MacroVoices #511 Robert Kahn: Geopolitical Outlook For 2026

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 18 December 2025

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

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Summary

MacroVoices Erik Townsend & Patrick Ceresna welcome, Robert Kahn. They will discuss all things geopolitics, from Tariffs to mid-term elections to the price of crude oil to who will be the next Fed chair https://bit.ly/4s9t21C 🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/492eOqi ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag 🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna 🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/

Transcript

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0:00.0	This is Macro Voices, the free weekly financial podcast targeting professional finance, high net worth individuals, family offices, and other sophisticated investors.
0:18.8	Macrovoices is all about the brightest minds in the world of finance
0:22.6	and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are your
0:29.1	hosts, Eric Townsend and Patrick Suresna. Macrovoices Episode 511 was produced on December 18th,
0:36.3	2025. I'm Eric Townsend.
0:39.0	Eurasia Group Global MacroChief Robert Kahn returns as this week's feature interview guest.
0:43.7	Robert and I will discuss all things geopolitics, from tariffs to midterm elections, to the price of crude oil, to who will be the next Fed share, and to expect from monetary policy to the Ukraine-Russia
0:55.6	conflict to China-U.S. Relations. Macrovoices will be released a day early on Wednesdays for
1:02.1	the remaining two episodes in calendar year 2025. Next week we'll release a regular format show on
1:08.5	Wednesday 24th or Christmas Eve, and it'll be a good one. My guest
1:12.9	will be Rosenberg Research founder, David Rosenberg. Then in keeping with longstanding macrovoices
1:18.4	tradition, in order to give our production team time with their families over the holidays,
1:23.0	we'll release a pre-recorded holiday special episode I think you'll really enjoy the following Wednesday
1:29.1	on New Year's Eve. Then we'll return to our regular show format after the holidays on January 8th,
1:35.3	2026. And I'm Patrick Seresna with the macro scoreboard week over week as of the close of Wednesday,
1:41.5	December 17, 2025. The S&P 500 index down 240 basis points to 6721.
1:49.7	The stress on the AI stocks dragging on the index will take a closer look at that chart and the key technical levels to watch in our postgame segment.
1:58.1	The US dollar index down 23 basis points trading to 9840 the february
2:04.3	w t i crude oil contract down 427 basis points trading at 5581 break of oil for a direct retest
2:14.1	of the year lows the february arbob gasoline down 449 basis points, training at
2:20.4	170. The February gold contract up 360 basis points, trading at 43-76, testing the previous highs,
2:29.6	teasing a new breakout. March copper, trading up 150 basis points, trading at 543. The December uranium
	...

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