Behind the Markets Podcast

Show from 01/31/25 Host Jeremy Schwartz and Professor Siegel discuss key market developments this week, covering the Fed meeting, the impact of DeepSeek on AI and chipmakers, and the potential consequences of new tariffs. The Prof notes that while the Fed’s latest move wasn’t highly consequential, the removal of certain inflation-related language raised some market expectations. He also highlights...

Show from 01/24/25 Chris Gannati and Jeff Weniger host this week’s Behind the Markets, sharing insights on the latest market trends. They discuss inflation metrics like CPI and PPI, noting stable progress in controlling inflation, and emphasizing confidence in Federal Reserve policy adjustments. (15:33) Chris and Jeff delve into European markets' performance and shifting investor sentiment, partic...

Show from 01/17/25 Host Jeremy Schwartz and Professor Siegel open this week’s episode by discussing recent market trends, focusing on strong economic data, positive retail sales, and moderating inflation. The Professor emphasizes that bond yields are likely to climb above 5%, while highlighting Bitcoin’s current momentum and potential developments in the broader crypto market. He concludes with co...

Show from 01/10/25 Host Jeremy Schwartz and Professor Siegel kicked off the episode by discussing the robust job market, the recent surge in inflationary expectations linked to tariffs, and the outlook on interest rates amid real growth concerns. Professor Siegel noted the resilience of commodity prices, the potential for higher long-term rates, and his skepticism about significant rate cuts in 20...

Show from 01/03/25 Host Jeremy Schwartz and Professor Siegel began the first episode of 2025 by reflecting on the market's robust end to 2024 and the economic outlook for the new year. Professor Siegel emphasized the strong but balanced economic data, predicting no changes in Federal Reserve policy for 2025 and cautioning about potential corrections in the market. He discussed key risks, such as n...

Show from 12/20/24 Host Jeremy Schwartz and Professor Siegel recap the Fed’s recent rate cuts and their implications for 2024. Professor Siegel discusses the market's reaction to the Fed’s decisions, inflation indicators, and the evolving economic outlook, emphasizing potential rotation within the market’s major sectors. (13:13) Jeremy continues with WisdomTree’s macro team—Sam Rines, Christopher...

Host Jeremy Schwartz and Professor Siegel discuss the tech sector's recent surge, focusing on portfolio rebalancing, the inflation outlook, and upcoming Fed decisions. The professor highlights the resilience of tech stocks, potential market corrections, and expectations for future interest rate cuts. (13:00) Jeremy leads a roundtable with Sam Rines, Jeff Weniger, and Christopher Gannatti covering...

Show from 06/12/24 Host Jeremy Schwartz and Professor Siegel discuss recent economic indicators, highlighting stable jobless claims, a neutral unemployment rate, and market reactions to labor reports. The Professor comments on inflation expectations, monetary policy, and a potential December equity rally while cautioning against market consensus. He forecasts moderate Fed rate cuts in 2025 and not...

Show from 11/22/24 Host Jeremy Schwartz and Professor Siegel discuss recent market developments, highlighting a continued strength in jobless claims, the Fed's future rate adjustments, and the implications of Bitcoin's rise toward $100,000. The Prof also shared his perspective on economic indicators such as inflation expectations, with attention to upcoming CPI and employment reports, before concl...

Show from 11/15/24 Host Jeremy Schwartz and Professor Siegel discuss the latest market developments, including CPI and PPI inflation data and its implications for the Fed's policy. Professor Siegel highlights the challenges of higher long-term interest rates and the potential for recalibration in the Fed’s neutral rate estimation. (8:00) Jeremy continues with guest Thomas Lee, founder of Fundstrat...

Show from 11/08/24 Host Jeremy Schwartz and Professor Siegel reflect on the intense week in the markets, touching on the Federal Reserve’s latest rate decision, upcoming economic data, and the potential impacts of political changes following the U.S. election. Professor Siegel also notes the significant market reaction to the election results, particularly regarding fiscal policies, tariffs, and t...

Show from 11/01/24 Host Jeremy Schwartz and Professor Siegel discuss the recent jobs report, with Professor Siegel noting that while the labor market shows signs of slowing, it remains strong enough to avoid immediate recession concerns. They also talk about potential Fed rate cuts and Siegel’s view that bond market conditions may reflect defensiveness around political uncertainties ahead of the e...

Show from 10/25/24 Host Jeremy Schwartz and Professor Siegel cover recent economic trends, highlighting a slight drop in jobless claims and strong third-quarter GDP forecasts. Professor Siegel notes market stability, a potential November Fed rate pause, and rising bond yields driven by election dynamics. (11:10) Jeremy continues with guest Howard Lindzon, co-founder of StockTwits and Social Levera...

Show from 10/18/24 Host Jeremy Schwartz and Professor Jeremy Siegel discuss the latest market trends, starting with strong retail sales, the bond yield increases, and a solid third-quarter GDP outlook. Siegel highlights positive productivity growth and deposit expansion, suggesting that the neutral interest rate might be higher than expected. He also comments on upcoming midterm elections and thei...

Show from 10/11/24 Host Jeremy Schwartz and Professor Siegel discuss the latest inflation data, particularly focusing on the CPI, PPI, and jobless claims. Professor Siegel expresses mixed reactions, noting improvements in the PPI but concerns about other inflation indicators like car insurance and housing costs. He also mentions the market's resilience and optimism despite weaker data, particularl...

Show from 10/04/24 Host Jeremy Schwartz and Professor Siegel open this week’s episode discussing the strong market report, noting gains in productivity despite a decline in hours worked, and the potential for a quarter-point rate cut by the Fed. Professor Siegel highlights the recalibration of long-term interest rates, predicting they may settle around 4-4.5%, and emphasizes the lowered risk of re...

Show from 09/27/24 Host Jeremy Schwartz and Professor Jeremy Siegel discuss the latest market data, focusing on US economic indicators and the impact of monetary policy. Professor Siegel highlights the increase in M2 money supply, home price trends, and the PCE deflator, suggesting the Fed may continue to lower rates. He shares his outlook on the 10-year treasury yield, China's economic stimulus,...

Show from 09/13/24 Host Jeremy Schwartz and Professor Siegel discuss this week’s market movements, highlighting the implications of recent inflation data and the Federal Reserve’s policy outlook. Professor Siegel emphasizes his expectation for a series of gradual rate cuts over the coming months, expressing concerns about the Fed’s pace of adjustments. (15:00) Jeremy continues the conversation wit...

Show from 09/20/24 Host Jeremy Schwartz and Professor Siegel discussed the recent Federal Reserve meeting, with Professor Siegel expressing surprise that the Fed didn't raise rates by a quarter point despite strong data. He explained the Fed's recalibration in its approach, focusing on reaching the long-run neutral rate, which he estimates is around 3.5%. He also shared his expectations for gradua...

Show from 09/06/24 Host Jeremy Schwartz and Professor Siegel discuss the latest jobs report, noting it was weaker than expected but not disastrous. Professor Siegel also highlights concerns about the Fed being behind the curve, the impact of rising rates on the bond market, and his view on where the Fed funds rate should be. (12:47) Jeremy continues with guest Peter Boockvar, CIO at Bleakley Advis...

Show from 08/30/24 Host Jeremy Schwartz and Professor Siegel discuss the latest market data, including recent jobless claims, the inflation outlook, and upcoming Fed decisions. Professor Siegel emphasizes the need for the Fed to lower rates to avoid unnecessary recession risks and comments on the stable but unimpressive economic performance. (09:08) Jeremy continues the discussion with guests Rich...

Show from 08/23/24 Host Jeremy Schwartz and Professor Siegel discuss Powell’s recent speech at Jackson Hole, noting its dovish tone and implications for future Fed rate cuts. Professor Siegel emphasizes the ongoing strength in economic data, such as jobless claims and new home sales, while expressing concern over the timing and scale of rate cuts. He predicts that value stocks, small caps, and div...

Show from 08/16/24 Host Jeremy Schwartz is joined outdoors by guests Jim Bianco, founder of Bianco Research, and Jack Farley of Blockworks and the Forward Guidance podcast. The trio delves into a broad array of topics, including the potential for further interest rate cuts. They discuss implications of persistently high inflation, and the shifting dynamics in the bond and stock markets. Jim Bianco...

Show from 08/09/24 Host Jeremy Schwartz and Professor Siegel dive into the week’s market developments, focusing on the Fed’s approach to interest rates. Professor Siegel strongly argues that the Fed should implement a significant rate cut, possibly 75 basis points. He believes the Fed’s models indicate that the Fed funds rate should already be lower. Siegel also discusses his concerns about the Fe...

Show from 08/02/24 Host Jeremy Schwartz and Professor Siegel discuss the latest market developments, focusing on the recent Fed meeting and the implications of economic data. Professor Siegel criticizes the Fed’s decision to not cut rates despite signs of a weakening job market and increasing jobless claims. He expresses concern over a potential slowdown in the labor market and comments on the Fed...