transcript
show notes
RenMac is joined this week by Kevin Muir, author of The Macro Tourist and co-host of The Market Huddle podcast to discuss why the Fed has run out of room to move before the midterms and what that means for bonds, gold, and the AI trade. The team explores why rising yields are a rational response to global deficits and the largest infrastructure build-out since the 1850s, why the People's Bank of China — not the Treasury — is the real driver of gold, and why the hyperscaler capex boom looks more like an earnings bubble than a price bubble. They also cover Bessent's buyback operations, widening credit spreads, the momentum unwind, tariffs, and Jackson Hole.
