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 376 was produced on May 18, 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.

Variant perception CEO Tion Young returns this week's feature interview guest.

We'll discuss the long-awaited US recession and the final flush in US equity markets,

which Tion says is still to come. Tion will also share a non-consensus view on gold,

which I think you'll find very interesting.

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

May 17, 2023. The S&P 500 was up 50 basis points closing at 41-71. We'll take a closer look

at that chart and the key technical levels to watch in the post-game segment. The US dollar index

up 140 basis points closing at 10290. The dollar has clearly started to strengthen off the lows.

The July WTI crude oil contract up 40 basis points closing at 72-83 seems to be settling down

after a very volatile few weeks. We'll look at that chart and Eric will have the EIA inventory data

in the post-game segment. Gold down 260 basis points closing at 1985. The price taking a breather

after testing all-time highs. Copper down 230 basis points to 375. Dr. Copper continues to show

short-term weakness and uranium up 80 basis points to 53-75 and continues to hold the breakout

and press to highs of the year. The US 10-year treasure yield up 13 basis points closing at 357 points.

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