Blockworks' macro show, hosted by Felix Jauvin. Two formats: a long-form interview where Felix interviews one macro investor, economist, or crypto expert; and the Weekly Roundup, a panel of Felix with regulars Quinn Thompson and Tyler Neville trading views on rates, the dollar, gold, commodities, equities, and crypto. Each call is attributed to the person who actually holds the conviction (host, panelist, or guest).
The dollar keeps grinding higher as rate differentials favor US carry and hikes get priced in.
Bitcoin ran out of narratives, so the next bull run may not come for a really long time
New Fed chair's hawkish debut is theater; he turns dovish and rates stay unchanged into December.
Gold's debasement rally is exhausted; sentiment has capitulated and the metal follows the dollar down.
AI and semis are a bubble cracking; sell the bounces in tech and Mag 7 as CapEx cuts spread
Gold is washed out while real yields peak; the fade-the-hawkishness trade favors gold over tech
Bitcoin bounces once the biggest seller steps aside; peak-bearish sentiment sets up a squeeze
MicroStrategy is peak-bearish; the last bear risks a nasty squeeze even if the story isn't fixed
Long-end Treasuries drift higher in yield over months as supply and term premium return
Short end of the Treasury curve sells off first as Warsh kills the Fed put and stays hawkish
Defensive value sectors beat long-duration tech as muddied Fed regime favors short duration equities
Bitcoin miners are flipping power to AI for 10-year billion-dollar deals as electricity costs rise
Money leaves crowded mega-cap tech and chases small caps as new leaders, lifting the Russell 2000.
Old economy industrials are making new highs as capital rotates out of high-flyers into real stuff
Fed nears end of tightening with a hawkish hold, not hikes, so the front end of rates stops rising
Global liquidity draining, dollar breaking out higher as capital flees into US assets
Tightening global liquidity flips 60/40 math, boomers get paid to own bonds again
Money rotating out of hyperscalers into AI bottleneck stocks, those rip while scalers lag
No calls extracted yet — pending review.
No calls extracted yet — pending review.
