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 377 was produced on May 25, 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.

Tresses Chief Economist Daniel LaCoye returns as this week's feature interview guest.

Daniel says we're on the road to stagflation, but there will be some bumps and twists in the

road before we get there. We'll discuss the European macroeconomic situation, where markets

and the economy are headed in the second half of 2023, China and Taiwan, the emergent

BRICS currency system and much more.

And I am Patrick Sarrezna with the Macro Scoreboard Week over week as of the close of Wednesday,

May 25, 2023. The S&P 500 was down 108 basis points closing at 4126. 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 99 basis points to 10388. The dollar continues to strengthen off of those

lows. The July WTI Crude Oil contract, up 207 basis points to 7434. We will look at

that chart and Eric will have the EIA inventory data in the post-game segment. Goal down 101

basis points to 1965. Copper down 507 basis points to 356. Dr. Copper continues to show short-term

weakness. Uranium, up 84 basis points to 5420, continues to hold the breakout and press

to new highs of the year. The US 10-year treasury yielded up 18 basis points closing at

...