The Market Huddle A Credit Cycle That Hasn’t Cycled (Guest: Dario Perkins)
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Sep 7, 2024 Dario Perkins, MD of Global Macro at TS Lombard, returns to share his insights on the unique current economic cycle shaped by COVID-19. They discuss the misleading economic indicators and the unprecedented responses from central banks. Dario highlights why Modern Monetary Theory might be losing its relevance and provides investment strategies that balance risk amid market volatility. The dialogue covers trends in the copper market, the dynamics of the 'Mag 7' stocks, and the implications of global central bank movements.
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Guest Introduction
- Dario Perkins is a returning guest and Managing Director of Global Macro at TS Lombard.
- He's known for his insightful commentary on macroeconomic trends and market cycles.
Unique Economic Cycle
- This economic cycle is unique due to COVID-19 disruptions, government stimulus, and shifts in spending.
- Traditional economic indicators like leading indicators and the yield curve provided misleading signals.
Distorted Labor Markets
- Labor markets are lagging and may still be distorted from the pandemic.
- Companies filled vacancies with newly available workers, not due to increased demand.