Macro Mondays
Episodes
Macro Sunday #34 - The Red Sea is WORSENING
28 Jan 2024
Contributed by Lukas
The hopes for a quick solution in the Red Sea are fading and the global inflation impact will likely be lasting. The crisis is now spreading from cont...
Macro Sunday #33 - A new supply shock? Guest: Dario Perkins
21 Jan 2024
Contributed by Lukas
We are once again joined by our favourite global macro economist, Dario Perkins of TSLombard, to discuss the supply shock in the Red Sea. Will the fre...
Macro Sunday #32 - Inflation strikes back! Guest: Bob Elliott
14 Jan 2024
Contributed by Lukas
US inflation is accelerating again but the market is yet to care. Meanwhile, freight ratescontinue to rise on the back of increasing tensions in the R...
Macro Sunday #31 - Spiking freight rates bringing back inflation?
07 Jan 2024
Contributed by Lukas
The situation in the Red Sea is worsening and freight rates are on the rise in some subsectors. Can the situation escalate into a new inflation spiral...
#30 - How’s consensus going to be wrongfooted in 2024? Guest: Marvin Barth
31 Dec 2023
Contributed by Lukas
How are markets positioned for 2024? We discuss the consensus outlook with Marvin Barth of Thematic Markets and weigh pros/cons of betting against th...
#29 - Inflation Volatility is back! Guest: Claus Vistesen
24 Dec 2023
Contributed by Lukas
Is the new ECB/Fed inflation forecast way off? And will inflation resurface already during 2024? Those are key questions for asset allocators. We ho...
#28 - Powell invites for a risk asset party. Guest: Raoul Pal
17 Dec 2023
Contributed by Lukas
Jay Powell invited for a massive risk asset party after the Fed opened the door for several cuts in 2023. Will the Fed suddenly prove to be the most d...
#27 - There is no fever like gold fever - Guest: Ronnie Stoeferle
09 Dec 2023
Contributed by Lukas
Gold has been rallying hard alongside bonds in October and November, but who are the buyers? Retail or central banks? We discuss the Gold outlook with...
#26 - Are central banks asleep at the wheel? Guest: Cathie Wood
03 Dec 2023
Contributed by Lukas
We are joined by the renowned Tech investor Cathie Woods of ARK to discuss the rally in duration heavy equity assets through 2023. Will the rally cont...
#25 - Why is offshore wind not performing? Guest: Suriya Jayanti
26 Nov 2023
Contributed by Lukas
We host the former Chief of the Energy unit at the US Embassy in Kiev and co-founder of the Eney LCC, Suriya Jayanti for a discussion of the malaise i...
#24 - The End of US Outperformance? - Guest: Mike Green
19 Nov 2023
Contributed by Lukas
We host the great Mike Green for a talk on the outlook for the strong-going US economy in comparison to Europe and Asia.We also cover the softer-than-...
#23 - Are central banks insolvent? Guest: Dario Perkins
12 Nov 2023
Contributed by Lukas
We are joined by one of the best central bank watchers in the world, Dario Perkins of TS Lombard to discuss whether negative equity in central banks...
#22 - Either you do Japan, or Japan will do you! - Guest: Weston Nakamura
05 Nov 2023
Contributed by Lukas
The Bank of Japan is the only major currency authority in the post-COVID era to fight back against USD strength via intervention - and win. Can they p...
#21 - Is the US Treasury onslaught over? - Guest: Bob Elliott, Unlimited Funds
29 Oct 2023
Contributed by Lukas
We host the great Bob Elliott of Unlimited Funds to a deep dive into the outlook for US Treasuries. What does the new House speaker and upcoming appro...
#20 - Math and why does it matter? - Guest: Steen Jakobsen, Saxo Bank
22 Oct 2023
Contributed by Lukas
Live from his vacation home in sunny Spain, Andreas hosts the great Steen Jakobsen of Saxo Bank to a talk on commodities, positioning and in particula...
#19 - Energy Stocks are the New Bonds
15 Oct 2023
Contributed by Lukas
We host the great Warren Pies in a discussion on oil, bonds and everything related. Are energy stocks the new bonds and why? We take a closer look.We ...
#18 - Higher energy prices triggering a recession?
08 Oct 2023
Contributed by Lukas
Will the energy price rally trigger the recession as consumer savings are depleted? We look at this week's EIA data, whether it can be trusted an...
#17 - The Nuclear Option
01 Oct 2023
Contributed by Lukas
Is the day of reckoning for nuclear power here at last? After years of stagnation, markets are beginning to show some promise for nuclear technology. ...
#16 - Pause or not, and how to trade it? Guests: Dennis Lockhart and Frances Donald
24 Sep 2023
Contributed by Lukas
Are the central banks on pause or not? We cover all the CB decisions/non-decisions this week and talk to former President of the Atlanta Fed and forme...
#15 - Was that a pause from Lagarde?
17 Sep 2023
Contributed by Lukas
Has the anti-Europe trade become the consensus or is there still juice in the story? We discuss the prospects of European gas storages and the ongoing...
#14 - Is the Second Inflation Wave Coming? - Guest: Mikael Sarwe, Nordea Bank
10 Sep 2023
Contributed by Lukas
Oil could be up as much as 25-30% during Q4 due to the production cuts out of Saudi Arabia and Russia. This is beginning to smell like the 1970's...
#13 - The Rasputin Effect - Guest: Michael Cembalest, J.P. Morgan
02 Sep 2023
Contributed by Lukas
Is the U.S. labour market finally crashing? What will it take to kill the U.S. economy? We ask Michael Cembalest of J.P. Morgan who explains The Raspu...
#12 - USD patriots vs. CNY patriots - Guest: Tony Nash
27 Aug 2023
Contributed by Lukas
Has the PBoC won against speculators in Chinese FX markets? And will equities stabilize due to the contained outflows from China? We invite Tony Nash,...
#11 - Macro Sunday: 3 scenarios for the Chinese response to the RE malaise
20 Aug 2023
Contributed by Lukas
We host Michael Kao for a discussion on the Chinese tool-box and whether the 7.30 line in the sand will hold or not.The situation is very binary. Ei...
#10 - A steeper curve to create a recession - Guest: Bob Elliot
13 Aug 2023
Contributed by Lukas
The yield curve inversion was never a recession signal. An uninversion and higher rates (via bear steepening) is needed to push the economy in to rece...
#9 - Coups, YCC and the big rotation trade
06 Aug 2023
Contributed by Lukas
Is the big rotation now ongoing in rates and equities after the BoJ steepened the JGB curve?Find out as we discuss the bizarre developments in Niger, ...
#8 - From recession to Goldilocks - USA USA USA - Guest: Darius Dale
30 Jul 2023
Contributed by Lukas
From a technical recession in July-2022 to a widespread acceleration in July-2023. The US economy is not done performing and the interest rate sensiti...
#7 - Breaking: 3 reasons why the BoJ decision is NOT a gamechanger
28 Jul 2023
Contributed by Lukas
Markets initially panicked after the Bank of Japan decision to move the needle on the yield curve control was leaked. The new yield curve control regi...
#6 - Geopolitical risks are back - Guest: Claus Vistesen
23 Jul 2023
Contributed by Lukas
Why is the EUR so resilient? And will it continue to be so in the wake of renewed geopolitical turmoil in the Eastern parts of the continent?We welcom...
#5 - 4 reasons why the recession never arrived - Guest: Dario Perkins
16 Jul 2023
Contributed by Lukas
Andreas Steno and Emil Moller of Steno Research host Dario Perkins of TS Lombard for a discussion the recession that never arrived. Steno Research had...
#3 - Why is everyone so obsessed with the BRICS currency? Guest: Jacob L. Shapiro
09 Jul 2023
Contributed by Lukas
What's actually going on in Russia? Is the US taking a softer stance towards China with visits from both Blinken and Yellen? And what's goin...
The weird resilience of the EUR - Guest: Jens Nordvig
02 Jul 2023
Contributed by Lukas
The EUR and European equities have proven surprisingly resilient to a string of weak data from Europe. Why is the EUR trade not rolling over? Andreas ...
Housing rebounds - time to call off the recession? Guest: Warren Pies
25 Jun 2023
Contributed by Lukas
Housing is rebounding and all the sudden the central bank hawks are back on parade. Is it time to call off the recession or will the downside risk inc...
3 reasons why EUR liquidity is a MUST watch over summer
18 Jun 2023
Contributed by Lukas
Welcome to the inaugural episode of Macro Sunday. Each and every Sunday, former Global Chief Strategist of Nordea Bank, Andreas Steno, invites colleag...
Welcome to Macro Sunday!
17 Jun 2023
Contributed by Lukas
Welcome to our new podcast - Macro Sunday. Each and every Sunday, former Global Chief Strategist of Nordea Bank, Andreas Steno, invites colleagues and...