Macro Voices All-Stars

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

Today’s MacroVoices All-Star is Luke Gromen. Luke 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.

• It’s possible both stocks AND bonds have it right, and the USD has it wrong
• Fed Funds moving above IOER “isn’t supposed to happen”
• This is a real-time indicator that USA is headed for a fiscal crisis
• The Fed will be forced to resume balance sheet expansion soon
• Boston Fed governor Lael Brainard’s comments about targeting long-term UST rates

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

Today’s MacroVoices All-Star is Dr.Pippa Malmgren. Erik and Pippa discuss:

• U.S.-China Trade Talks and the Huawei debacle
• Populism winning European Elections (and spreading elsewhere)
• U.S.-Iran Situation

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

Today’s MacroVoices All-Star is Kevin Muir. Erik and Kevin discuss:

• Kevin says the market is way ahead of the Fed pricing in accommodative monetary policy
• Kevin thinks bond longs betting on economic collapse will be disappointed
• Skew in Eurodollar futures offers trading opportunity
• Fixed income vol is dirt cheap relative to equity vol
• Why shorting an INDEX is the wrong way to play a bearish view on U.S./China trade negotiations

Kevin Muir MacroTourist Chartbook

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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.

 Prof. Steve Keen's Article on Richard Vague's book (PDF) 

or on his website: A Brief History of Doom: The New Kindleberger and Mackay

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All-Star Juliette Declercq on Populism

Juliette Declercq believes the surprise outcome of the Australian elections is an important signal as the global populist movement calls for more socialism, yet Australia’s Labor Party was defeated in a surprise ‘upset’ election. Juliette examines the costs of socialism and concludes that deficit spending can continue indefinitely, until inflation re-emerges as a macro risk

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All-Star Brent Johnson: Much higher stock prices possible

Santiago Capital founder Brent Johnson says that U.S. Dollar appreciation could make U.S. stocks (yes, stocks, not treasuries) the preferred safe-haven asset for foreign investors who’ll realize a double-return from investing in U.S. stocks in an appreciating U.S. Dollar macro environment where the return on the stock’s appreciation is enhanced by the foreign exchange performance of the investor’s conversion from his local currency into USD in order to purchase U.S. equities

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All-Star Julian Brigden: The Fed should cut rates NOW!

MI2 Partners founder Julian Brigden explains why the Fed is already late to cut interest rates, and the reason has nothing to do with a China-U.S. trade war.

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On today's episode of MacroVoices All Stars, our host Erik Townsend welcomes Danielle DiMartino Booth to talk about why she thinks Jay Powell is "the Grinch that stole liquidity"

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On today's episode of MacroVoices All Stars, our host Erik Townsend welcomes Luke Gromen to talk about the trade war between US and China

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