Danny welcomes back Ned Michaels, a former pro golfer turned broadcaster. Danny opens with a macro rundown on rising global bond yields amid the war in Iran, higher oil-driven inflation fears, constrained central banks, sovereign debt burdens, Japan’s weak yen, and the challenges of unwinding QE/QT, alongside emerging risks in AI-driven employment shifts and private credit redemptions. Ned recounts transitioning from high school tennis to college golf at Wake Forest and Vanderbilt, his pro career and injuries, and how rehab led him into golf media, including calling holes 15 and 16 at the Masters. They discuss staying neutral while knowing players, reading range prep, PGA Tour leadership changes focused on “scarcity,” marquee venues, and stronger ratings, LIV Golf’s uncertain economics and leverage via stars like Rahm and DeChambeau, NIL’s impact on turning pro, a Masters outlook (including Tiger’s cut chances), and a gold pullback with a bullish view on buying.

ABOUT THE SHOW

For decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.

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