MARKETS HAPPY HOUR PODCAST

In this week's Markets Happy Hour Podcast we are joined by two-time guest Christian Abuide, who first appeared on this podcast in April 4, 2026. We start with a comparison of today's market conditions to April 4, 2026, which is quite interesting, given how starkly the narrative has changed with respect to the economic outlook, the outlook for rates and the concerns around geopolitics. This makes us ponder whether we do get distracted by what Kevin Warsh has described as the "echoes of history" expecting historical patterns to repeat, instead of today's nuanced circumstances to play out. We discuss the inflation pattern around the world, in which in the UK core has unexpectedly slipped below that of the US. The energy and food variable may well now start to be less pressing as the Strait of Hormuz opens, but this has not deterred the ECB from its recent rate hike. Meanwhile "poker face" Kevin Warsh gave nothing away at his first press conference and this has stacked the odds of a rate hike before the end of the year. The technical factors in markets continue to affect the performance of SpaceX and other shares, while gold similarly is in decline while the dollar remains supported.