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 530 was produced on April 30th,

2026. I'm Eric Townsend.

Peace negotiations collapsed over the weekend after President Trump canceled Vance and Whitkoff's negotiating trip,

saying it wasn't worth the 18-hour flight and igniting an explosive spike up in crude oil prices from the Sunday evening futures

open, with front month WTI now over $110 and spot Brent over $120 at recording time, bringing rise

to serious concerns that the global economy could soon be starved of energy, risking a global

recession. And the S&P 500 stock index rallied to fresh new all-time highs on the news.

Tress's chief economist Daniel Lecayi returns as this week's feature interview guest to help

diagnose why the stock market rallied to fresh highs following news that, frankly, legitimately threatens the entire global economy.

We'll also discuss secular inflation, precious metals, the greater risk to Europe from the energy crisis, and much more.

Then be sure to stay tuned for our post postgame segment when Patrick's trade of the week

will explore a relative value setup designed to take advantage of potential divergence within

global financials.

And then, of course, we'll have our usual coverage of all the markets with Patrick's

postgame chart deck.

The feature interview was taped early Monday morning before news broke that the United Arab

Emirates was pulling out of OPEC. So I'll cover that news in the postgame crude oil segment.

And I'm Patrick Sirezno with the macro scoreboard week over week as of the close of Wednesday, April 29,

...