This is MacroVoices, the free weekly financial podcast targeting professional finance, high

net worth individuals, family offices, and other sophisticated investors. MacroVoices

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 Ceresna. MacroVoices episode 397 was produced on October 12, 2023. I'm Eric

Townsend. Hante Investments Fund Manager, Alex Garevich returns as this week's feature

interview guest. We'll discuss the reasons Alex is still committed to the long duration

trade, at least in the long term, and why that trade hasn't been performing so much recently

in the short term. We'll also discuss the longer term crude oil market outlook.

And I'm Patrick Ceresna with the Macro scoreboard week over week as of the close of Wednesday,

October 11, 2023. The S&P 500 December futures were up 261 basis points closing at

44.09. Markets are finally mean reverting some of the previous week's very oversold

state. We'll take a look at that chart and the technical levels to watch in the postgame

segment. The US dollar index down 98 basis points to 105 spot 72. The dollar has put

in a short term swing high and is now consolidating November WTI crude oil contract down 87 basis

points closing at 83.49. We'll take a look at that chart and the postgame with Eric,

the November, our Bob gasoline futures up 45 basis points to 221 prices settling down

after last week's volatility. The December gold contract up 283 basis points closing at 1887,

quickly retracing 50% of the losses from their September weakness, copper up 56 basis points

to 361 uranium down 157 basis points to 69 dollars. Even the US 10 year treasure yield down

18 basis points closing at 456 yields sharply reverting the very strong advance from September.

The key news to watch this week is that University of Michigan consumer sentiment number and next

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