Tony Greer on Oil's Surge, Liquidity Bonanzas, and "Inflation Hedge Paradise": DB- Jan5,2021

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

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🗓️ 5 January 2021

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real Vision senior editor Ash Bennington welcomes back Tony Greer of TG Macro to share his thoughts on the first rally of the new year. Tony arrives in high spirits as the eye-popping gains of crude oil, iron ore, and nickel authenticate his bullish-commodities thesis. He eyes the agricultural grain commodities such as wheat and corn for entry points and tells Ash why the ISM Manufacturing reading of 60.7 shows him why inflation isn’t just on the horizon but is in fact already here. Ash provides context on Chinese demand for commodities and Saudi Arabia’s unilateral output cut of oil. Lastly, Tony broadens his gaze to the macro picture, declaring that the ultra-dovish policies of the Federal Reserve are creating a “liquidity bonanza” that is rendering commodities an “inflation hedge paradise.” In the intro, Real Vision’s Haley Draznin reports on tonight’s two runoff senate elections in Georgia and their potential market impact. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Show The old is always is 18 and 5 years old
0:15.0	30 years old, lost to men and culture in happen and
0:19.0	be right for a hair house for the wrongs.
0:22.0	Fly bake. No,ir I, then we've got the next,
0:25.0	off Lufthans group punk careers. Welcome to Real Vision. It's Tuesday, January 5th, 2021, just after 2 p.m. in New York. This is the Real Vision Daily Briefing. I'm Ash Bennington. It's
0:46.8	T.G Tuesday. I'm joined shortly by Tony Greer. But first with the day's stories,
0:52.0	Haley Drasnan.
0:54.0	Hey Ash, let's get to it.
0:55.9	Tuesday is an important day for markets.
0:58.8	It's election day in Georgia again.
1:01.8	Today's two runoff races will determine which party controls the U.S. Senate,
1:07.1	and the markets are paying close attention. On Monday, equity suffered their worst start to a year since 2016, but today stocks treated
1:16.4	higher, retracing some of yesterday's sell-off.
1:20.0	The question is, are the markets anticipating a divided Congress?
1:24.7	So that means one Republican would have to win,
1:27.8	and we know historically markets perform better
1:30.8	in a divided Congress or when the two houses of Congress are occupied by
1:35.3	different parties. Right now the GOP Senate margin is 50-48 if both Democrats
1:41.8	win something that hasn't been done in the Senate in two decades, it would shift the balance of power in the Senate to an even 50 seats for each party.
1:52.0	Vice President-elect Kamala Harris would then serve as the
1:55.9	tiebreaker once she's sworn in. Democrat John Osoff is running against
2:01.0	Republican senator David Purdue and Democrat
	...

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