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Milk Road Macro

Milk Road
Bitcoin
Federal Reserve
Inflation
Monetary Policy
Interest Rates
Danny Dayan
Digital Assets
Macroeconomics
Gold
US Economy
Tariffs
Financial Conditions
FOMC
Labor Market
Stablecoins
AI Revolution
Dollar
Housing Market
K-Shaped Economy
Prediction Markets

Helping everyday people get smarter about macro investing. Learn how global markets impact our favourite risk assets like Bitcoin, tech stocks, and more! 🌍 Macro moves markets, get ahead of the game with Milk Road Macro Newsletter every Tuesday and Thursday, in your inbox: milkroad.com/macro/

PublishesDailyEpisodes73Founded8 months ago
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Latest Episodes

In this episode of Milk Road Macro, we sit down with precious metals expert Jeff Clark to break down what’s really happening behind the recent gold sell-off, and why history suggests this could be one of the biggest opportunities in the market right ... more

In this episode of Milk Road Macro, the "oil quant" of macro Twitter breaks down the largest supply shock in the history of the oil market and why the true physical crisis hasn't even hit Western pockets yet. Rory Johnston, founder of Commodity Conte... more

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In this episode, FreightWaves CEO Craig Fuller breaks down why trucking and freight data may be the most important real-time indicator in macro right now, and why it’s flashing bullish. Despite rising oil prices, geopolitical tension, and recession f... more

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In this episode of Milk Road Macro, Geoffrey Kendrick (Head of Digital Assets Research at Standard Chartered) breaks down why stablecoins could trigger a $1 trillion capital shift, reshape the global banking system, and accelerate crypto adoption fas... more

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Recent Guests

Jordi Visser
Macro strategist, AI Macro Nexus Research lead at 22V Research; founder of Visser Labs
22V Research; Visser Labs
Episode: Jordi Visser: The Biggest Market Shift of Our Lifetime Is Starting
Steven Van Metre
President of Steven Van Metre Financial; macro strategist with 20+ years in the industry
Steven Van Metre Financial
Episode: A Massive Sell-Off Is Starting… And Most Investors Don’t See It w/ Steven Van Metre
Peter St Onge
PhD economist and senior fellow at the Heritage Foundation
Heritage Foundation
Episode: Oil Prices Are Rising Fast… Is a Global Recession Next? w/ Peter St Onge
Nicky Shiels
Head of research and metals strategy at MKS PAMP
MKS PAMP
Episode: The Global Commodity War Has Started... Gold’s Biggest Bull Market in 50 Years w/ Nicky Shiels
David Brickell
Finance expert with macro and trading background, crypto-focused executive
Front Financial; Blue Coast Capital
Episode: “Heads I Win, Tails You Lose”: Why Bitcoin Wins No Matter What Happens Next w/ David Brickell
Keith McCullough
Investor, entrepreneur, macro strategist; founder/CEO of Hedgeye Risk Management
Hedgeye Risk Management
Episode: US-Israel Strike on Iran: What It Means for Global Markets & Oil Prices w/ Keith McCullough
Sal Gilbertie
Co-founder, CEO and CIO of Tucurium Trading
Tucurium Trading
Episode: The Commodity Supercycle Is Back: The Macro Shift That Could Reshape Markets
Ryan Detrick
Chief Market Strategist at Carson Group
Carson Group
Episode: The 10 Macro Signals That Still Support a Bull Market w/ Ryan Detrick
Chris Vermeulen
Internationally recognized technical analyst, trader, and entrepreneur, founder of thetechnicaltraders.com
TheTechnicalTraders.com
Episode: Stage 4 Market Decline: The Phase Where Markets Fall 7x Faster w/ Chris Vermeulen

Host

John Gillan
Host of Milk Road Macro

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Talking Points

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A Massive Sell-Off Is Starting… And Most Investors Don’t See It w/ Steven Van Metre
Q: What signals would prompt you to reduce or change hedging?
A meaningful shift in energy prices, a clear change in consumer data or labor market strength, and observable shifts in credit conditions that indicate banks are loosening lending or pulling back, along with explicit deviations in market behavior that contradict the hedge's assumptions.
A Massive Sell-Off Is Starting… And Most Investors Don’t See It w/ Steven Van Metre
Q: How does the portfolio shield framework adapt to this environment?
It hedges core long exposure with assets like Treasuries and cash, adjusting hedge positions as cycles shift, aiming to be prepared to buy dips rather than chase every rally, and to switch hedges if oil or labor data signals a real regime change.
“Heads I Win, Tails You Lose”: Why Bitcoin Wins No Matter What Happens Next w/ David Brickell
Q: David, heads I win, tails you lose—how do you see Bitcoin performing in the two extreme macro scenarios you described?
Bitcoin has the potential to outperform in a prolonged, debt-funded conflict due to debasement pressures, while a rapid resolution could still buoy risk assets and leave Bitcoin advantaged by liquidity and a flight to quality; in both cases, Bitcoin can benefit from the macro backdrop.
US-Israel Strike on Iran: What It Means for Global Markets & Oil Prices w/ Keith McCullough
Q: What do you think about the AI deflation narrative and its impact on your framework?
AI is a productivity booster that can lower inflation, but the bond market's read on inflation and growth is what ultimately drives policy, so deflationary pressures from AI would need to translate into lower inflation readings that the Fed responds to with policy actions.
US-Israel Strike on Iran: What It Means for Global Markets & Oil Prices w/ Keith McCullough
Q: How do you view the current oil and energy setup amid geopolitical risk?
Oil is breaking out after a long downtrend driven by geopolitical risk; the signal-driven approach suggests buying dips if the risk range supports it, while avoiding narratives that replace data-driven signals.

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Frequently Asked Questions About Milk Road Macro

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

This podcast serves as an insightful resource for individuals seeking to deepen their understanding of macro investing and its implications on various financial markets. Broadly covering topics such as the dynamics of global economics, the impact of monetary policy, and investment strategies in high-risk assets like Bitcoin and tech stocks, episodes frequently feature expert guests from finance, offering unique perspectives on market trends and investment strategies. Recent discussions have particularly focused on the anticipated changes in market conditions as we approach 2026, dissecting economic indicators, inflation, and investment opportunities in emerging technologies such as artificial intelligence and blockchain.

What sets this pod... more

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These podcasts share a similar audience with Milk Road Macro:

1. The Milk Road Show
2. Milk Road AI
3. Forward Guidance
4. Raoul Pal: The Journey Man
5. Monetary Matters with Jack Farley

How many episodes of Milk Road Macro are there?

Milk Road Macro launched 8 months ago and published 73 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 Milk Road Macro?

Recent guests on Milk Road Macro include:

1. Jordi Visser
2. Steven Van Metre
3. Peter St Onge
4. Nicky Shiels
5. David Brickell
6. Keith McCullough
7. Sal Gilbertie
8. Ryan Detrick

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