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Macro Minutes

RBC Capital Markets
Bank Of Canada
Federal Reserve
European Central Bank
Inflation
Bank Of England
RBC Capital Markets
Interest Rates
Central Banks
Reserve Bank Of Australia
US Economy
S&P 500
Credit Market
Canada
Equity Markets
Quantitative Tightening
Global Economy
Canadian Economy
CPI
Australia
Monetary Policy

Macro Minutes - RBC Capital Markets macro and market strategy series – explores the latest financial market and economic developments. Listen today to hear high conviction insights from RBC’s desk strategists and research analysts.

PublishesWeeklyEpisodes96Founded3 years ago
Number of ListenersCategories
InvestingBusinessNewsBusiness News

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Latest Episodes

In this European edition of Macro Minutes, we discuss the rise in energy prices in the wake of the Middle East conflict brings back painful memories of the 2022 energy shock for Europe. We dissect what is similar and what is different, quantify some ... more

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Concerns over the spending and investment circularity of the AI Ecosystem between chip makers, hyperscalers and data centers has shifted to a New Circularity, driving credit spreads wider. The New Circularity was initiated by new AI apps hitting soft... more

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The US Tariff framework is changing. China is preparing for its National People’s Congress. Latin America is entering a period of political volatility. We give our take on the current EM environment.

Participants:

• Richard Cochinos (Desk Strategy)... more

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Over the past 6-12 months Treasury yields are rangebound, gold surged, but the USD has weakened. Despite the de-dollarization narrative, investors have continued to accumulate USD denominated assets, but with a cautious bias (i.e. hedging). To unpack... more

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Recent Guests

Jason Mandel
Head of Leveraged Finance Desk Strategy
RBC Capital Markets
Episode: A New Circularity
Stephen Denny
Head of USIG Credit Strategy
RBC Capital Markets
Episode: A New Circularity
Eric Gerth
CEO of RBC BlueBay Asset Management
RBC BlueBay Asset Management
Episode: Limited Series | Special Edition Episode: Building success through culture and scale
Sue Lin
An Australian economist focusing on monetary policy.
RBC Capital Markets
Episode: Go Your Own Way
Anke Reinken
Global Co-Head of Financials Research
RBC Capital Markets
Episode: Limited Series | Special Edition Episode: Can Europe’s Bank Equities and AT1s comeback be sustained?
Mark Sanchez Roger
Head of European Financials Credit Sector Strategy
RBC Capital Markets
Episode: Limited Series | Special Edition Episode: Can Europe’s Bank Equities and AT1s comeback be sustained?
Lori Calvasina
Head of US Equity Strategy at RBC
RBC Capital Markets
Episode: When?
Andrea Maquijano
Expert discussing early primary market activity in credit markets
RBC Capital Markets
Episode: Too Good to be True!

Hosts

Janet Wilkinson
Managing Director and Head of Global Markets Flow Sales EMEA
Jason Daw
Co-host of Macro Minutes, Head of North America Rates Strategy

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#216
Canada/Business/Investing
Apple Podcasts
#122
Austria/Business/Investing
Apple Podcasts
#144
Austria/Business

Talking Points

Recent interactions between the hosts and their guests.

A New Circularity
Q: What are the main risks for IG credit given this shift toward private credit exposures?
Key risks include sustained weakness in software exposure, higher debt supply from hyperscalers, and nuanced risk in utility and insurance sectors, which can widen spreads even as some names within defensible franchises hold up.
A New Circularity
Q: Over to you, Jason. Why are we seeing markets move just recently in private credit?
The recent moves reflect a circularity of AI spending that widens the loop between chipmakers, hyperscalers, and data centers, affecting valuations in private credit and prompting concerns about defaults and liquidity in areas like CLOs and BDCs.
Diversify the Buy
Q: What is your outlook for bond yields this year?
Yields are expected to move back into slightly higher ranges but may be capped by concerns about the Fed's actions and economic uncertainties.
Diversify the Buy
Q: What is driving the positive investor flows into gold?
Investor flows into gold are significant and driven by factors like diversification and its increasing role as a perceived safe haven asset.
Diversify the Buy
Q: How do you reconcile the contradiction of strong US growth with the structural headwinds to the dollar?
The balance between the stock of assets owned and the flow is crucial, as currency markets react to risk management rather than just asset flows.

Audience Metrics

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Frequently Asked Questions About Macro Minutes

What is Macro Minutes about and what kind of topics does it cover?

A finance-focused series presents discussions on current macroeconomic topics, market strategies, and financial trends. Episodes feature insights from experts at RBC Capital Markets who analyze significant market developments such as monetary policy changes, government fiscal strategies, and their implications for investments. Themes around global economic conditions, central bank decisions, and asset management strategies are prevalent, providing valuable perspectives for industry professionals and anyone interested in the financial landscape.

The series distinguishes itself with a blend of expert commentary and data-driven analysis, ensuring that listeners gain a comprehensive understanding of the complexities involved in financial marke... more

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Which podcasts are similar to Macro Minutes?

These podcasts share a similar audience with Macro Minutes:

1. Odd Lots
2. The Memo by Howard Marks
3. Exchanges
4. RBC's Markets in Motion
5. Big Take

How many episodes of Macro Minutes are there?

Macro Minutes launched 3 years ago and published 96 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 Macro Minutes?

Recent guests on Macro Minutes include:

1. Jason Mandel
2. Stephen Denny
3. Eric Gerth
4. Sue Lin
5. Anke Reinken
6. Mark Sanchez Roger
7. Lori Calvasina
8. Andrea Maquijano

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