Michael Howell

Michael Howell, an expert on global liquidity and asset markets, dives deep into the ongoing liquidity crisis. He warns of potential squeezes unless central banks step up their game. Howell discusses China's new gold yuan mechanism and critiques U.S. Treasury policies, drawing parallels to past economic strategies. The conversation also touches on looming tariffs and their uncertain impact on growth, alongside strategies for navigating today's market volatility with a focus on short-duration treasuries and gold investment.

Michael Howell, an expert in finance and the founder of Cross-Border Capital, shares his insights on liquidity in global markets. He warns of hidden stimulus tapering off by the Fed and Treasury, impacting the economy's ability to refinance debts. Howell discusses the disconnect between 10-year yields and mortgage rates while urging that central banks must shift focus towards balance sheet management. Additionally, he explores China's debt deflation strategies and how global liquidity patterns correlate with Bitcoin's price. A must-listen for finance enthusiasts!

Michael Howell, Managing Director at Crossborder Capital and expert in financial market analysis, dives into a looming liquidity crisis. He highlights flaws in the Federal Reserve's predictions and discusses the risks tied to rising corporate debt. Howell delves into the implications of recent monetary policies and the fragile state of the financial system. He suggests gold and Bitcoin as potential hedges against inflation and emphasizes the need for innovative financial solutions amidst escalating global economic pressures.

Michael Howell, Managing Director of Crossborder Capital, shares his expert insights on global liquidity trends and the impending liquidity cycle peak. He analyzes the pivotal role of central banks and cross-border capital flows, warning of potential challenges ahead as refinancing needs grow. Howell also discusses asset dynamics, pointing to the importance of gold and Bitcoin in investment strategies. With a cautious outlook, he highlights the risks associated with the 'everything bust' and the U.S. dollar's dominance in shaping future economic landscapes.

Michael Howell, a global macro expert and founder of Cross Border Capital, shares his insights on liquidity in financial markets. He tackles the difference between market and funding liquidity and their impact on asset volatility, especially during crises. Howell explores the proposed Mar-a Accord and its potential to reshape the U.S. economy, emphasizing gold's significance amid financial unrest. He also discusses the challenges of capital allocation, debt management, and the vital role of demographic trends in shaping economic cycles.

Michael Howell, the Founder and CEO of Crossborder Capital, dives into the intricate world of global liquidity and its sway over financial markets. He shares insights on the mixed economic landscape, highlighting growth in the US versus challenges in China. Howell emphasizes the cyclical nature of liquidity, warning of potential downturns ahead for stocks. He also discusses the implications of rising debt and Federal Reserve policies on asset classes and offers thoughts on gold's future in the market.

Michael Howell, CEO of CrossBorder Capital and author of "Capital Wars: The Rise Of Global Liquidity," dissects the current liquidity landscape. He warns of an impending 'air pocket' as hidden stimulus fades, emphasizing the risks from the U.S. Treasury's bill-heavy financing strategy. Howell also discusses the potential for Trump to revalue U.S. gold reserves for a massive fiscal boost, while advocating for caution among investors as 2025 approaches. He suggests a pivot to real assets like gold amid these economic uncertainties.

In this engaging conversation, Michael Howell, Founder and CEO of Crossborder Capital, shares his insights on global liquidity and financial markets. He predicts a potential liquidity drain in 2025, driven by rising debt refinancings, which could disrupt market stability. Howell emphasizes the cyclical relationship between liquidity and asset prices and flags inflation and corporate debt as significant risks. He also discusses the Federal Reserve's tightening policies and their impact on the U.S. Treasury market, warning investors to prepare for a bumpy road ahead.

Michael Howell of Crossborder Capital and Andy Constan of Damped Spring Advisors join Forward Guidance to discuss and debate all things liquidity.Today’s interview is brought to you by YCharts. For a free trial and 15% discount on new memberships, visit https://go.ycharts.com/forward-guidanceFollow Michael Howell on Twitter https://twitter.com/crossbordercap___Follow Andy Constan on Twitter https://twitter.com/dampedspringFollow 2 Gray Beards on Twitter https://twitter.com/2GrayBeardsFollow Jack Farley on Twitter https://twitter.com/JackFarley96Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidanceFollow Blockworks on Twitter https://twitter.com/Blockworks_More info on Damped Spring Advisors: https://dampedspring.com/More info on Crossborder Capital: http://www.crossbordercapital.com/Michael Howell’s Substack: https://capitalwars.substack.com/____Timecodes:(00:00) // Defining Global Liquidity(04:07) // Only Looking At Federal Reserve Liquidity Is A Big, Big Mistake(11:23) // Why Has Michael Howell's Global Liquidity Index (GLI) Been Rising?(18:49) // The U.S. Treasury's Issuance Composition Has Been A Huge Factor For Liquidity(31:36) // Is This "Shadow Quantitative Easing (QE)"?(44:06) // Inverted Yield Curve & Repo(53:19) // Michael Howell's Bull Case For Stocks(59:10) // The "Short All Assets" Trade(01:07:43) // Will The Fed Return To Outright Quantitative Easing (QE)?(01:11:41) // Is Liquidity Going To Expand? Yes, It Is - Michael Howell(01:17:44) // Final Points On Term Premia, Fiscal Arithmatic, And The Dollar____Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Michael Howell, Managing Director of Crossborder Capital and author, offers deep insights into liquidity's pivotal role in global markets. He unveils how rising liquidity could favor risky assets, countering the belief that the Fed is tightening. With $70 trillion in annual refinancing needs, he argues inflation is probable, significantly impacting gold and equities. The discussion also navigates intricate FX market dynamics, recent yen fluctuations, and hints at potential strategies to weaken the US dollar, suggesting substantial implications for liquidity and asset values.