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 297 was recorded on November 11, 2021. I'm Eric Townsend. This episode

is brought to you by ABAC's technologies, pioneering the design of smarter markets that

better serve the needs of both market participants and society as a whole. And by escrow.com, the

world's most secure online payment system from a counterparty risk perspective because

the funds sit in escrow. Saxobank commodity strategy chief Ola Hansen returns as this

week's feature interview guest. We'll discuss the outlook for commodities with the macro

backdrop of secular inflation, which Ola sees on the near horizon, including a discussion

of whether gold, copper, or other commodities will be the best inflation hedges for what

lies ahead.

Then be sure to stay tuned for our post game segment when Patrick's chart deck is titled

Tour of the commodity markets. And I'm Patrick Sarasna, Eric. Let's jump straight to

talking markets here. S&P 500 had a run where almost for a month it was going up almost

every single day. We cleared 4700 on the upside. And here we finally get the market pausing.

A little bit of a thing that I wouldn't even want to call this market correction because

it's just not deep enough. But finally, some maybe the inflation numbers kind of spooked

the market a little bit. What's your take? Is there more upside for the market from here?

I think there's plenty more upside. The thing that I find most interesting about this

...