This is Macro Voices with hedge fund manager Eric Townsend, the free weekly financial

podcast targeting professional finance, high net worth individuals, family offices, and

other sophisticated investors. Macro Voices is all about the brightest minds in the world

of finance and macroeconomics telling it like it is. Bullish or bearish. No holds barred.

Now here are your hosts, Eric Townsend and Patrick Sarasna.

Macro Voices episode 174 was pre-recorded on July 3rd, 2019 for release on July 4th, 2019,

when fireworks will celebrate. Independent, no, wait a minute, it's 3,000 on the S&P

that those fireworks are celebrating. In any case, I'm Eric Townsend. This episode

of Macro Voices is brought to you by top traders on plug.com, the leading podcast when it comes

to systematic trading and investing. Due to the US holiday, our market commentary will only

be current through noon on Wednesday, July 3rd. Author John Netto joins me as this week's

feature interview guest. We'll discuss current market drivers and then move on to some bigger

picture topics, which John covers in his book, Global Macro Edge. We'll have an abbreviated

post game segment this week with a quick chart book update on a number of different charts,

particularly the S&P 500, Holy Cow folks, 3,000 on the S&P. Who would have seen that coming?

Oh yeah, we did. And I'm Patrick, so Eric, let's get right into that S&P. You've referenced it

now twice the 3,000 level. We're right on the cusp of it. Obviously a really bullish reaction

after the G20. What's your take on all of this? Well, you know, I've been thinking, Patrick, once

that China deal is done, and I'm convinced we're going to get some kind of China deal. I don't

know if it's going to be a good, bad or indifferent one, but we're going to get some kind of deal.

Both leaders have too much at stake to let this fall apart to just go to no deal. And I think we're

going to get a rate cut. Was it 25 or 50 basis points? Well, we'll see what happens. Okay, after

...