Real Vision: Finance & Investing Is Macro Regime Shift Underway? ft. Andreas Steno & Mikkel Rosenvold
19 snips
Feb 9, 2026 They unpack a potential macro regime shift tied to Fed-Treasury dynamics and what a Kevin Warsh-led Fed could mean. Discussion covers a capex-driven cyclical upswing and rotation from precious metals into real-economy sectors. Political motives around crypto and midterm optics get debated. Geopolitical risk is highlighted with Iran developments and possible market-moving escalations.
AI Snips
Chapters
Transcript
Episode notes
Volatility Spills Across Asset Classes
- Volatility in one asset class mechanically raises perceived risk across portfolios and forces de-risking.
- Andreas Steno Larsen explains that a silver shock pushed pullbacks across tech and other consensus trades via risk-model repricing.
Fed Views Mirror Political Color
- Kevin Walsh's public stance shifts with the party in the White House, implying policy will align with administration goals.
- Andreas warns this signals a possible formal Fed-Treasury cooperation that could be bullish for credit creation.
CapEx Cycle Drives A Regime Shift
- A macro regime shift from 'QE-like' to 'gung-ho' is driven by rising cyclical growth while inflation stays low.
- Andreas Steno Larsen attributes this to a resurging CapEx cycle incentivized by bonus depreciation rules in recent legislation.