This week’s conversation focuses on how investors are weighing geopolitics against a market that’s showing signs of repair. The episode walks through key economic updates on housing, inflation, and manufacturing, then shifts to the latest Iran developments and what they could mean for energy supply chains, including jet fuel. On equities, the rally is framed as trend-positive but still uneven, with leadership tied to technology and the AI supply chain. On fixed income, the focus is on yield curve dynamics and a more hesitant policy backdrop.

Brian Pietrangelo, Managing Director of Investment Strategy

Rajeev Sharma, Head of Fixed Income

Stephen Hoedt, Head of Equities

02:10 — Quick economic read: housing, inflation, claims, and manufacturing 

06:36 — Iran update and what it means for oil and shipping routes 

10:31 — Equity setup: trend repair, limited breadth, tech leadership 

15:59 — Rates and the yield curve: what’s moving, and why it matters 

20:03 — FedSpeak signals and why rate cuts look further out in the year