Global Macro Update

Hosted by Mauldin Economics

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Episodes

111

Latest episode

Aug 2026

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EN-US

About the show

What's really driving US and world events? What are the real motives for Putin's and Xi Jinping's actions? How will the latest crisis affect your personal life and investments? Global Macro Update with Mauldin Economics Publisher Ed D'Agostino is a deep dive into current macroeconomic world affairs—from black-swan events to the chess moves of global leaders and market makers. Every week, Ed interviews top experts in geopolitics, economics, finance, and industry to deliver their inside scoops straight to your doorstep.

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August 7, 202622 min

The Fed's "72D Chess" Playbook

A hedge fund nearly blew up in a single week—not because of a bad bet, but because of leverage. And that's a problem the US government knows well. This week, Jared Dillian joins Ed D'Agostino to unpack what higher rates mean for America's debt, Japan, and the yen; why he's still one of the last bond bulls standing; and why he thinks the real tech bear market begins the day OpenAI files its S-1. Plus, Jared's new book, The Awesome Portfolio—a smarter, lower-stress way to save for retirement.

July 20, 202633 min

The Biggest Misconception in Wealth Creation

Barry Habib, CEO of MBS Highway and four-time winner of Zillow's Crystal Ball Award, joins Ed D'Agostino to answer a question that causes a lot of pushback: Is housing really harder now than it was for previous generations? Yes—and also no. Barry makes the case that 45% of first-time buyers are sitting out over a down payment myth, walks the math on why a homeowner's net worth is 44 times a renter's, and explains why mortgage rates from here depend less on the Fed than on the price of oil.

March 27, 202644 min

Global Liquidity, Debt, and the Four Horsemen

Michael Howell of GL Indexes and Capital Wars joins Ed D'Agostino to explain how global liquidity is being drained by four converging forces—central bank tightening, surging oil, a rising dollar, and spiking bond volatility—just as a massive wall of COVID-era debt comes due for refinancing. He makes the case that the bull market is likely over, the traditional 60/40 portfolio is breaking down, and where investors should be looking.

March 13, 202642 min

The New "Hemispheric Doctrine"

Geopolitical strategist Jacob Shapiro breaks down the long-term implications of the US-Israel military campaign against Iran. Recorded in the middle of extraordinary oil price swings and a Strait of Hormuz disruption, the conversation moves beyond the daily headlines to explore what this conflict means for the Gulf states' ambitions as global financial hubs, the vulnerability of critical energy chokepoints, and the accelerating shift toward a multipolar world.

March 6, 202644 min

Double the Return with Lower Volatility

Eric Fine, an emerging markets bond portfolio manager at VanEck, discusses how EM bonds currently yield roughly double what you get in developed markets at lower volatility. And yet, almost nobody owns them. He also unpacks how Middle East tensions are creating winners among oil exporters, why the dollar will slowly share its reserve status, and what 13 years of outperformance says about where fixed income is heading.

February 27, 202628 min

Bonds Don't Lie

Yields have every reason to go up—and they're not. Neil Dutta, Head of Economic Research at Renaissance Macro, joins Global Macro Update to explain what that signal means and why he's more cautious on the economy than the current consensus. Neil was among the few against the 2022 recession narrative and was proven right. Now he's watching the same four indicators, and the conclusion has flipped. Plus: tariffs, AI and the labor market, and a candid take on the Kevin Warsh Fed chair nomination.

February 20, 202637 min

Why Everyone Was Wrong About the Global Oil Glut

Jan Stuart, one of the sharpest oil minds on Wall Street and global energy strategist at Piper Sandler, cuts through the headlines for a wide-ranging conversation on the state of global oil markets heading into 2026. Is there really an oil glut? What is China doing with all that crude? And is the US shale boom finally running out of steam? Jan answers all… and more.

February 13, 202643 min

Emerging Markets Are En Vogue

Gavekal CEO Louis Gave is here this week to discuss emerging markets, China's manufacturing edge, Japanese bond yields, and the broken relationship between Canada and the US. If you're discovering emerging markets for the first time (or think you already understand them), this conversation is for you.

February 6, 202627 min

The GeoMacro Era Is Here

Marko Papic discusses the evolving landscape of GeoMacro analysis, emphasizing the integration of political and geopolitical factors into investment strategies. He highlights the rapid changes in market dynamics, the implications of dollar debasement, and the shifting focus of investors toward global opportunities, particularly in Europe. Papic also explores the structural reforms and economic potential within Europe, as well as the importance of defense spending in the current geopolitical climate.

January 23, 202634 min

The Great Geopolitical Re-Anchoring

George Friedman of Geopolitical Futures discusses the shifting global order in this essential conversation. He explains why the world is "re-anchoring" away from the Cold War framework, how Russia's failure in Ukraine has ended its status as a global power, and why the US-China relationship is now the defining geopolitical dynamic of our era.

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More Business podcasts

Global Macro Update

About the show

Listen to episodes

The Fed's "72D Chess" Playbook

The Biggest Misconception in Wealth Creation

Global Liquidity, Debt, and the Four Horsemen

The New "Hemispheric Doctrine"

Double the Return with Lower Volatility

Bonds Don't Lie

Why Everyone Was Wrong About the Global Oil Glut

Emerging Markets Are En Vogue

The GeoMacro Era Is Here

The Great Geopolitical Re-Anchoring

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