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 521 was produced on February 25, 26. I'm Eric Townsend.

Carlisle Group partner and former Goldman Sachs Commodities Chief, Jeff Curry returns as this

week's feature interview guest. Jeff and I will discuss the commodity bull market, why

metals are outperforming almost everything else, why Jeff says they'll continue to outperform hydrogons and other things that are tied to affordability,

energy demand from AI and data centers, precious metals, China stockpiling commodities, and much more.

Then be sure to stay tuned for our postgame segment after the feature interview when Patrick's

trade of the week focuses on a precious metals long built around the sanctions, de-dollarization,

and hoarding theme. And as always, we'll give you our latest perspective on all the major markets.

And now I'm Patrick Soresna with the macro scoreboard week over week as of the close of Wednesday, February 25th, 2026.

The SMP 500 index up 94 basis points to 6946.

It remains in the center of a multi-month trade range.

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

The US dollar index down eight basis points, trading at 9764.

The April WTI crude oil contract up 57 basis points, trading at 6542.

The April Arbob gasoline up 227 basis points, trading two and a quarter April gold contract up

433 basis points training at 52 26 gold continues recovering from that short-term selling

pressure the May copper contract up 310 basis points training at 598 that March uranium contract down 113 basis points

training at 8775 and the US 10 year treasury yield down three basis points trading at 405 the

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