Another Thematic Shift

In this podcast, Tony Greer and Jared Dillian break down the escalating conflict in Iran, rising Treasury yields, SpaceX's post-IPO weakness, and why they believe the biggest opportunities are shifting from semiconductors back into energy, oil, and gold. They discuss why markets may be mispricing inflation, the Fed's next move, S&P 500 technicals, and whether the recent tech leadership is beginning to crack under mounting macro pressure. Tony, Jared, and Matt continue their annual music journey, revisiting the cultural moments that defined the era while blending market insight with the conversations that make Macro Dirt more than just another investing podcast. The conversation dives into shorting semiconductors, fading the SpaceX IPO, gold miners' surprising underperformance despite record gold prices, and the psychological battle of trading headline-driven markets. They also debate whether today's geopolitical backdrop could become another prolonged conflict, what it means for commodities, and why traders should prepare for a potential downside break in equities. ------------------------------------------------------------- TG Macro Conference is BACK; book your slots Now - ⁠https://tgmacro.com/conference/⁠ ------------------------------------------------------------- Tony's Newsletter - https://tgmacro.com/products/ Jared's Newsletter - https://www.dailydirtnap.com/subscribe/ Subscribe to the DUAL SUB (Tony + Jared) - https://tgmacro.com/macro-dirt/