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 535 was produced on June 4th,

2026. I'm Eric Townsend. Another week has passed and the

Strait of Hormuz is still effectively closed. And I don't think we're any closer to a deal than we were a week ago.

In fact, President Trump even made the comment that the U.S. blockade of Iran could be lifted as soon as Labor Day. As soon as Labor Day,

that's 95 days from now, more than a quarter of a year away. The only good news I can see on the

geopolitical front is that the situation has earned you another macrovoices double header. Robobank

strategist Michael Everie is our headliner this week, and Michael and I will

discuss all things Iran from geopolitics to the inflation outlook to what it means for China

to President Trump and Secretary Besant's stablecoin statecraft ambitions.

Then commodity context founder Rory Johnston returns to go deep on crude oil

delivery logistics from a detailed look at the latest flow stats to China's curious inventory

and import statistics that don't frankly seem to add up and why oil prices haven't reacted nearly as much as so many analysts,

including Rory and I, expected them to.

Then be sure to stay tuned for our postgame segment when Patrick's Trade of the Week

will explore a setup built around Michael Everie's view that economic policy is shifting

toward economic statecraft, with a greater focus on

rebuilding the physical economy and strategic industrial capacity. Then we'll have our usual

coverage of all the markets with Patrick's post-game chart dick. And I'm Patrick Serresna with

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