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 527 was produced on April 9th,

2026. I'm Eric Townsend. We've got another Macrovoices, episode 527 was produced on April 9th, 2026. I'm Eric Townsend.

We've got another Macrovoices double header lined up for you this week.

Garing and Rosenswag co-founder Adam Rosenzweig returns is this week's headliner

for a discussion on what comes next for crude oil, food and fertilizer, uranium, and gold after the Iran conflict.

Then for our bonus coverage of the Iran conflict, Bianco Research founder, Jim Bianco,

returns to weigh in on whether there really ever was a ceasefire. What happens next if there is

and what happens if there isn't a meaningful ceasefire,

as well as the Fed's reaction to all of this and the longer-term outlook for inflation.

Then be sure to stay tuned for our post-game segment when Patrick's Trade of the Week will take

a look at whether the ceasefire has really reduced right-tail risk in crude oil and how to hedge it. And then, of course,

we'll have our usual coverage on all the markets with Patrick's post-game chart deck.

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

April 8, 2006. The SMP 500 index up 315 basis points, trading at 6782.

A substantial squeeze higher in the markets on short-term geopolitical de-escalation.

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

The U.S. dollar index down 50 basis points, trading at 99.05.

The May WTI crude oil contract down 570 basis points to 9441, crude oil dropping over 20% peak

to trough in the last 24 hours.

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