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 Sarasna.

Macro Voices Episode 191 was recorded on October 31, 2019. I'm Eric Townsend, happy Halloween.

This episode of Macro Voices is brought to you by top traders on plug.com, which happens

to be my own favorite podcast when it comes to quant and rules based investing.

My feature interview guest this week is hedge fund manager Alex Gravich, who couldn't

be more bullish on gold. Alex is known as a fixed income guru, so we'll focus much

of the interview on interest rates and bond yields, both in the United States and around

the globe. We'll also take a deep dive on the US dollar and the euro in the wake of Christine

Lagarde taking the helm of the ECB from Mario Draghi this week. And be sure to stay tuned

after the feature interview for our post game segment. Patrick has compiled another of

his famous post game chart books and will have extended equity market coverage as well

as a number of other discussions. And I'm Patrick Sarasna. Now Eric, let's jump

into the S&P 500. We break to 52 week new highs on the auction, all time highs on the

market. And we kind of pop into the FOMC and we're giving it all back here today, at

least FOMC pop. What's your take on the market? Doesn't surprise me at all that we broke

to new all time highs. It doesn't make sense to me. But if you look at the way this market

has been trading, it's been looking for an excuse to move higher, even though the fundamentals

in my opinion don't really support it. I think that the next big thing, we're exactly

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