Podcasts about Macroeconomics

MacroVoices Erik Townsend & Patrick Ceresna welcome David Rosenberg. They discuss David Rosenberg's view that energy shocks are unlikely to drive sustained inflation without wage growth, along with the Fed regime shift and higher real yields, potential midterm gridlock and Treasury issuance as bond-market catalysts, Chinese open-source AI and housing weakness as disinflationary forces, the gold outlook, and the ROSY ETF and book news.   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

They discuss how Iran's threats to extend its strikes into the Indian Ocean and a possible 90-day U.S. diesel export ban could deepen the energy crisis, why Washington is rallying allies like Canada and Latin America into a U.S.-led bloc against a China–Russia–Iran–North Korea axis, and how fears of a 2027 Taiwan move, AI supremacy, and tactical nuclear escalation are reshaping markets, capital flows, and national security.   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

What did President Xi Jinping's summit with Donald Trump tell us about the future of US-China relations? Has the latest trade truce brought the two sides any closer to resolving their differences? And with China's exports booming despite weak domestic demand, can the economy continue to hold up?Chief Global Economist Jennifer McKeown and Head of China Economics Julian Evans-Pritchard join us on the latest episode of The Weekly Briefing to discuss the Xi-Trump summit, tariffs, rare earths, AI and Taiwan, as well as the outlook for China's economy.Also on the show, we discuss the latest edition of our China Economic Outlook, including why exports remain so strong, why domestic demand is still weak and what this means for China's growth, inflation and property markets.https://www.capitaleconomics.com/publications/china-economic-outlook/near-term-relief-headwinds-remainhttps://www.capitaleconomics.com/key-issues/china-shock-20

MacroVoices Erik Townsend & Patrick Ceresna welcome Michael Every. They discuss how escalating Iran–Middle East and Russia–Ukraine conflicts are weaponizing energy markets, why a looming global diesel crunch could fracture the “one-world” oil system into U.S.-led regional blocs, and how Washington may increasingly use tools like export bans, Arctic basing rights, and even dollar stablecoins as instruments of geopolitical statecraft against China and other rivals. https://bit.ly/4iRZKlX    ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

Originally published on May 1st, 2026.Peter McCrory, the Head of Economics at AI juggernaut Anthropic, joins the Inside Economics team to consider all things AI and the economy. The discussion begins with how the group is using Claude in our work, then shifts to AI's current and expected lift to productivity, and to the underappreciated economic ramifications of AI. It turns out that Lancaster PA, is turning out some great economists.Guest: Peter McCrory, Head of Economics at AnthropicFor more from Peter McCrory: https://peter-mccrory.github.io/Read The Macroeconomic Consequences of AI and Aging and the Productivity PuzzleView our latest articles and research on AI- https://www.economy.com/ai-insight-hubHosts: Mark Zandi – Chief Economist, Moody's Analytics, Cris deRitis – Deputy Chief Economist, Moody's Analytics, and Marisa DiNatale – Senior Director - Head of Global Forecasting, Moody's AnalyticsFollow Mark Zandi on 'X' and BlueSky @MarkZandi, Cris deRitis on LinkedIn, and Marisa DiNatale on LinkedIn Questions or Comments, please email us at InsideEconomics@moodys.com. We would love to hear from you. To stay informed and follow the insights of Moody's Analytics economists, visit Economic View. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special episode of The Lawyers Weekly Show, produced in partnership with Commonwealth Private, we reflect on the bounty of holistic volatility currently being witnessed in the market and how lawyers can and should interpret such fluctuations for their long-term investment strategies. Host Jerome Doraisamy welcomes Chris Watson, Executive Manager of Asset Allocation at Commonwealth Private, to discuss how investors can distinguish market noise from meaningful events. Chris shares what he's watching over the next 12–18 months, and how to interpret labour market resilience amid sector-specific pressures. More importantly, they look at what's happening across the markets and why lawyers should stay the course during periods of market volatility. To learn more about Commonwealth Private, click here. If you like this episode, show your support by rating us or leaving a review on Apple Podcasts (The Lawyers Weekly Show) and by following Lawyers Weekly on social media: Facebook, X and LinkedIn. If you have any questions about what you heard today, any topics of interest you have in mind, or if you'd like to lend your voice to the show, email editor@lawyersweekly.com.au

Liz Ann Sonders and Collin Martin analyze the Federal Reserve's latest rate hike. They unpack why the Fed acted now, arguing that inflation remains too persistent despite a resilient economy, strong labor market, and robust consumer spending. They discuss the Fed's updated projections, which suggest inflation may not return to its 2% target until 2028 and imply the possibility of additional rate hikes ahead.The conversation then turns to market implications. Stocks sold off following the announcement as Treasury yields climbed above 5%, reflecting expectations that monetary policy may remain tighter for longer. Liz Ann highlights that while some inflation pressures are supply-driven, there are also demand-side forces at work, including AI-related capital spending and continued economic strength. Collin and Liz Ann emphasize that higher rates today could ultimately help reduce inflation and bring down long-term borrowing costs, even if the path is bumpy for markets in the near term.Finally, Collin and Liz Ann look ahead to next week's upcoming macroeconomic indicators and key data releases. On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThis material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results.Investing involves risk, including loss of principal.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see Schwab.com/IndexDefinitionsA hyperscaler is a large-scale cloud service provider that offers vast computing, storage, and networking resources through a distributed infrastructure of interconnected servers and software.(0926-8ZSE) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Neil Shearing and Jennifer McKeown unpack a pivotal week for the world's major central banks. They discuss the Federal Reserve's latest rate hike and what it says about the independence of central banks in an era of political pressure. They then talk about why the market may be mispricing the future path of interest rates in the US, euro-zone, Japan and the UK. Finally, they discuss Capital Economics' new China Shock 2.0 research programme, exploring how China's export surge is reshaping the global economy and creating challenges and opportunities for Europe, Asia and beyond.Find out more about our China Shock 2.0 work and upcoming events:https://www.capitaleconomics.com/events#in-personhttps://www.capitaleconomics.com/key-issues/china-shock-20 

MacroVoices Erik Townsend & Patrick Ceresna welcome Harley Bassman. They discuss the Fed's credibility crisis, the fiscal recklessness behind higher term premiums, and how mortgage convexity, ETFs, and hyperscaler borrowing are rewiring the global bond market. https://bit.ly/46wQwnB    ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

A 7th generation shipper and 2nd generation winegrower, Basile Aloy of Avignonesi in Tuscany, has a unique perspective on the geopolitical and macroeconomic events happening today and how they impact the cost of wine. Oil prices, war, tariffs, and climate change all come into play in this wide ranging conversation that showcases how much some of these macro events impact the world of wine. Detailed Show Notes: Basile's background: Chairman of Avignonesi, wine distribution in Italy & US, 7th generation shipping family, CEO of shipping businesses EBE & Victrix, studied winemaking in BordeauxRuns a fleet of dry bulk carriers in shipping, does not ship wineIran war has increased the cost of cargo, a 40 ft container for wine went from $1,600 to $2,700 (~70% increase), however, per bottle (~18k bottles/container) that goes from $0.09 to $0.15/bottle (not a huge impact)Many ships have been re-routed around South Africa instead of crossing the Suez Canal, they don't send ships through Hormuz, which has caused congestion for trucking in the Middle EastThere has been less fuel on the market, causing some wait times to re-fuel shipsTariffs have had a bigger impact on wine costs, earlier in 2026, Italy paid 15% tariffs on wine to the US, mid-2026 it is now down to 10%, which has outweighed the freight increaseFood costs are rising, ~30% of global fertilizers come from the Middle East, diesel costs are up; food price increases are comingDomesticating production can be challenging, but it is happening in some places, both Canada and China are leaning in; Avignonesi saw China as a big growth market, but has fallen dramatically, partially due to high quality wines made in ChinaBoth shipping and wine are very capital intensive, but ships can be purchased on the secondary market, where prices swing dramatically (from $25M to $75M in 5 years); wine cycles are much longer, which can create longer downturns like we're experiencing todayAvignonesi overview170 ha vineyardsFocused on Sangiovese and some international varieties, as well as Vin Santo~50-60% exportedItalian market is semi-export, as tourists drive a decent amount of consumption (e.g. - during Covid, Italian sales were down ~20-30%)Basile's family took over Avignonesi in 2009, have a vision to be more transparent with customers, healthy (move towards organic and biodynamic viticulture), and a desire to take care of the environment, broadly speaking (become a B Corp, provide English classes to the community)Avignonesi requested permission from regulators to put “Nobile” bigger than “Montepulciano” for their Vino Nobile di MontepulcianoWine is more brand driven vs shipping, need to be careful about discounting and its impact on the brandShipping can be more sustainable than trucking wine; glass weight of wine has a huge impact on sustainability (~750g of wine in a bottle vs ~400-800g of glass; Avignonesi chose light weight bottles)Europe is like Disneyland, “growers of memories,” which builds a connection to their wines, particularly the premium winesThe future of Avignonesi: starting a re-branding exercise, planted a “3rd millennium” vineyard to address viticulture issues with climate change (1st harvest 2027) Hosted on Acast. See acast.com/privacy for more information.

Nonprofits are facing a more complex mix of pressures amidst shifts in the landscape, some newer and some that have become more pointed. In a new episode of Conversations with Commerce Trust, Chief Investment Officer and host David Hagee is joined by Amy Pieper, Director of Institutional Client Sales and Service, to discuss the insights and trends driving the need for nonprofits to segment their donor strategies, look more broadly at tools that can strengthen the approach to governance, and enable a more nuanced approach to portfolio management.Find all of our Podcasts at: https://www.commercetrustcompany.com/research-and-insights/podcasts

MacroVoices Erik Townsend & Patrick Ceresna welcome, Matt Barrie. They discuss the rise of agentic AI and cheap open‑source models, how running AI on your own hardware will reshape enterprises and how this shift will massively disrupt white‑collar work.   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

The stunning surge in Chinese exports bears comparison with what happened during the first China shock of the early 2000s. But this time is different: the scale is much larger, the goods being exported are much more advanced and the geopolitical environment is much more fraught.In this special episode of The Weekly Briefing, Group – Chief Economist Neil Shearing introduces Capital Economics' new series on China Shock 2.0, explaining what this shock means for the global economy, why the costs this time are falling hardest on Europe and why an orderly adjustment to global imbalances looks out of reach. Find out more about our events happening in North America, Europe and Asia this autumn:https://www.capitaleconomics.com/events#in-person 

Fed Chair Kevin Warsh's Jackson Hole speech struck a more hawkish tone than investors expected, increasing the likelihood of another rate hike as the Fed remains focused on persistent inflation. Collin Martin and Liz Ann Sonders discuss what that means for markets, why the speed and purpose of rate hikes matter more than any specific interest-rate level, and how investors may be entering a new era of higher inflation volatility, shifting stock-bond relationships, and increased market sensitivity to economic data. Finally, they look ahead to the indicators and data that could matter most to investors in the coming week.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThis material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results.Investing involves risk, including loss of principal.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see Schwab.com/IndexDefinitionsA hyperscaler is a large-scale cloud service provider that offers vast computing, storage, and networking resources through a distributed infrastructure of interconnected servers and software.Negative correlation refers to investments that tend to move in opposite directions: when one rises, the other falls.(0926-41YN) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

That was a much hotter payrolls report than the market had expected, but how will it influence this month's Fed decision? With inflation risks still prevalent, how will the ECB and Bank of England approach their September meetings? And what does the surge in bond yields mean for economies?Group Chief Economist Neil Shearing and Chief North America Economist Stephen Brown join David Wilder on the latest episode of The Weekly Briefing to discuss energy prices, bond yields, inflation risks and what they mean for the path of interest rates.Also on the show, with resurgent energy prices adding to the dilemma facing central bankers and bond markets, we hear an exclusive excerpt from a recent client briefing on our outlook for markets. Our Commodities team looks at the near-term risks to oil product prices and natural gas supply, as well as what the US-Venezuela oil deal could mean for energy markets.Related contentGlobal Drop-In: Post-summer macro and markets outlook, Tuesday 8th September 0900 BST/1600 SGT: https://www.capitaleconomics.com/events/global-drop-post-summer-macro-and-markets-outlook 1000 ET/1500 BST: https://www.capitaleconomics.com/events/global-drop-post-summer-macro-and-markets-outlook-0 Watch now: Commodities catch-up – What next for energy, gold and agriculturals?https://www.capitaleconomics.com/events/drop-commodities-catch-what-next-energy-gold-and-agriculturals

MacroVoices Erik Townsend & Patrick Ceresna welcome, Carly Anderson. They discuss the coming “nuclear renaissance” driven by small modular reactors and mass manufacturing and how deep‑tech venture investing and industrial robotics can accelerate this energy transition. https://bit.ly/3Up1SaC    Website: https://timescale.vc Substack: https://timescalevc.substack.com/ (coming soon)   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

Mike Reed, Head of Global Financial Institutions, is joined by Sid Chhabra, Head of Securitised Credit and CLO Management & European High Yield. Although one of the largest and most dynamic segments of the global fixed income markets, the asset class remains significantly underrepresented in many institutional investor portfolios. With a market size exceeding USD5 trillion – larger than the entire US high yield market – securitised credit deserves far greater attention than it typically receives. For investors seeking resilient returns, meaningful diversification, and exposure to a dynamic, liquid market aligned with current macro risks, understanding securitised credit is essential.

John Rubino, {Substack https://rubino.substack.com/}, joins us for another wide-ranging discussion around the macroeconomic forces at play between monetary policies and fiscal policies, both domestically and internationally. This is accented by the geopolitical ramifications on the inflation outlook, especially as it relates to the energy sector via rising oil and diesel price trends.  We also get John's outlook on key metals like copper, gold, silver and what kinds of resource stocks that he is animated by in this environment.   We start off dissecting the opposing policy initiatives and stated goals of fiscal policy from the US Treasury Department, versus the monetary policy approaches and messaging by the Federal Reserve.   US Treasury Secretary, Scott Bessent, recently showed a bit of desperation by intervening in the Japanese Yen in early August to stave off potential runs on US treasuries, and tried to intervene in long-dated bonds, to try and bring down the long-end of the yield curve. Kevin Warsh roiled markets some in late August, where his remarks from the Jackson Hole banking symposium were taken as hawkish by the markets, where he has signaled being open to hiking rates to fight the effects of persistent inflation above their stated goal. John points out the incoherent approach in the US between these 2 opposing forces.   Next, we got John's take on the energy sector, in lieu of continued conflict in the Middle East and Persian Gulf, and how it may play into rising inflation.   John points out how diesel prices are woven into the fabric of everyday life through freight, manufacturing, farming equipment, and how the record crack spreads from refining are going to result in higher inflation metrics.   At the same time the US is having a “war of choice” that is causing inflation in the form of higher oil prices and higher crack spreads on diesel pricing; the Fed is still considering hiking rates to fight inflation. Those 2 forces could lead to a recession if the trends don't change in the near-term.   This leads into the observation of the continued strength in the copper price, holding up near all-time highs, despite what should be macroeconomic and geopolitical headwinds.   John shares why he remains longer-term bullish copper price appreciation due to the compelling supply/demand fundamentals. He also shares why he is short-term constructive on copper producers and key junior development assets that may become acquisition targets by the senior companies. The caveat John mentions is the unknowable nature of the medium-term. If there is an economic recession brought about by the softening in AI data center buildouts, or a rolling over of the lofty valuations in US equities, then this could also still pressure copper and copper stocks to the downside.   Wrapping up, we review the strong financial health of the gold and silver producers and highlight that metal producers will need to look to growing production through purchasing more mineral inventories in the ground via advanced development projects or currently producing assets.   PM producers and royalty companies just reported a great Q2 earnings season in August, continuing to highlight increased revenues and rising cashflows, despite many companies seeing flatlining or even declining production metrics. The strong metals prices have been seemingly more germane to earnings than strong fundamental growth has been. Cashed up gold and silver producers will eventually need to replace their depleting reserves, so the environment is present to start seeing more mergers and acquisitions for the balance of this year and next.     Click here to follow John's analysis and articles over at Substack     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

  Macroeconomic uncertainty, persistent inflation, and geopolitical conflicts are reshaping capital flows across the commodity complex. This episode brings together precious metals and energy sector...

Macroeconomic uncertainty, persistent inflation, and geopolitical conflicts are reshaping capital flows across the commodity complex. This episode brings together precious metals and energy sector experts to unpack where the real risks and asymmetrical opportunities lie for resource investors.    Segment 1 & 2 - Jeff Christian, Managing Partner at CPM Group, breaks down the current precious metals landscape, examining central bank gold purchasing patterns, rising counterparty risks in metals-backed stablecoins, and the transition into a late-stage bull market cycle. He also analyzes how Federal Reserve interest rate policy, unsustainable U.S. fiscal deficits, and shifting industrial silver demand across solar and AI sectors will shape the broader trajectory of precious metals.  Click here to visit the CPM Group website to learn more about the firm - https://cpmgroup.com/   Segment 3 & 4 - Josef Schachter, founder and editor of the Schachter Energy Report, alongside Nathan Ritchie, the firm's VP of Energy Research, joins us to analyze the macro forces driving oil and natural gas markets, including Middle Eastern geopolitical tensions, strategic petroleum reserve levels, and record crack spreads. Together, they highlighted investment opportunities across Canadian energy equities, emphasizing heavily discounted valuations among junior producers, capital allocation strategies between growth and share buybacks, and emerging M&A activity.  Josef's Catch The Energy Conference - Oct 17th 2026 - Josef is offering free tickets, enter promocode - KER26   If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don't forget to subscribe and leave us a review!   For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

With yields at historically attractive levels and the yield curve offering attractive opportunities, fixed income is drawing renewed attention from investors seeking both income and capital preservation. But is the short end of the curve really as appealing as it seems—and what should investors know about the risks and rewards?In this episode, Ayako Lehmann, Head of Webcasts & Video at Julius Baer, is joined by Roman Frey, Head of CIO Office Global Fixed Income and voting member of the Fixed Income Investment Committee. Together, they explore why fixed income deserves a place in every portfolio, the importance of duration, credit risk, and liquidity, and how macroeconomic factors and central bank policy shape the opportunity set. The conversation covers the dynamics of the primary and secondary bond markets, the role of market technicals, and why short-dated bond strategies may offer a compelling alternative to cash and money market funds. Roman also discusses the impact of the Federal Reserve's evolving communication style under Kevin Warsh, the practicalities of managing strategic cash, and why now may be a particularly attractive time to lock in yields.(00:00) - Introduction (01:28) - Is fixed income really boring? (04:39) - Understanding duration and credit risk (06:53) - Liquidity and the importance of the primary market (10:08) - Macroeconomic factors and central bank policy (12:40) - Market technicals and the impact of supply and demand (14:03) - Hyperscalers and the shape of new bond issuance (16:31) - Cash versus bonds—what investors should consider (20:34) - The Fed's new communication style and implications for investors (23:08) - Is short duration the right approach now? (25:27) - What makes short-dated bond strategies attractive? (28:28) - Managing short-dated bonds: hold to maturity or switch? (29:48) - Risk and return trade-offs in short-dated strategies (32:21) - Investment horizon and the role of strategic cash (34:51) - Yield curve steepness and the roll-down effect (36:16) - Is now a good time to invest in bonds? (38:23) - Closing and legal information Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

This episode of On Investing looks at a market environment increasingly shaped by persistent inflation, rising long-term Treasury yields, fiscal concerns, and renewed trade tensions. Liz Ann Sonders and Collin Martin begin by discussing the latest inflation data, which continues to show price pressures well above the Federal Reserve's 2% target. While wage growth is not driving inflation, they highlight several other forces keeping inflation elevated, including energy prices, tariffs, and the massive investment required to support the AI boom. The conversation then turns to Treasury Secretary Scott Bessent's efforts to influence long-term interest rates after yields surged. Collin argues that Bessent's actions are understandable given concerns about mortgage rates and borrowing costs, but he views them as a short-term response to a much deeper issue: the nation's growing debt burden and ongoing fiscal deficits. Both hosts suggest that attempts to manage yields address the symptoms rather than the underlying causes. They also explore the potential tension this creates with the Federal Reserve, which may prefer tighter financial conditions to combat inflation. The episode closes with a look ahead to the Fed's Jackson Hole conference, upcoming labor market reports, purchasing manager surveys, and other economic data that could shape expectations for both growth and Fed policy. You can read the report Liz Ann mentions here: "Great Moderation Era: Drift(ing) Away." On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal. Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Investing in alternative investments is speculative, not suitable for all clients, and generally intended for experienced and sophisticated investors who are willing and able to bear the high economic risks of the investment. Investors should obtain and carefully read the related prospectus or offering memorandum, which will contain the information needed to help evaluate the potential investment and provide important disclosures regarding risks, fees and expenses. Commodity-related products carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, may be illiquid, and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see Schwab.com/IndexDefinitions Negative correlation refers to investments that tend to move in opposite directions: when one rises, the other falls. (0826-1AXY) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MacroVoices Erik Townsend & Patrick Ceresna welcome, Daniel Lacalle. They discuss sovereign debt, inflation, and the rise of cryptocurrencies and stablecoins forcing a shift toward more decentralised monetary systems. ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

Can another set of blow-out AI earnings reignite the rally that has powered equities for so long but recently seems to have run out of puff?Chief Markets Economist Jonas Goltermann joins The Weekly Briefing from Capital Economics to discuss the latest tech earnings, whether Scott Bessent has managed to cap Treasury yields and what investors will want to hear from Kevin Warsh in his Jackson Hole address.Also on the show, just days after Bessent announced ‘Economic D-Day' for Iran, Chief Emerging Markets Economist William Jackson assesses how much pain the Iranian economy is in and whether further pressure from the Trump administration could be enough to force Tehran to capitulate.Related contentConcentrated earnings probably mean concentrated returnshttps://www.capitaleconomics.com/publications/capital-daily/concentrated-earnings-probably-mean-concentrated-returnsCan Iran continue to hold out?https://www.capitaleconomics.com/publications/middle-east-north-africa-economics-update/can-iran-continue-hold-out

In this episode of On Investing, Liz Ann Sonders and Collin Martin examine the recent surge in global bond yields and what it means for investors. Collin explains that long-term Treasury yields have risen due to a combination of the Federal Reserve's hawkish posture, elevated uncertainty premiums, fiscal concerns, and a global move higher in interest rates. He emphasizes that inflation expectations remain relatively well-behaved, suggesting the rise in yields is less about fears of runaway inflation and more about uncertainty, government borrowing needs, and a "higher for longer" interest rate environment.  Liz Ann discusses how higher yields affect stocks, noting that growth-oriented sectors, real estate, and utilities are particularly sensitive to rising rates. She also argues that investors may be operating in a more volatile "Temperamental Era," where inflation and bond yields play a larger role in driving equity market performance than they did during the decades-long "Great Moderation."  Then, Liz Ann interviews former St. Louis Fed President Jim Bullard, who argues that the Federal Reserve risks falling behind the curve by tolerating inflation near 3% rather than returning it to its 2% target. Bullard shares his views on monetary policy, AI's potential impact on productivity, geopolitical risks, financial markets, and the evolving economic landscape.  Finally, Liz Ann and Collin provide a preview of upcoming economic indicators and data releases, including the Fed's preferred inflation measure, housing data, and consumer sentiment surveys. You can read the report Liz Ann mentions here: “Great Moderation Era: Drift(ing) Away.” On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.  If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab. This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Treasury Inflation Protected Securities (TIPS) are inflation-linked securities issued by the US Government whose principal value is adjusted periodically in accordance with the rise and fall in the inflation rate. Thus, the dividend amount payable is also impacted by variations in the inflation rate, as it is based upon the principal value of the bond. It may fluctuate up or down. Repayment at maturity is guaranteed by the US Government and may be adjusted for inflation to become the greater of the original face amount at issuance or that face amount plus an adjustment for inflation. Treasury Inflation-Protected Securities are guaranteed by the US Government, but inflation-protected bond funds do not provide such a guarantee. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. (0826-Z0K4) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This special episode of The Weekly Briefing from Capital Economics features an exclusive extract from our client briefing on the global bond sell-off, its causes, consequences and where markets go from here. In this edited extract, Group Chief Economist Neil Shearing and Chief Markets Economist Jonas Goltermann answer questions from clients around the world, including:What was Scott Bessent's Treasury market intervention intended to achieve, and why it has so far fallen short?What are the economic forces pushing investors to demand more compensation for holding long-dated government bonds?Which economies are most exposed to a fiscal crisis?Is the AI credit boom affecting demand for government debt?How high could bond yields rise from here?Related contentRead: How to think about the bond market sell-offhttps://www.capitaleconomics.com/publications/global-economics-focus/how-think-about-bond-market-sellRead: What taxes could Burnham raise to fund his policy ambitions?https://www.capitaleconomics.com/publications/uk-economics-update/what-taxes-could-burnham-raise-fund-his-policy-ambitions

MacroVoices Erik Townsend & Patrick Ceresna welcome, Darius Dale. They discuss how fourth-turning dynamics, debt “disease,” and policy manipulation are reshaping bond markets. https://bit.ly/4cSYSJI   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

Join an active community of RE investors here: https://linktr.ee/gabepetersen 

In Episode 349 of The Higher Standard, Chris breaks down why cooling CPI doesn't mean inflation is dead, why the Fed may be walking straight into a stagflation trap, and how a weakening jobs market, rising energy costs, Japan, the yen and a geopolitical oil shock are colliding at exactly the wrong time. From the 1970s and Volcker to CPI vs. PCE, shelter inflation, owners' equivalent rent and the “ghost” hiding inside year-over-year inflation math, this episode explains why the next inflation print may already be partially baked in—and why the Fed's September decision is becoming a choice between fighting prices it can't control and crushing a labor market that may already be cracking. Macroeconomics, but without pretending beef and chicken are the same thing.

Connect With ChazIn December 2006, John Vasquez attempted suicide. That is how he describes it. The person he was that day, a man drowning in opiate addiction and low self-worth, died. He considers it the beginning, not the end.Fourteen years later, the COVID pandemic shut down the gym he had built using Alex Hormozi's Gym Launch program, and he found himself sleeping on his parents' couch with two kids, back in the house he grew up in, watching his parents' same patterns around money and fear play out in real time. That was the moment he drew a line in the sand.Today Coach JV runs three seven-figure business ecosystems, has a Rockefeller Trust set up for his family for generations, and has built a massive social media following teaching financial literacy, micro and macroeconomics, and cryptocurrency education to people who were never taught any of it. In this conversation with Chaz Wolfe, Coach JV breaks down his 5-part financial framework, why Ray Dalio is the lens through which he reads the global economy, why paying yourself first is not just a strategy but a frequency shift, and how he is raising his kids to be the first generation to break the pattern for good.Key Takeaways:Drawing the line in the sand is not a motivational phrase. It is a moment when you become more committed to the pain of change than to the pain of staying the same. That specific shift is what changes the trajectory.You have to give up something to become something. And most people are addicted to their old self. The subconscious programming laid down in childhood drives adult behavior more than most people ever acknowledge.Coach JV's 5-part financial framework: Foundation, meaning rewire your belief system around money and trace where it came from. Financial Literacy, meaning understand what money actually is, how banks work, and what the Federal Reserve has done to the dollar since 1913. Discipline, meaning budgeting and asking do I need this or do I want this. Income Creation. And finally, Protection, Compounding, and Growth.The US dollar has collapsed 99 percent in purchasing power since the Federal Reserve was created in 1913. School, job, 401(k) is a strategy of hope. You are hoping the market aligns when you retire. That is not a plan.Pay yourself first every single time. Before bills. Before spending. Money goes into your freedom account first. What is left is what you live on. This changes your frame of mind and eliminates frivolous spending automatically.America is at 120 percent debt-to-income ratio. The average middle-class American needs to earn $160,000 per year to truly be middle class now. The regional banks are in a tough position. Bond yields inverted in 2023. These are not opinions. These are Ray Dalio's documented patterns.Cryptocurrency is going to move significantly on the back end of this cycle. But what goes up must come down hard. Buy the rumors, sell the news. When the mainstream is telling you to get in, you should have been out days ago.Define your principles before anything else. For Coach JV: business principles are integrity, honesty, and uncompromising belief in God. Personal principles are peace, freedom, and family structure. If anything disrupts those three, the answer is a hard no. A $10 million contract offer that disrupts family structure is still a no.Ask your son when he falls: are you hurt or are you scared? Manage what is hurt. Acknowledge the fear. Then get back up and do it again together. This is the framework Coach JV uses to rewire what he never received.Everything happening in the global economy right now is a historical pattern. It has happened before. When you understand the waves of energy, it is the greatest time in human history to build wealth for your family if you are paying attention.If you are a contractor business owner doing $1M+ and you feel stuck in the day-to-day, we built GTK for you.Through peer mastermind and 1:1 coaching, we help you:increase profitinstall real systemsbuild a team that runs the businessget your time backVisit www.gatheringthekings.com for information on how to apply.Connect with Chaz Wolfe (Host):WebsiteFacebookInstagramLinkedInYouTubeProfit Starts with Better Books!Clean books. Clear reports. Monthly bookkeeping built by business owners, for business owners.Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Support the showLike what you heard? Share this episode with a friend and leave us a review on Apple Podcasts or Spotify! Join the conversation by visiting GatheringTheKings.com and apply to connect with other high-performing entrepreneurs and their families.

Andreas Steno and Mikkel Rosenvold are back for another episode of Macro Mondays, boiling down the latest topics, from why the Fed may still be overreading inflation risks to why Donald Trump ordered a pullback on military exercises in South Korea. Plus, Andreas lays out his favorite trades for the current macro regime.

Liz Ann Sonders and Collin Martin begin this episode by analyzing the powerful role earnings are playing in driving the U.S. stock market higher and what that means for investors. Liz Ann highlights that S&P 500 earnings growth is tracking around 51% for the second quarter, an unusually strong pace outside of a post-recession recovery. Collin explains why Schwab expects a "higher-for-longer" rate environment, with short- and longer-term Treasury yields likely remaining elevated as the economy stays resilient and inflation remains above the Fed's target. Then Collin sits down with former Federal Reserve Vice Chair Dr. Richard Clarida. They discuss how the Fed thinks about inflation, labor markets, supply shocks, productivity, and AI. Clarida argues that policymakers are trying to determine whether today's inflation pressures are temporary or indicative of a higher underlying trend. He also discusses the transition to new Fed Chair Kevin Warsh, potential changes to Fed communications, and why AI could be inflationary in the near term but ultimately disinflationary through improved productivity over the next several years. On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.  If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab. This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal.  Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Currencies are speculative, very volatile and not suitable for all investors. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.  Diversification, rebalancing, and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions  ISM refers to the Institute for Supply Management. (0826-VELR) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Have a couple of softer US inflation prints taken a post-Summer Fed rate hike off the table? Did that CPI and PPI data vindicate Kevin Warsh's divisive approach to central bank communications? And what does the death of former Premier Zhu Rongji tell us about China's political economy today?Group Chief Economist Neil Shearing joins David Wilder to discuss the US inflation and rate outlook, the angst at the long end of the Treasury yield curve, and why the pace and nature of reform in China today not only pales in comparison what was happening at the turn of the century, but could threaten global economic stability.Also on the show, Deputy Chief UK Economist Ruth Gregory discusses her widely covered report on how much tax Andy Burnham could be seeking to raise in October's Budget. She explains how the potential tax increases compare with the controversial big Budget of 2024, which taxes could rise and what the impact could be on the UK economy.Related contentWhat taxes could Burnham raise to fund his policy ambitions?https://www.capitaleconomics.com/publications/uk-economics-update/what-taxes-could-burnham-raise-fund-his-policy-ambitionsCapital Economics eventshttps://www.capitaleconomics.com/events

MacroVoices Erik Townsend & Patrick Ceresna welcome, Michael Howell.  They discuss the 65-month global liquidity cycle, where we stand currently, and what comes next. https://bit.ly/3UfVKBc   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

MacroVoices Erik Townsend & Patrick Ceresna welcome, Viktor Shvets. They discuss everything from Hormuz to Inflation signals to precious metals to the k-shaped economy. https://bit.ly/4wHXdyt   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

Rule Four of Financial Physics says everything eventually rises—not every stock, not every year, but human productivity and global economic output over time. Don and Tom explain why buying the broad market is ownership in thousands of businesses, not a trip to the casino, and why international diversification matters when nobody knows which country will lead the next century.Then Kenneth asks whether a tiny slice of his emergency fund belongs in stocks. The answer is still no: emergencies tend to arrive when markets are already falling. The guys also look at using qualified charitable distributions from inherited IRAs and why smart tax planning should not let the tax tail wag the financial dog.Finally, they compare BND with TIPS and ultra-short bond funds, unpack the trade-off between price stability and durable yield, and explain why preferred stocks cannot replace the ballast in a 60/40 portfolio.00:44 AI music, a low-budget show, and big-money topics02:46 Financial Physics Rule Four: everything eventually rises04:05 Stocks are ownership, not a casino bet05:13 Macroeconomic gravity and two centuries of productivity07:45 From $48 to $90,000 of U.S. output per person08:22 Letting thousands of companies do the heavy lifting09:18 AI, global output, and a Social Security token tax11:03 Why the next century demands global diversification13:35 Should emergency-fund money ever go into stocks?19:56 Inherited IRAs and qualified charitable distributions21:40 BND versus TIPS and ultra-short bond funds26:59 Why preferred stocks are not bond substitutes29:13 Theme-song experiments and the Talking Real Money singersQuestions? Comments? Click!

Andrew Cushman shares his journey from engineering graduate to real estate powerhouse, highlighting the critical lessons learned from acquiring over 3,000 units across the Southeast. He dives into what's really happening on the ground right now, including the surprising resilience of operations in Sun Belt markets, the true impact of rising interest rates, and the risks lurking in distressed lower-end properties. You'll discover why many deals are stalling due to lenders extending and pretending, and how private debt is both a risk and an opportunity. Andrew Cushman Founder & Principal of Vantage Point Acquisitions Based in: Los Angeles Metropolitan Area Where to find them: https://www.linkedin.com/in/andrewcushmanvpa https://www.vpacq.com/ Book your free demo today at bill.com/bestever and get a $100 Amazon gift card. Visit https://malabarhillcapital.com/ for more info. Podcast production done by⁠ ⁠Outlier Audio Learn more about your ad choices. Visit megaphone.fm/adchoices

MacroVoices Erik Townsend & Patrick Ceresna welcome, Jim Bianco. They will discuss this weeks FOMC meeting. https://bit.ly/4wz7e16   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX  

In this high impact masterclass edition of The Second Act Executive, host Tawnie Wolf, mother, licensed real estate professional, former corporate executive, and author, bridges production execution with urgent macroeconomic strategy, data defense, and parental rights.Inside this episode: Technical Masterclass (Days 18–22): Complete studio workflow, multitrack WAV recording, text based transcript editing in Riverside.fm, generating AI “Magic Clips” for vertical shorts, guest etiquette, and mastering your RSS feed for true platform independence. Data Sovereignty & Defending the West: Why Palantir Technologies and CEO Alex Karp's mission to defend Western democratic values matters, and why advanced threat detection technology belongs in our public school spaces to prevent mass violence. Macroeconomics & Displaced Media: How geopolitical shifts and foreign capital pullbacks (including Chinese venture reductions in North American media since 2017) forced creators onto social algorithms, driving rage bait, troll culture, and online harassment. Parental Rights & Leadership: Overcoming digital noise, confronting former mentors turned online trolls, and taking an aggressive stand for the physical and mental safety of our children.Action Items & Homework:Connect your podcast RSS feed to Spotify and Apple Podcasts.Head over to Tawnie Wolf's official channels (YouTube, LinkedIn, Facebook, and Instagram) or Wolf Vibrations, LLC to download the Cyberbullying & Platform Safety Survey. Complete it and email it directly to your local school board or Department of Education to help protect our children! Tune in every Wednesday at 9:00 PM PST for full episodes and daily for the Lunchtime Quickie mindset shift. Remember to stay hydrated, protect your capital, and build a platform rooted in real authority!

MacroVoices Erik Townsend & Patrick Ceresna welcome, Luke Gromen. They discuss how the Strait of Hormuz remained closed for months, why crude oil prices did not respond as expected, and what may happen as the conflict re-escalates. They also cover precious metals, inflation, monetary policy, and other major macroeconomic developments. https://bit.ly/45gBPnZ    

Is capital a uniform "pool" that can be reshaped into anything, or a delicate, time-structured web of complementary pieces? Paul Cwik traces the question from Menger and Böhm-Bawerk through the great debates with J.B. Clark and Frank Knight, and shows why the answer matters enormously. Because capital is heterogeneous, a fall in consumption need not mean recession—it can mean the economy is lengthening its structure of production to build future growth, a shift the mainstream, assuming capital is homogeneous, simply cannot see.Recorded at the Mises Institute in Auburn, Alabama, on July 21, 2026.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

A better-than-expected June Consumer Price Index (CPI) report offered some welcome relief for investors concerned about persistent inflation pressures. But while the headline numbers came in below expectations, Liz Ann Sonders and Collin Martin explain why underlying inflation trends, including higher oil prices, rising costs tied to AI-related investment, and components that feed into the Fed's preferred inflation gauge, suggest the inflation story is far from over. They also discuss why macroeconomic factors such as inflation, monetary policy, and labor-market conditions remain essential inputs for portfolio decisions, even when investors are looking for more specific investment guidance. The conversation covers the Federal Reserve's outlook, what recent data means for bond investors, small-business sentiment and hiring plans, growing concerns about inflation among business owners, and the economic indicators they'll be watching in the weeks ahead. On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.  If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal.  Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk. Diversification and asset allocation do not ensure a profit and do not protect against losses in declining markets. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions  Treasury Inflation Protected Securities (TIPS) are inflation-linked securities issued by the US Government whose principal value is adjusted periodically in accordance with the rise and fall in the inflation rate. Thus, the dividend amount payable is also impacted by variations in the inflation rate, as it is based upon the principal value of the bond. It may fluctuate up or down. Repayment at maturity is guaranteed by the US Government and may be adjusted for inflation to become the greater of the original face amount at issuance or that face amount plus an adjustment for inflation. Treasury Inflation-Protected Securities are guaranteed by the US Government, but inflation-protected bond funds do not provide such a guarantee. (0726-F5V5) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MacroVoices Erik Townsend & Patrick Ceresna welcome, Dr. Anas Alhajji. They'll discuss Anas's review on how we got into this conflict and why he still believes that it was the goal of the United States to close Hormuz. https://bit.ly/4wKIgvh    

In this episode, Liz Ann Sonders and Collin Martin discuss what may be one of the most important long-term shifts facing investors: the end of the "Great Moderation" Era, the roughly 25-year period characterized by globalization, low inflation, relatively stable economic growth, and favorable conditions for both stocks and bonds. Liz Ann argues that investors may be entering a more "Temperamental" Era marked by greater inflation volatility, shifting supply chains, geopolitical disruptions, and a different relationship between bond yields and stock prices.  The conversation explores how globalization, abundant labor, cheap goods, and plentiful energy helped suppress inflation for decades—and why those forces may be fading. Collin then examines the bond market, highlighting why Treasury yields remain elevated even as oil prices have retreated from recent highs. Inflation pressures beyond energy, resilient economic growth, and expectations for Federal Reserve policy are helping keep yields high. Finally, Collin and Liz Ann preview earnings season and next week's economic calendar.  Visit Schwab.com to read the article by Liz Ann Sonders and Kevin Gordon titled "Great Moderation Era: Drift(ing) Away." On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.  If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal.  Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk. Diversification and asset allocation do not ensure a profit and do not protect against losses in declining markets. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions  A hyperscaler is a large-scale cloud service provider that offers vast computing, storage, and networking resources through a distributed infrastructure of interconnected servers and software. (0726-B8XL) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MacroVoices Erik Townsend & Patrick Ceresna welcome, Adam Parker. They discuss the U.S equity market. https://bit.ly/4aK7d1u        

MacroVoices Erik Townsend & Patrick Ceresna welcome, Rory Johnston. They discuss the Hormuz crisis, China's role in tempering global oil demand, and the outlook for what comes next as negotiations evolve in the middle east. https://bit.ly/4eIFMaO    

MacroVoices Erik Townsend & Patrick Ceresna welcome, Lyn Alden. They discuss the Hormuz crisis, Fed policy under new leadership, budget deficits, the AI trade, and AI's mounting demands on energy markets. https://bit.ly/4oJoM7q    

MacroVoices Erik Townsend & Patrick Ceresna welcome, Brent Johnson. They'll discuss the Iran deal, Brent's outlook for the U.S. dollar, and much more. https://bit.ly/4xRl8ga      

MacroVoices Erik Townsend & Patrick Ceresna welcome, Larry McDonald. They discuss what's driven this sell-off, whether the Iran conflict had anything to do with it, and where the opportunities lie in today's markets. https://bit.ly/4ebDAHe    

MacroVoices Erik Townsend & Patrick Ceresna welcome, Michael Every & Rory Johnston. They discuss all things Iran from geopolitics to inflation outlook to what it means for China to President Trump and Secretary Bessent's stablecoin statecraft ambitions. https://bit.ly/3RQ4ixB