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Artwork for Macro Hive Conversations With Bilal Hafeez

Macro Hive Conversations With Bilal Hafeez

Bilal Hafeez
Inflation
Artificial Intelligence
China
Federal Reserve
United States
Donald Trump
US Economy
Tariffs
Us-China Relations
Fiscal Policy
Europe
Machine Learning
Climate Change
Trump Administration
Financial Markets
Monetary Policy
Russia
Labor Market
Finance
Emerging Markets

We talk economics and markets with leading policymakers and investors.

PublishesWeeklyEpisodes339Founded7 years ago
Number of ListenersCategories
InvestingBusiness

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Artwork for Macro Hive Conversations With Bilal Hafeez

Latest Episodes

Paul Cavey is a China-focused Asia economist with twenty-five years of experience covering the region. He runs East Asia Econ. Previously, he was a macro strategist in the global bond team at Wellington Management, head of China economics at Macquari... more

YouTube

Apurv Jain is the Founder and CEO of MacroX, a San Francisco-based startup building a real-time measurement layer for the global economy using alternative data. Before MacroX, Apurv built machine-learning investing systems at Microsoft, traded FX der... more

YouTube

Jay Pelosky is the founder of TPW Advisory. He has over 35 years of buy-side and sell-side financial market experience. Before going independent, Jay was at Morgan Stanley, where he was ranked #1 by Institutional Investor in Global Equity Strategy an... more

YouTube

Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, as well as a Fellow with both the Canadian Global Affairs Institute a... more

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Recent Guests

Apurv Jain
Founder and CEO of MacroX
MacroX
Episode: Ep. 378: Apurv Jain on Alternative Data, Real-Time Macro Nowcasting, and AI's Economic Role
Jay Pelosky
Founder of TPW Advisory; former head of asset allocation at Morgan Stanley
TPW Advisory
Episode: Ep. 377: Jay Pelosky on the Tripolar World, the Spending Super Cycle, and the Global Earnings Boom
Rory Johnston
Toronto-based oil market researcher, founder of Commodity Context, university lecturer, and policy fellow
Commodity Context; Munk School of Global Affairs and Public Policy; Payne Institute for Public Policy
Episode: Ep. 376: Rory Johnston on $100 Oil, the Refined Product Crisis, and China's Swing Power
Dominique Dwor-Frecaut
Macro Stratist based in LA, currently at Macro Hive; previously at Bridgewater, NY Fed, IMF, World Bank
Macro Hive
Episode: Ep. 374: Dominique Dwor-Frecaut on the K-Shaped US Economy, AI Supply Shocks, and Fed Hikes
Jon Turek
Founder and CEO of JST Advisors, hedge fund advisor
JST Advisors
Episode: Ep. 373: Jon Turek on the 'Owl' Fed, the US Treasury's Bond Buybacks, and AI Capex Durability
Branko Milanović
Research professor focusing on income inequality; author of The Great Global Transformation
City University of New York
Episode: Ep. 372: Branko Milanović on China's Rise, the Shift to National Market Liberalism, and Inequality
Paul Krake
Investor, strategist and independent researcher; author of Growth Without You
View from the Peak (founder)
Episode: Ep. 371: Paul Krake on AI's Post-Cyclical World, 10% Unemployment Risks, and the End of Friction
Eric Beinhocker
Professor at the Blavatnik School of Government, University of Oxford; founder/executive director of INET Oxford
INET Oxford; Oxford Martin School
Episode: Ep. 370: Eric Beinhocker on Market Humanism, the End of Neoliberalism, and Human Flourishing
Richard Clarida
Managing Director and Global Economic Advisor at Pimco
PIMCO
Episode: Ep. 368: Richard Clarida on the Warsh Fed, the AI Capex Boom, and Global Economic Fragmentation

Host

Bilal Hafeez
Host of Macro Hive Conversations, Macro Hive

Reviews

4.8 out of 5 stars from 328 ratings
  • Harvard ignorance

    No, university was not the obsession of the right and the left, it was the obsession of the left. They saw doctors and lawyers making money and they assumed university was the link. So they shut down trade schools and forced their kids to study gender, art and media; and then wondered why they still underperformed.

    Extraordinary these blokes have jobs.

    Meanwhile, those who do study trades in this century are making millions.

    Apple Podcasts
    3
    Chess whiz
    Australiaa year ago
  • Shameful softball interview with Lavorgna

    Read the transcript of this interview — OMG — he thinks Trump is now is more knowledgeable! And the other insane statements. And you let the insanity just stand. Not worthy of you, as this is usually a good and thoughtful podcast.

    Apple Podcasts
    1
    CaityC
    United States2 years ago
  • Left wing drivel

    The same garbage is available from all the msm. Utter rubbish.

    Apple Podcasts
    1
    WildlyFastWill7
    United States2 years ago
  • Probably the smartest macro pod

    Varied topics, proper conversations, razor-sharp host

    Apple Podcasts
    5
    BKIncog
    United Kingdom2 years ago
  • Episode 234 Waste of time!!

    I would not waste my time on this episode!! The guest is utterly politically biased, hindering his open-mindedness and critical thinking.

    The guest holds a strong bias toward a political ideology. —The conversation is a complete echo chamber where his political bias leads him to misinterpretation or selective use of facts, contributing to polarization and misunderstanding in discussions.

    Apple Podcasts
    1
    RDO1180
    United States2 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

High-quality, professional macro analysis with actionable insights
Diverse guests beyond the usual macro circles
Varied topics and thoughtful conversations with sharp host

Chart Rankings

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Talking Points

Recent interactions between the hosts and their guests.

Ep. 377: Jay Pelosky on the Tripolar World, the Spending Super Cycle, and the Global Earnings Boom
Q: How should investors position given the current environment and potential rate moves?
The guest advocates riding through volatility with a strong conviction in a lasting macro view rather than trying to trade algos; suggests overweight non-US equities, selective EM exposure, and strategic sector and country bets (e.g., Europe banks, Poland, Spain, Brazil) while focusing on earnings-driven stock price appreciation rather than multiple expansion.
Ep. 377: Jay Pelosky on the Tripolar World, the Spending Super Cycle, and the Global Earnings Boom
Q: What is the 'spending super cycle' and how does it affect earnings?
He explains that all three regions are actively spending on AI, defense, and climate, creating an unprecedented, multi-year expansion that globalizes earnings growth through 2030 and beyond, supporting a secular leadership shift in equities toward non-US markets as earnings rise while valuations compress.
Ep. 377: Jay Pelosky on the Tripolar World, the Spending Super Cycle, and the Global Earnings Boom
Q: What is the 'tripolar world' and why is it relevant now?
The guest describes a three-region integration trend—Asia, Europe, and the Americas—driven by regional deepening after the global crisis, with blocs forming and a shift away from a single-dominant US-led system. This structure underpins his growth and earnings outlook, suggesting broad-based, multi-regional demand for assets.
Ep. 376: Rory Johnston on $100 Oil, the Refined Product Crisis, and China's Swing Power
Q: Given the current market, how significant is China's role in stabilizing global oil markets going into winter?
China's policy actions—whether through stockpiling, export restrictions, or loosening controls on independent refiners—are central to whether refined product margins stay elevated or ease, and could determine how quickly global demand destruction translates into price normalization.
Ep. 376: Rory Johnston on $100 Oil, the Refined Product Crisis, and China's Swing Power
Q: What is the best way for people to follow Rory Johnston's work and engage with Commodity Context?
You can follow Rory on X/Twitter at Rory_Johnston, find him on Blue Sky, and read his formal work at commoditycontext.com; he also hosts the Oil Ground Up podcast.

Audience Metrics

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Frequently Asked Questions About This Podcast

What is This Podcast about and what kind of topics does it cover?

A rigorous, theory-to-practice macro show featuring conversations with economists, policymakers, investors, and senior journalists. Topics consistently center on global macro regimes, inflation dynamics, monetary and fiscal policy, AI's impact on economies, and geopolitical risk, with guests offering structured frameworks, case studies, and forward-looking scenarios. Notable is the strong emphasis on actionable insights for asset allocation, risk management, and policy design, often grounded in long-standing expertise and cross-disciplinary perspectives. The format tends to balance deep-dive analysis with accessible explanations, making it valuable for listeners who want to connect macro theory to market moves and real-world outcomes.

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1. The Macro Trading Floor
2. Forward Guidance
3. Monetary Matters with Jack Farley
4. Alpha Exchange
5. Macro Voices

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this podcast launched 7 years ago and published 339 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on this podcast?

Recent guests on this podcast include:

1. Apurv Jain
2. Jay Pelosky
3. Rory Johnston
4. Dominique Dwor-Frecaut
5. Jon Turek
6. Branko Milanović
7. Paul Krake
8. Eric Beinhocker

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