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 your bearish, no holds

barred. Now here are your hosts, Eric Townsend and Patrick Sarrezna.

Macro Voices Episode 183 was recorded on September 5, 2019. I'm Eric Townsend. This episode

of Macro Voices is brought to you by top traders on blog.com, the only podcast dedicated

to quant and rules based investing, which I highly recommend. Grant Williams, author of

the renowned things that make you go, hmm, newsletter, is back with us this week for a fantastic

feature interview. We'll discuss negative yielding sovereign debt, gold unicorn stocks, and

much more. And be sure to stay tuned for our post game segment after the feature interview.

Patrick Sarrezna is back from holiday and has another of his famous post game chart books

all wrapped up and ready to go. And I'm Patrick Sarrezna. Now Eric, the S&P 500 literally

spent the entire month chopping around in that consolidation. And then soon as September

comes, we get a little bit of a short squeeze higher. Do you think this is for real?

Well, I think that the squeeze higher is really motivated by the de-escalation of political

tensions in the last 48 hours. And I think the question is whether there's follow through.

My view is definitely still that we're headed for a global growth recession. That view hasn't

changed. The bond market, although it's backing up a little bit, just a few basis points this

week, basically seems to agree with me. But stocks are not taking that cue. I eventually

think that President Trump and she will kiss and make up. And that hasn't quite happened

yet. But when they do, it won't surprise me at all if that takes us to new all-time highs

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