate moving stubbornly over IOER is a clear sign that the Fed will soon be forced to supply more dollar liquidity, a bearish sign given current sentiment extremes.

2019-05-29 MacroVoices

All-Star Dr. Pippa Malmgren: Geopolitics is increasingly important for investors!

Today's MacroVoices All-Star Dr.Pippa Malmgren says that between the U.S.-China trade situation, populism winning in European elections, and the unfolding U.S-Iran debacle, Geopolitics is more important than ever for investors.

2019-05-28 MacroVoices

All-Star Kevin Muir says the market is way ahead of the Fed in pricing in easing!

Kevin says the market is way ahead of the Fed in pricing in accommodative monetary policy and thinks bond longs betting on economic collapse will be disappointed, and explains why shorting an INDEX is the wrong way to play a bearish view on U.S./China trade negotiations

2019-05-24 MacroVoices

John Greenwood: We’re at mid-cycle, not late-cycle. Bull Market has plenty of room to run higher.

 Erik Townsend and Patrick Ceresna welcome John Greenwood to MacroVoices. Erik and John discuss where we are in the business cycle, the mechanics of what really drives the cycle and what comes next.

2019-05-23 MacroVoices

ENERGY WEEK: Geopolitics, front month prices vs. steepening backwardation, and Brent-WTI spread.

ENERGY WEEK #3 features Anas Alhajji, Patricia Hemsworth, and Art Berman.
Topics: Geopolitics/Iran, disparity of front month prices and forward curve backwardation, and WTI-Brent Spread.

2019-05-22 MacroVoices

All-Star Prof. Steve Keen on Richard Vague's new book, A Brief History of Doom

Today’s MacroVoices All-Star is Professor SteveKeen, who weighs in on Richard Vague’s new book, A Brief History of Doom. Steve says Vague has it exactly right, and his analysis of what caused 2008’s Great Financial Crisis jibes almost exactly with Steve’s own analysis of that event.

2019-05-21 MacroVoices

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Patrick Ceresna shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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