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 519 was produced on February 12th,

2026. I'm Eric Townsend, and Macro Voices is now 10 years old.

I'd like to thank our loyal listeners for your support during our first decade of Macro Voices.

I've met some amazing people as a result of producing this podcast every week, and we're working behind the scenes to make the show even better.

Please stay tuned in coming weeks for announcements about plans we're making to make macro voices the absolute best that it can be.

Hunter Investments founder and fund manager Alex Garevich returns as this week's feature interview guest.

We'll discuss fixed income, energy, precious metals, the

Japanese yen, and Alex's new book just released on Amazon. Then be sure to stay tuned for our

postgame segment after the feature interview when Patrick's trade of the week is a Japanese

yen trade based on Alex's interview. And as always, we'll give you our latest perspectives on all the major

markets. And I'm Patrick Serresna with the macro scoreboard week over week as of the close of Wednesday,

February 11, 2026. The S&P 500 up 86 basis points trading at 6941, supports held, and the market is back into its multi-month trade range.

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

The U.S. dollar index down 87 basis points to 9679.

Price action continues to be distributive.

The March WTI crude oil contract down down 78 basis points to 6463, continues to consolidate

at multi-month highs.

The April Arbob gasoline up 46 basis points, trading at 220, the April gold contract, up 299 basis points, trading at 5,098, bouncing at $220. The April gold contract up $299 basis points, trading at $5,098,

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