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The Speculation Phase Begins | Michael Howell on Liquidity Cycle, China, Fiscal Dominance, and Dollar Weakening
Manage episode 498084723 series 3627237
This episode of Monetary Matters is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH): http://vaneck.com/SMHJack
Learn more about the VanEck Fabless Semiconductor ETF (SMHX): http://vaneck.com/SMHXJack
Michael Howell of Crossborder Capital returns to Monetary Matters to share a strategic update on his reading of the liquidity cycle. A weakening U.S. Dollar is allowing many central banks around the world to ease. With large amounts of monetary easing from China’s central bank (PBOC), falling fixed-income volatility, and a shortening of the U.S. debt term structure, which Howell calls “not yield curve control yield curve control,” Howell sees a bullish liquidity backdrop throughout the end of the year into 2026. Recorded July 21, 2025.
Follow Michael Howell on Twitter https://x.com/crossbordercap
Follow Jack Farley on Twitter https://x.com/JackFarley96
Follow Monetary Matters on:
Apple Podcast https://rb.gy/s5qfyh
Spotify https://rb.gy/x56dx5
YouTube https://rb.gy/dpwxez
148 episodes
Manage episode 498084723 series 3627237
This episode of Monetary Matters is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH): http://vaneck.com/SMHJack
Learn more about the VanEck Fabless Semiconductor ETF (SMHX): http://vaneck.com/SMHXJack
Michael Howell of Crossborder Capital returns to Monetary Matters to share a strategic update on his reading of the liquidity cycle. A weakening U.S. Dollar is allowing many central banks around the world to ease. With large amounts of monetary easing from China’s central bank (PBOC), falling fixed-income volatility, and a shortening of the U.S. debt term structure, which Howell calls “not yield curve control yield curve control,” Howell sees a bullish liquidity backdrop throughout the end of the year into 2026. Recorded July 21, 2025.
Follow Michael Howell on Twitter https://x.com/crossbordercap
Follow Jack Farley on Twitter https://x.com/JackFarley96
Follow Monetary Matters on:
Apple Podcast https://rb.gy/s5qfyh
Spotify https://rb.gy/x56dx5
YouTube https://rb.gy/dpwxez
148 episodes
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