CFA Society Chicago

ตอน

• Macro Matters - price stability 29.06.2026 50นาที

  Whether it is in semis and memory stocks or the overall economy, the big talk of the market is price stability or lack thereof. Tony Zhang and Rich Excell are back to break down market moves from short-term rates and Kevin Warsh to the AI trade. Let them know what you think, and reach out to CFA Soicety Chicago to get your continuing education credits after you do. 
• Macro Matters - a little bit of everything 10.06.2026 49นาที

  Tony Zhang PhD, CFA and Rich Excell CFA, CMT are back after some R&R. Given it has been almost a month since we last talked, we looked at every asset class and guess what? There are some interesting moves going on in everything from gold to bonds to stocks to crypto. Is there a common thread going through them all? There just might be. 
• Macro Matters - Trump & Xi meeting 13.05.2026 43นาที

  The market is back to its AI focus with the Iran War still in the background, particularly since commodities prices are impacting data.  Tony Zhang and Rich Excell are back to talk about possibly the most important thing - the Trump & Xi meeting this week  - as it will impact everything - AI, Iran and lots more.     The macro ALWAYS matters, so listen in to see what people are talking about
• Macro Matters - April month-end version 30.04.2026 58นาที

  It is FOMC Day! It's AI data center earnings day! It's oil ovre $100 day! It's something for everyone day Rich Excell and Tony Zhang are back to try and decode what we are seeing in the markets. Are you an AI optimist or pessimist? Do you care about oil supply or demand? These are the questions you should be asking
• Macro Matters - Is the market macro? 16.04.2026 55นาที

  Tony Zhang PhD, CFA and RIch Excell CFA, CMT are back for another episode. We ask the rhetorical question "is the market macro?' We know you know the answer and are frustrated by it.  However, the 'macro' might be driving the rally even more than the sell-off. This macro has little to do with the Iran War!   Have a listen to find out
• Macro Matters - it's no April Fools, the Iran War is all that matters right now 01.04.2026 49นาที

  Tony Zhang PhD, CFA and Rich Excell CFA, CMT discuss what may be the most macro of markets since we started Macro Matters. It may seem obvious, but right now, the Iran War is all that matters. What are the scenarios investors should worry about? What are the key indicators to watch to know which scenario may be playing out?  Have a listen to find out
• Macro Matters - is it too oily? 09.03.2026 41นาที

  Tony Zhang and Rich Excell are back with another episode of Macro Matters The market has presumably moved on from its AI concerns and is now focused on another big problem all together - the conflict in the Middle East. Oil prices have moved about $100. What are the impacts? What are investors doing? Tune in to find out
• Macro Matters - why is everyone so negative? 23.02.2026 43นาที

  Tony Zhang, Blaine Reed and Rich Excell are back and the topic is negativity. There is so much negative sentiment in the markets right now. What is driving it? Is it based on reality or is this a buying opportunity? 
• Macro Matters - Monday February 9 - is the AI trade over? Is the market doomed? 11.02.2026 54นาที

  Tony Zhang, Blaine Reed and Rich Excell are back to talk about what is happening in the markets. It has been all about AI for the last 2 years. However, don't look now but the US is lagging Europe by 13.5% over the last 12 months and by 19% vs. emerging markets over the same time.  Anyone notice energy besting technology by 20% this year? Is the AI trade over? Is the market doomed?
• Macro Matters - Kicking off 2026! 23.01.2026 41นาที

  Tony Zhang, Blaine Reed and Rich Excell are back with the first episode of 2026. At least nothing has been going on so far this year!  The teams talks about 'Sell America', tech stocks, term premia and capital flows. A lot to cover in a short time This podcast is worth 0.75 PL (continuing education) credits. For those that listened and want their credit for this episode, or others, reach out to info@cfachicago.org  
• Macro Matters - post FOMC show - last one for 2025! 11.12.2025 58นาที

  Tony Zhang, Blaine Reed and Rich Excell get together again to discuss the market reaction to the latest FOMC rate cut. What is the FOMC saying about 2026? What are the various markets thinking? How are Blaine, Tony and Rich trying to navigate the markets?  Have a listen to find out
• Macro Matters - AI, job losses, rate cuts & affordability 17.11.2025 44นาที

  Tony Zhang, Blaine Reed and Rich Excell are back to discuss the macro that matters for the markets.  The latest narratives driving markets are the usual - AI and rates - and the new - job losses and affordability.   Can Fed rate cuts help job losses from AI? Have a listen to find out
• Macro Matters - is the equity market too pessimistic? 03.11.2025 45นาที

  Tony Zhang, Blaine Reed and Rich Excell are back again. What are they talking about? AI Is there anything else to talk about? Seriously though.  What about yield curves and credit spreads and Fed policy and US/China trade talks and earnings analysis and seasonal stock patterns?  Yep, covered that too.  For a recap of the last 2 weeks and what to look for going forward, have a listen.  Remember to like/share/subscribe
• Macro Matters - Oct 22: growth, earnings, oil and inflation 23.10.2025 46นาที

  Blaine Reed, Tony Zhang and Rich Excell are back to cover all of the topics in the market: Are all assets now convinced that growth is falling? Markets are convinced inflation is gone, but is it? What are we seeing in earnings? Do any stories matter outside of AI?  Have a listen to find out
• Macro Matters - October 3, 2025 - is it that easy? 06.10.2025 52นาที

  Tony, Zhang, Blaine Reed and Rich Excell are back to discuss the latest on the job market, rate cuts, financial conditions and the Dollar.  Is now the time to look to Asian markets given the catalysts? Does the Tricolor and First Brands news suggest cracks in the credit markets?   Have a listen to find out
• Macro Matters - it's going to happen, so what? 29.08.2025 36นาที

  The Fed is going to cut rates in September. Some think they shouldn't (Rich Excell and Blaine Reed) and some think they should (Tony Zhang). Whether they should or shouldn't, it will happen, so what will be the response by the markets? What moves are we already seeing? Have a listen to find out
• Macro Matters - the Fed is going to cut, but should it? 15.08.2025 48นาที

  Tony Zhang PhD, CFA, Blaine Reed CFA, AFM and Rich Excell CFA, CMT are back talking about the latest macro that is moving the markets.  CPI, PPI, inflation expectations, AI, productivity, overcapacity and Jackson Hole are just a few of the topics covered.  Please like/share/subscribe as it helps us a lot to get the word out  
• Macro Matters - post FOMC, pre NFP 31.07.2025 39นาที

  Blaine Reed, Tony Zhang and Rich Excell get together to discuss what the FOMC did and should do. The FOMC has a dual mandate of price stability and full employment. Do measures of either suggest the Fed should cut? What does argue for the Fed to cut, housing? But the Fed controls short and not long term rates? Lots covered, lots to discuss
• Macro Matters - is there any inflation and what will the Fed do about it? 14.07.2025 47นาที

  It is July 14 and this is CPI and PPI week. What will we hear on the inflation front? More importantly, what could tariffs and the One Big Beautiful Bill mean for inflation. Finally, what is the Fed to do with all of this information. Tony Zhang, Blaine Reed and Rich Excell are back to discuss these topics and more!
• Macro Matters - rate cuts & Treasury demand 20.06.2025 55นาที

  Its mid-June so it is all about the FOMC.  However, there are a lot of cross-currents out there from a fiscal and regulatory standpoint that may have differing effects on Treasury demand. What are we to do? Hard to say because even the FOMC doesn't know what to do!   Have a listen and let us know what you think