Blue Line Futures Macro Corner

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 27

Access Jannis Meindl's 'Inflation & Growth Expectations, Terminal Fed Funds Rate, Deficit Financing'

Paul Wankmueller, CMT and Jannis Meindl talk about the latest inflation dynamics, the U.S. consumer continuing to drive activity, and the Fed's milestones on the way to a pivot. Paul & Jannis also cover the implications of sovereigns decreasing their treasury holdings in the context of U.S. deficit financing.

Timecodes:

0:00 - Disclosure

0:18 - Inflation Slowing, Fed Milestones, Deficit Financing

14:20 - Disclosure

This podcast was recorded on December 12, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 28

Access Jannis Meindl's 'Monetary Tightness Continues'

Paul Wankmueller, CMT and Jannis Meindl discuss last week's central bank action, consumer spending in the context of strong Nike earnings, and markets continue to price low secular inflation.

Timecodes:

0:00 - Disclosure

0:18 - Markets Price Low Secular Inflation

14:12 - Disclosure

This podcast was recorded on December 21, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 26

Access Jannis Meindl's 'The Prospects For Future Growth'

Paul Wankmueller, CMT and Jannis Meindl talk about the fundamental drivers of economic growth and how capital, labor, and productivity shape up as it pertains to future growth prospects. Within the context of economic growth, Paul & Jannis also talk about China's role as a disinflationary driver for more than two decades.

Timecodes:

0:00 - Disclosure

0:18 - The Prospects For Future Economic Growth

12:40 - Disclosure

This podcast was recorded on December 5, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 25

Access Jannis Meindl's 'Is this A Titanic Economy?'

Paul Wankmueller, CMT and Jannis Meindl talk about what a Fed pivot or pause would mean, the transmission process of monetary policy and its implications for markets, as well as the connection between commodity and treasury curves.

Timecodes:

0:00 - Disclosure

0:18 - A Snapshot Of The U.S. Economic Cycle

12:28 - Disclosure

This podcast was recorded on November 21, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 24

Access Jannis Meindl's 'The U.S. Economic Cycle' 

Paul Wankmueller, CMT and Jannis Meindl look under the hood of Thursday's CPI report, the implications of high indebtedness of corporations with covenant-lite loans, and yield curves diverging from strong economic data.

Timecodes:

0:00 - Disclosure

0:18 - A Snapshot Of The U.S. Economic Cycle

14:00 - Disclosure

This podcast was recorded on November 14, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 23

Access Jannis Meindl's 'Regime Shift On Wall Street?'

Paul Wankmueller, CMT and Jannis Meindl cover the latest factor moves in U.S. equity markets, investor sentiment, and the Fed's fight against the undercurrents of inflation (namely wages.)

Timecodes:

0:00 - Disclosure

0:18 - U.S. Equity Factors, Wages, Fed Policy

12:02 - Disclosure

This podcast was recorded on November 7, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 22

Access Jannis Meindl's Climbing The Macro Mountain.

Paul Wankmueller, CMT and Jannis Meindl discuss the macro landscape ranging from treasury yields to credit spreads. The two also cover the economic growth outlook in the context of the current services spending binge.

Timecodes:

0:00 - Disclosure

0:18 - Dollar, Sovereign Credit Risk, Fed Policy

14:24 - Disclosure

This podcast was recorded on October 31, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions and be sure to access this week's Macro Corner Chart Booklet here: Macro Corner Chart Booklet, Episode 21

Access Jannis Meindl's The Dollar Wrecking Ball & Sovereign Bond Yields.

Paul Wankmueller, CMT and Jannis Meindl discuss the most recent pertaining to Fed policy, the decline in central bank fx reserves, and the implications for various asset classes.  

Timecodes: 

0:00 - Disclosure 

0:18 - Dollar, Sovereign Credit Risk, Fed Policy 

16:31 - Disclosure  

This podcast was recorded on October 24, 2022. 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions -- we're more than happy to provide you with a 14-day FREE trial of our premium research. Also access all the Tactical Insights reports mentioned in this episode: Crude Oil Tactical Insights, Natural Gas Tactical Insights, Copper Tactical Insights, Treasuries Tactical Insights

Paul Wankmueller, CMT and Jannis Meindl discuss the predominant supply & demand dynamics for crude oil, natural gas, copper, and the U.S. treasury market. As China reopening hopes got lowered by Xi Jinping, the Biden administration continues to release from the Strategic Petroleum Reserves, and central banks keep tightening policy, we break down the dynamics at play.

Timecodes:

0:00 - Disclosure

0:18 - The Supply & Demand Of Key Commodities

14:11 - Disclosure

This podcast was recorded on October 20, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions -- we're more than happy to provide you with a 14-day FREE trial of our premium research.  Access this week's chart booklet here: Macro Corner Episode 19, Chart Booklet

Paul Wankmueller, CMT and Jannis Meindl discuss the implications of energy markets for the Fed's future trajectory. As China aims to reopen, the Strategic Petroleum Reserves keep declining, and refining capacity stays constrained, we dive into the most important factors of future energy supply/demand imbalances. 

Access Jannis Meindl's article Finding An (Un)Happy Equilibrium While Running From Oil Vigilantes to learn more about the topics discussed in today's podcast.

Timecodes:

0:00 - Disclosure

0:18 - Oil Vigilantes & The Fed

14:03 - Disclosure

This podcast was recorded on October 10, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions -- we're more than happy to provide you with a 14-day FREE trial of our premium research.  Access this week's chart booklet here: Macro Corner Episode 18, Chart Booklet

Paul Wankmueller, CMT and Jannis Meindl discuss the latest indications that inflation may be in the process of quickly slowing down. Today's podcast puts the inflation story into context with the latest Fed speak, the Bank of England's intervention in the Gilt market, and much more. 

Access Jannis Meindl's article Poking Holes In The Inflation Balloon expanding on the topics discussed in this podcast.

Timecodes:

0:00 - Disclosure

0:18 - Market Addictions Get Revealed

12:38 - Disclosure

This podcast was recorded on October 3, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutures.com with any questions -- we're more than happy to provide you with a 14-day FREE trial of our premium research.  Access this week's chart booklet here: Macro Corner Episode 17, Chart Booklet

Paul Wankmueller, CMT and Jannis Meindl discuss the latest market signals and what they're telling us about Fed policy. Today's podcast also covers the Chinese Yuan and what a depreciation would mean for U.S. treasuries, commodities and stocks.  

Access Jannis Meindl's article Fighting Addictions & Lonely Places expanding on the topics discussed in this podcast.

Timecodes: 

0:00 - Disclosure 

0:18 - Market Addictions Get Revealed 

11:24 - Disclosure  

This podcast was recorded on September 26, 2022. 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Access this week's chart booklet here: Macro Corner Episode 16, Chart Booklet

Paul Wankmueller, CMT and Jannis Meindl dive into the latest datapoints driving Fed policy action, the tug of war between labor & capital as well as investor assumptions priced in.  

Access Jannis Meindl's article Monetary Hostile To Fiscal And Vice Versa expanding on the topics discussed in this podcast.

Timecodes: 

0:00 - Disclosure 

0:18 - Potential Fed Error & The Distribution of Profits Between Capital and Labor 

12:49 - Disclosure  

This podcast was recorded on September 19, 2022. 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Access this week's chart booklet here: Macro Corner Episode 15, Chart Booklet

We talk about the Fed's path forward and whether a soft landing, as indicated by some indicators, is indeed possible or whether higher for longer will put financial assets at risk. Paul and Jannis also cover the implications of structural underinvestment and key factors to watch in this week's CPI report.

Access Jannis Meindl's article Higher For Longer & A Soft Landing expanding on the topics discussed in this podcast.

This podcast was recorded on September 12, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Paul Wankmueller, CMT and Jannis Meindl discuss the shift from the Fed's hawkish rhetoric at Jackson Hole to fiscal dominance. What fiscal spending implies for financial markets and much more covered in today's episode. Access a new chart booklet for free here: Macro Corner Episode 14, Chart Booklet

Access Jannis Meindl's article Fiscal Dominance And The Fed's Amplification Of The Business Cycle to learn more about fiscal dominance.

This podcast was recorded on September 6, 2022. 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Email podcast@bluelinefutrues.com with any questions and be sure to access the chart booklet here: Macro Corner Episode 13, Chart Booklet

Paul Wankmueller, CMT and Jannis Meindl discuss the latest macro drivers coming off of Jackson Hole and why the speech was merely a direct shift to data dependence. Making economic stability as a whole conditional on price stability, what does it mean for risk assets going forward and are we due for a multiple re-rating?

If you want to learn more about today's topics, be sure to access Jannis Meindl's article titled The 2nd Fed Error.

Timecodes:

0:00 - Disclosures

0:18 - Macro Corner Intro

1:08 - Why Jackson Hole Wasn't A Pivot

12:55 - Will Value vs. Growth Have to Re-Rate?

17:04 - Global Wage Coordination

19:25 - U.S. Energy Production

This podcast was recorded on August 29, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Paul Wankmueller, CMT and Jannis Meindl discuss the lack of fixed asset spending in old economy sectors and the implications for the Fed as well as the economy as a whole. As output gets constrained by a lack of capital formation, the two also talk about the inflation outlook and current market expectations. Macro Corner Chart Booklet accessible: here.

Check out Jannis Meindl's Sunday article published yesterday The Structural Underpinnings of the U.S. Economy Compared to FOMC Projections.

Timecodes:

0:00 - Disclosure 

0:18 - Podcast Intro 

1:31 - Old Economy Constraints 

2:46 - Real vs. Potential GDP Growth 

4:44 - Energy Markets & Open Interest 

11:32 - The U.S. Output Gap 

14:15 - 2-Year Yield Dictating Monetary Policy 

18:20 - Europe's Energy Crisis 

22:24 - Podcast Outro

This podcast was recorded on August 22, 2022.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Paul Wankmueller, CMT and Jannis Meindl discuss the latest on the inflation front, the effects of quantitative tightening, and the relationship between QT and financial assets. We also talk about consumer credit ballooning and the implications for credit card delinquencies going forward. Access the episode's chart booklet: Macro Corner Episode 11, Chart Booklet

Check out Jannis Meindl's Sunday editorial Markets Move with Macro Expectations and Expectations Change.

Timecodes: 

0:00 - Disclosure 

0:18 - Podcast Intro 

1:15 - Is The First Inflation Wave Over? 

7:25 - Investor Sentiment 

12:26 - Credit Card Debt Rising 

16:56 - Fed Balance Sheet & Correlation To Risk Assets 

20:37 - Outro & Jackson Hole Talk  

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Paul Wankmueller, CMT and Jannis Meindl talk about secular forces in the U.S. economy while weighing those longer-term forces against short-term market dynamics. The importance of a wage-price spiral, the TINA effect and money flows. Be sure to give the episode a listen!  Be sure to check out this week's chart booklet here: Macro Corner Episode 10, Chart Booklet 

Check out Jannis Meindl's Sunday editorial Risk Asset Pricing is a Function of Flows. 

Timecodes: 

0:00 - Disclosure 

0:18 - Podcast Intro 

2:15 - Stagflation Economy & What Portfolios Work 

7:31 - Is The Wage-Price Spiral Real? 

15:45 - Multiples & TINA 

21:38 - Money Flows 

25:07 - Economic Data & Outro  

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Paul Wankmueller, CMT and Jannis Meindl talk about the current state of monetary policy and why high inflation may reduce the burden of high debt levels. The podcast also covers the most important aspects of last week's Fed meeting and what Jay Powell's dovish tone means for financial assets. Be sure to check out this week's chart booklet here: Macro Corner Episode 9, Chart Booklet

Check out Jannis Meindl's Sunday editorial The Reality of Negative Real Rates that was published on July 31, 2022.

Timecodes:

0:00 - Disclosure

0:18 - Podcast Intro

1:02 - Negative Real Interest Rates

3:00 - U.S. Debt & Interest Outlay

14:50 - Dovish Fed & Financial Conditions

22:23 - Wage Inflation

28:27 - Loan Growth

30:31 - Outro & Disclosure

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Paul Wankmueller, CMT and Jannis Meindl discuss the Fed's QT cycle and how tightening financial conditions affect risk assets. The two also discuss U.S. recession risks and a red-hot warning of the 2s10s yield curve. Towards the end of the podcast, Paul and Jannis talk about global currency markets that reflect the global economic state. Access the episode's chart booklet here: Macro Corner Episode 8, Chart Booklet

Access Jannis Meindl's macro article titled The Withdrawal of Liquidity published on July 24, 2022.

Timecodes:

0:00 - Disclosure

0:20 - Fed Policy & Intro

3:14 - U.S. Job Market

5:15 - Fed Treasury Holdings & Quantitative Tightening

10:34 - Bond Market Volatility

13:36 - High Yield Credit

17:08 - Yield Curve

21:16 - Global Currencies & Economic Slowdown

24:09 - Liquidity & Central Bank Divergence

26:10 - ECB Rate Hike & Fragmentation Tool

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Paul Wankmueller, CMT and Chief Market Strategist Phillip Streible discuss the demand outlook for metals, various macro trends and whether precious metals will regain demand from crypto holders. As metal market experts, the two also talk about their initial introduction to the world of metals, what they find so intriguing, and what they see next within the global macro context. The two also cover the advantages of using futures and  how to strike a balance with your physical coin holdings. Access the episode's chart booklet here: Macro Corner Special Metals Episode, Chart Booklet

Email info@Bluelinefutures.com or call 312-278-0500 with any questions! We are here to help with any questions, market strategies, or anything else on the board!

Timecodes:

0:00 - Disclosure

0:18 - Intro to Special Metals Episode

1:12 - How Paul & Phil Got Started In Metals

3:28 - Is Gold an Inflation Hedge?

5:50 - Coins vs. Futures

9:00 - Gold Performs when Inflation Falls

10:56 - Silver & Industrial Demand

13:39 - Declining Silver Supply

14:43 - Platinum & Palladium

19:20 - Copper

20:50 - Central Banks, Interest Rates & U.S. Dollar

22:05 - Copper Mining & Supply Shortages

26:00 - Technical Analysis of Metals

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Why MMT doesn't work, tectonic shifts in demographics, and labor unions driving inflation as supply chains get relocated. Paul Wankmueller, CMT and Jannis Meindl talk about the flaws of central economic planning, the Fed's balancing act between consumer categories, as well as the current economic state. Access today's chart booklet for free here: Macro Corner Episode 7, Chart Booklet

Access Jannis Meindl's macro article titled Central Economic Planning and Economic Conditions that was published Sunday July 17, 2022.

Timecodes: 

0:00 - Disclosure 

0:18 - Podcast Introduction 

0:59 - Modern Monetary Theory & Sri Lanka 

2:38 - Inflation Spirals 

4:29 - Inflation Mindset in Emerging Markets 

6:28 - Wages & Labor Unions 

8:12 - Golden Age For Blue-collar Workers 

10:14 - China's Demographic Decline 

15:50 - Relocation of Supply Chains 

17:23 - Household & Bank Leverage 

18:56 - Not All Consumers Are Created Equal 

20:15 - Credit Card Debt 

22:12 - The Negative Wealth Effect 

25:02 - Renormalization of Spending 

28:15 - Business Inventories 

30:09 - Labor Force Participation 

33:06 - Disclosure  

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

While western central banks are tightening financial conditions, China is easing on a monetary as well as fiscal basis. Jannis Meindl and Paul Wankmueller, CMT talk about the potential impacts on risk assets and commodities. With 20% of China's copper demand coming from real estate, the country's high levels of grains, and China industrial activity all covered in today's episode, be sure to get your Macro Corner chart booklet: Macro Corner Chart Booklet, Episode 6

The booklet comes in addition to Jannis Meindl's weekly macro article Top Things to Watch you can access here: The China Divergence and Commodities

Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!

0:00 - Disclosure

0:18 - Topic Overview and Emerging Market Stress

2:17 - The China Divergence

8:30 - China Business Conditions

12:13 - Industrial Profits in China

14:19 - The Strategic Importance of Food & Energy

19:43 - China Real Estate Climate

21:29 - Strategic Petroleum Reserves

25:55 - Gauging Oil Demand

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Emerging market debt has seen a lot of stress lately. On today's podcast we talk about capital allocation across EM as investors demand higher returns. Paul Wankmueller and Jannis Meindl also speak about the latest from Jay Powell and central bankers globally as the Dollar is causing havoc for debtor nations. Additionally, the episode runs through China's geostrategic pathway and how the country is running on a diametrically opposite policy trajectory to the rest of the world. This podcast was recorded on 07/05/2022 and alongside the episode, you can access our free Macro Corner Chart Booklet covering a wealth of data here: Macro Corner Chart Booklet, Episode 5

The booklet comes in addition to Jannis Meindl's weekly macro article Top Things to Watch you can access here: Emerging Markets and Financial Conditions

Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!

Timecodes:

0:00 - Disclosure

0:18 - Introduction

1:25 - Stress in Emerging Market Debt

9:10 - Brazilian Debt & EM Contagion

10:56 - China's Policy Pathway & Stocks

16:15 - Tight Labor Market Enabling Hawkish Fed

18:30 - U.S. Financial Conditions

19:56 - Pricing in Peak Inflation

24:00 - Closing Thoughts

24:59 - Disclosure

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

What are the implications of this commodities sell-off within the context of structural undersupply, is the Fed handcuffed by debt and what is happening with emerging market debt? In today's podcast, recorded on 6/27/2022, Paul Wankmueller, CMT and Jannis Meindl discuss the current macro circumstances. Alongside today's episode, you can access our free Macro Corner Chart Booklet covering a wealth of data here: Macro Corner Chart Booklet, Episode 4

The booklet comes in addition to Jannis Meindl's weekly macro article Top Things to Watch you can access here: Commodities and Fed Dilemma

Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!

Timecodes:

0:00 - Disclosure

0:18 - Introduction

1:58 - Fertilizer Price Disinflation

6:14 - Commodities Disinflation Broadly

7:11 - Industrial Metals Sell-Off

7:55 - Copper & China Credit Impulse

10:18 - Chile, Copper & Weaponization Of Commodities

11:56 - End Of Month/Quarter Rebalancing & Energy Markets

13:01 - Fed Dilemma

15:40 - Debt Handcuffing Central Banks

16:58 - US Tax Receipts & Savings

19:54 - Emerging Market Debt

20:42 - Argentina Credit Conditions

21:44 - Exporting Inflation To Emerging Markets

23:54 - BRICS Alliance

24:46 - IMF, China & Emerging Market Debt

26:10 - Closing Thoughts

27:10 - Disclosure

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Are the Fed and central banks globally in a position to pull the liquidity rug from financial assets? In today's podcast, recorded on 6/20/2022, Paul Wankmueller, CMT and Jannis Meindl discuss the monetary environment. Alongside today's episode, you can access our free Macro Corner Chart Booklet covering a wealth of data here: Macro Corner Chart Booklet, Episode 3

The booklet comes in addition to Jannis Meindl's weekly macro article Top Things to Watch you can access here: Central Banks At The Crossroads Top Things to Watch this Week

Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!   

Timecodes: 

0:00 - Disclosure 

0:18 - Introduction 

2:45 - M2 & Fed Balance Sheet 

5:30 - High Yield Credit 

7:55 - Fed Funds Futures Indicated Yield 

9:11 - Business Sentiment (NFIB) 

11:49 - Freight Rates Cooling Off 

14:26 - European Government Bond Yields 

15:48 - Credit Default Swaps in Europe 

16:03 - Credit Default Swaps in Europe History 

17:05 - Recap 

17:53 - Disclosure 

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

In today's episode, recorded on June 13, 2022, Paul Wankmueller and Jannis Meindl talk about US debt, monetary policy and consumer sentiment. Don't miss our Macro Corner Chart Booklet! It complements each podcast episode with a wealth of data and comes in addition to Jannis Meindl's weekly macro article Top Things to Watch.

In today's episode, recorded on June 6, 2022, Paul Wankmueller and Jannis Meindl talk about energy markets, inflation, the wealth gap and services spending. Be sure to check out Jannis Meindl's Top Things to Watch article from which this podcast's ideas come from: Commodities, Inflation and Labor Market | Top Things to Watch this Week