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 488 was produced on July 10th, 2025. I'm Eric Townsend.

Lynn Alden returns as this week's feature interview guest. Lynn says we should run our portfolios hot,

because this is a time when fiscal rather than monetary policy will dominate market outcomes.

And Lynn thinks fiscal policy favors more upside for equity markets.

She'll explain why in full detail in this week's feature interview. And I'm Patrick Suresna with the

macro scoreboard week over week as of the close of Wednesday, July 9th, 2025. The S&P 500 index

up 58 basis points trading at 6263.

Markets continue to hold up along 52 week highs. We'll take a closer look at that chart

and the key technical levels to watch in the postgame segment. The US dollar index up 72 basis

points trading at 9747.

While we're seeing consolidations at the lows, the primary downtrend remains intact.

The August WTI crude oil contract up 138 basis points trading at 6838.

So far, oil is edging higher and maintaining above the key moving averages the august

arbobs gasoline up 330 basis points trading at 219 the august gold contract down 116 basis points trading at 3321

continues to consolidate along its June lows. The September

copper contract up 538 basis points trading to 548. Big tariff-driven surge higher sending prices to

old-time highs on the Comax. Uranium down 696 basis points to 7215, giving back most of the gains from last month,

and the U.S. 10-year treasury yield up nine basis points, trading at 435.

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