This is Macro Voices, 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 Suresna. Macrovoices episode 468 was produced on February 20th, 2025.

I'm Eric Townsend.

42 macro founder Darius Dale returns as this week's feature interview guest.

Darius is a regular Macro Voices listener, and he requested that we start his interview this

week with Darius's reactions to last week's interview with

Jim Bianco. Darius thinks Jim's on to something important with the Mar-a-Lago Accord hypothesis,

and I agree. Then we'll dive into the data-intensive slide deck that Darius is best known for

and talk about everything from sticky inflation to the growth outlook.

And I'm Patrick Suresna with the macro scoreboard week over week as of the close of Wednesday, February 19, 2025.

The S&P 500 index up 152 basis points trading at 6144, market trading along old-time highs, asking the question if next week we see a

bullish breakout. We will take a closer look at that chart and the key technical levels to watch

in the post-game segment. The US dollar index down 67 basis points, trading out 10716, remains in

consolidation, but the bigger question question is the bull market still

intact or are we seeing a top the april w t i crude oil contract up 121 basis points training at

7210 the april arbob gasoline up 43 basis points trading at 232 the april gold contract up 43 basis points, trading at 232, the April gold contract, up 27 basis points,

training at 2936, working all-time new highs each week, asking the question, will we see

3,000 soon? Copper, down 298 basis points, training at 456, uranium down 397 basis points to 6530,

the U.S. 10-year Treasury yield down 10 basis points training at 452,

and the key news to watch this Friday is the Flash Manufacturing and Services PMIs,

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