Why the “Emerging Markets” Label Is Now Obsolete | Louis Gave

2026-03-13

Geopolitical strategist Jacob Shapiro is back to break down the second- and third-order effects of the US-Israel coordinated military action in Iran—and what it means for global markets, energy, and the future of the Middle East.

Jacob lays out three major macro themes he’s been wrestling with: the end of the Gulf states’ vision as safe havens for global capital, the unprecedented vulnerability of the Strait of Hormuz as an energy chokepoint, and what this conflict reveals about the accelerating shift toward a multipolar world.

Also, the “why now?” question behind the strikes, the role of the IRGC and why the Venezuela playbook doesn’t work in Iran, China’s strategic positioning, and more.

Find out more about Jacob Shapiro here: https://jacobshapiro.com/

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2026-03-06

Eric Fine, portfolio manager at VanEck, joins us this week to break down the emerging market bond landscape in a wide-ranging conversation covering geopolitics, currencies, and why EM bonds may be one of the most compelling trades of the decade.

Eric explains how recent Middle East events created clear winners among oil-exporting emerging markets, why the dollar will slowly share its reserve status, and how 13 years of data supports the case that EM bonds offer roughly double the yield of developed market bonds at lower volatility.
The conversation also dives into the structural advantages EM countries hold and why these fundamentals are drawing attention from institutional investors and central banks alike.

Eric also shares the story behind VanEck’s actively managed EM bond ETF, the

2026-02-27

The bond market is trying to tell you something, and most people aren’t listening.

Neil, my guest this week at Global Macro Update, lists several bullish factors: mortgage rates have dropped, AI CapEx is boosting equity prices, tax refund season should boost consumer spending, and the effect of last year’s rate cuts should show up around now. And yet yields are drifting lower.

Neil explains what the bond market is really signaling—and why he’s more cautious on the economic outlook than the Wall Street consensus.

He was one of the few voices who pushed back against the recession narrative in 2022… and he was proven right. When someone with that track record turns cautious, it’s worth paying attention.

Whether you’re a long-duration bond bull or just trying to make sense of a confusing

2026-02-20

Is there really an oil glut? What is China doing with all that crude? And is the US shale boom finally running out of steam?

Ed D’Agostino of Mauldin Economics sits down with Jan Stuart, global energy strategist at Piper Sandler and one of Wall Street’s sharpest oil analysts, for a wide-ranging conversation on the state of global oil markets heading into 2026.

Jan cuts through the noise on the so-called oil surplus, explains why OPEC’s “Pump for Trump” strategy didn’t crash prices, and reveals why China’s massive inventory buildup may be as much a war-preparedness move as an economic one. He also shares his outlook on US shale’s long-term trajectory, the untapped potential in Venezuela, the growing significance of offshore production, and why oil demand growth could be one of the big

2026-02-06

The investment playbook has changed. Politics and geopolitics are no longer just background noise—they’re the foundation of every macro trade. In this conversation, Marko Papic, chief strategist at BCA Research and the godfather of “GeoMacro,” breaks down how investors need to completely rethink their approach to markets.

In this week’s Global Macro Update, we cover:

– Wild market swings: precious metals, dollar volatility, and Fed chair speculation
– Whether the dollar is in jeopardy of losing reserve currency status
– Why Europe is more investable than you may think—and the case for European equities
– The demographic solution no one is talking about: high-quality migration flows
– Defense spending rotation: Why European defense contractors are just getting started

“I don’t think

2026-01-23

I sat down with George Friedman of Geopolitical Futures to discuss his latest annual forecast, and what a conversation it turned out to be.

George walks us through what he calls the “re-anchoring” of the world order. The Cold War didn’t truly end with the fall of the Soviet Union—it ended in Ukraine, where Russia proved it couldn’t even take its neighbor. Now the US-China relationship has replaced the US-Russia dynamic as the world’s primary anchor, creating a fundamentally different situation.

We dig into the economic challenges both countries face, the future of NATO, and yes—I had to ask George about Greenland. George also shares his thoughts on what comes after Trump, the demographic crisis facing the developed world, and why Russia’s position has become increasingly precarious.

2025-12-10

This is one of my favorite interviews of 2025. I just sat down with Jeff deGraaf, founder of Renaissance Macro Research, to get his thoughts on markets, cycles, and risk.

Jeff built his career translating technical analysis into actionable investment strategies for institutional clients. Institutional Investor has named him the #1 technical analyst for over a decade.

In this conversation, he walks through Jeff’s market cycle clock—a framework that plots inflation against growth to forecast stock market returns—and explains why inflation matters more to stocks than GDP growth does.

We cover:
• Why trend following beats mean reversion for long-term investors
• How to identify bubbles—and what to do when you’re in one
• Where semiconductors and healthcare sit on the valuation spectrum

2025-10-20

There’s a pattern with Dr. Ed Yardeni’s predictions: he’s usually right. In our new interview, Dr. Ed explains why the labor market is in a “funk,” how retiring baby boomers are propping up consumer spending, and how AI is impacting entry-level hiring.

We also discuss why lowering rates could create a melt-up in the markets, China’s economic challenges, and whether the price of gold will reach $10,000 by the end of the decade.

Get Dr. Ed’s take on Fed policy, bitcoin, and the Mag 7 by watching our interview now.

Learn more about Dr. Ed Yardeni here:
https://yardeni.com/

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