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In this episode, we shift the focus from oil headlines to the force quietly driving everything underneath: interest rates. Four weeks into the Iran conflict, markets remain locked on energy, but as Michael explains, it’s the surge in rates that’s doing the real damage. With the 10-year yield climbing, mortgage rates rising, and rate cuts rapidly priced out, financial conditions are tightening fast.

We break down the powerful link between oil and rates, why this supply-driven inflation shock is reigniting volatility. Michael also explains why tin he post-2022 regime investors are hyper-focused on inflation and rate risk. With stocks and bonds increasingly moving together, traditional diversification is breaking down.

Finally, we explore what history tells us about markets during inflation shocks, why oil spikes often precede economic slowdowns, and whether the recent resilience in economic data can last.

For full disclosure information visit: http://www.pipersandler.com/researchdisclosures

46:T47f,

When it comes to equity markets, there is a seller for every buyer. But how do you know which side of the trade to be on? Macro trends explain 70% of stock movements so understanding the macro backdrop is essential. Join Michael Kantrowitz, No. 1 ranked* Wall Street investment strategist, and the rest of the portfolio strategy & quantitative research team at Piper Sandler as they discuss current macro trends and what’s next for markets. Michael, Stephen, Emily, Joe and Dan have been working together for over 15 years. They pride themselves on their knowledge of financial market history while offering value added research and time-saving resources to their clients. The team utilizes the H.O.P.E. framework (Housing, Orders, Profits & Employment), a proven business cycle analysis to guide listeners through investment decisions and manage risk/reward in global equity markets. When they aren’t advising the best and brightest on Wall Street, they share bad taste in movies and good taste in cuisine. For more information on the podcast and the team visit what