Liquidity may be sending a very different signal than most investors think, challenging the dominant narrative around growth, rates, and risk.
We sit down with Michael Howell of CrossBorder Capital, a leading voice on global liquidity, to unpack where we are in the cycle and why his framework diverges from consensus views on markets and the economy.
We explore the liquidity vs. business cycle divide, yield curve dynamics, Treasury-driven liquidity, rising commodities, and why all signals may be pointing toward a late-cycle shift. Enjoy!
TIMESTAMPS:
00:00 Intro
02:31 Global Liquidity Turning Lower
06:24 Liquidity Cycle vs Economy
11:29 Recession Fears vs Data
17:28 Treasury Stimulus and Buybacks
23:40 Why Bond Volatility Matters
31:56 Warsh and the Next Regime
39:29 What Interest Rates Really Mean
47:13 Positioning for Turbulence
58:08 Where to Follow Michael
FOLLOW MICHAEL
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DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
