Global Macro Update
Mauldin Economics
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.
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.
Episodes
Mentioned books
Mar 27, 2026 • 45min
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.
11 snips
Mar 13, 2026 • 43min
The New "Hemispheric Doctrine"
Jacob Shapiro, geopolitical strategist who frames long-term conflict and energy risks. He explores how the US-Israel campaign reshapes Gulf states' financial ambitions. He examines the Strait of Hormuz as a strategic choke point. He discusses incentives for faster energy transition and how U.S. actions accelerate a more multipolar world.
10 snips
Mar 6, 2026 • 44min
Double the Return with Lower Volatility
Eric Fine, an emerging markets bond portfolio manager at VanEck, explains why EM bonds currently yield about double developed markets with lower volatility. He discusses Middle East shocks creating winners among oil exporters. He covers currency diversification, the dollar sharing reserve status, and a blended local vs dollar EM bond approach.
4 snips
Feb 27, 2026 • 29min
Bonds Don't Lie
Neil Dutta, Head of Economic Research at Renaissance Macro, is a macro forecaster focused on labor, inflation, and rates. He explains why falling 10-year yields are a meaningful signal. He discusses four reasons to be cautious on growth, how tariffs change relative prices, and whether AI is really moving jobs or productivity today.
9 snips
Feb 20, 2026 • 38min
Why Everyone Was Wrong About the Global Oil Glut
Jan Stuart, global energy strategist at Piper Sandler and veteran oil-market analyst. He untangles claims of a global oil glut and explains China’s inventory builds. He breaks down recent OPEC supply moves, late-2025 disruptions, and why U.S. shale still grows. He maps where future supply and demand may come from and why 2026 could surprise markets.
Feb 13, 2026 • 43min
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.
Feb 6, 2026 • 28min
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.
Jan 23, 2026 • 34min
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.
Jan 16, 2026 • 36min
FOMO Is Not an Investing Strategy
Charles Schwab Chief Investment Strategist Liz Ann Sonders joins us to discuss why geopolitical events rarely move markets long-term, how AI investment themes are evolving, and why 74 stocks outperformed Nvidia in 2025. Plus, Sonders shares her jigsaw puzzle philosophy on investing and more.
Jan 9, 2026 • 47min
The Real Risk from Taiwan
"Even before a single missile or shot at Taiwan, the market will already react." Ed sits down with Lyric Hughes Hale, editor-in-chief of EconVue, and Taiwan-based analyst Eric Huang to discuss a hidden vulnerability in global markets: Taiwanese insurance companies.
