Liquidity Crunch Threatens 'Everything Bubble' with Michael Howell

Jan 17, 2025

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Interview recorded - 13th of January, 2025

On this episode of the WTFinance podcast I had the pleasure of welcoming back Michael Howell. Michael is the Founder & Managing Director of CrossBorder Capital.

During our conversation we spoke about liquidity, how the FED and treasury have been artificially providing liquidity before the election, what the dollar wrecking ball means, impact on markets and more. I hope you enjoy!

0:00 - Introduction
1:30 - Outlook for global liquidity?
8:53 - What drove QE/YC?
17:35 - Bond market normalising
20:35 - What is happening in China?
25:15 - US Dollar wrecking ball
36:28 - QE distortions
38:30 - Action Scott Bessent to take?
40:45 - UK QT impact on liquidity?
42:15 - What impact on markets?
44:25 - Exiting markets?
46:10 - Everything bubble
47:35 - One message to takeaway?

Michael Howell is CEO of CrossBorder Capital, a London-based FCA registered, independent research and investment company that he founded in 1996. Previously he was Head of Research for Baring Securities and Research Director of Salomon Brothers Inc, the US investment bank. The liquidity methodology he pioneered monitors cross-border flows and Central Bank behaviour across some 80 countries world-wide. Liquidity flows are a central part of CrossBorder Capital's asset allocation advice, which is currently provided to major global investors, including institutional asset managers, government agencies, Central Banks and endowment funds. Michael has been in financial markets since 1981 and is a regular conference speaker and media commentator. He graduated from Bristol and London Universities with a finance doctorate, specialising in Fixed Income.

Michael Howell -

Website - https://crossbordercapital.com/
Twitter - https://twitter.com/crossbordercap
LinkedIn - https://www.linkedin.com/in/michael-howell-357b1416/?originalSubdomain=uk

WTFinance -

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