This is Macro Voices, 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 Sarrezna.

Macro Voices Episode 368 was produced on March 23rd, 2023. I'm Eric Townsend.

This episode of Macro Voices was made possible by respect energy, a leading European trader

of renewable energy and a one-stop shop for all green energy investors.

Nomura's Charlie McGelligat returns as this week's feature interview guest. We'll

discuss the formative banking crisis, monetary policy, including yesterday's 25 basis point

hike into the formative banking crisis, how to trade the Fed, boxing itself into a corner,

zero-data exploration options, abysmal performance of commodity trend funds in 2023, and much more.

Macro Voices will be released a day early next week on Wednesday, March 29th, to accommodate

travel schedules. So be sure to tune in next Wednesday afternoon instead of Thursday.

And I'm Patrick Sarrezna with the Macro Scoreboard Week Over Week as of the close of Wednesday,

March 23rd, 2023. The S&P 500 was up 1.1 percent closing at 3970. What is noteworthy

was the sharp reversal off the highs in the hours post the FOMC. Also worth mentioning

is the relative strength of the NASDAQ continuing, which was up 2.7 percent week over a week.

We'll have the charts on this in the post game. The US Dollar index down 2.1 percent closing

at 102.53 with a key breakdown on Powell's comments. The May WTI Crude Oil contract

up 4.7 percent closing at 70.90. We will look at that chart and Eric will have the EIA inventory

data in the post game segment. Gold was up 2.5 percent closing at 1979. The key 2000 round

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