RenMac

By Jeff deGraaf, Neil Dutta, & Stephen PavlickBusiness Investing

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Typical duration
48 min
per episode

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RenMac episodes

August 29, 2025 RenMac Off-Script: China Breakout & Fed Shakeout
This week on RenMac Off-Script, Steve, Jeff, and Pavlik are joined by special guest Josh Brown, CEO of Ritholtz Wealth Management. The team digs into the Fed shakeup after President Trump’s firing of Lisa Cook, the implications for market stability, and whether “norms” still matter in policy. They also discuss the rally in gold, cracks in the labor market, small caps leading equities higher, China’s breakout, and client psychology in a too-good-to-be-true market. Plus: Josh previews the Future Proof Festival, and the crew debates SPAC mania, data center jobs, and what’s on the horizon for September.
49 min
August 22, 2025 RenMac Off-Script: We’ll Take Your Money, Not Your Two Cents
RenMac unpacks why Asian and frontier markets are rallying despite tariffs, how Trump’s industrial policy is morphing into “state capitalism,” the risks of politicizing Fed appointments with the Lisa Cook scandal, and why stagflation fears are misplaced as tight credit spreads argue against recession, even as beta keeps breaking down and momentum holds up
35 min
August 15, 2025 RenMac Off-Script: Money Illusion
RenMac discusses the latest in economic data, including how prices are flattering retail sales; the leap to get the FOMC to support a 50bp move; market leadership from small caps to Asia and the improvement in consumer discretionary relative to staples; and why the government’s stake in Intel is part of a more muscular industrial policy approach to strategic sectors.
35 min
August 08, 2025 RenMac Off-Script: Trump/Powell Play Chicken
RenMac breaks down the sharp rise in effective tariffs and who’s really paying for them, how firms may react to margin pressure with layoffs or price hikes, the macro regime shift that’s pulling markets back to pre-GFC behavior, how game theory is guiding Trump’s Fed chess match and whether or not Waller is already acting as shadow Fed chair
35 min
August 01, 2025 RenMac Off-Script: Summer Soft-Patch
RenMac unpacks the sharp job revisions and weakening prime-age employment suggesting contraction, explores the Fed’s credibility crisis and potential for a September-to-December rate cut cycle, critiques Trump’s strategic positioning on the Fed Chair with Waller as the dark horse and flag narrowing breadth, seasonality risks, and why copper’s news-driven breakout may be a trap.
37 min
July 25, 2025 RenMac Off-Script: Don't Fist Fight the Fed
RenMac talks tariffs and who really bears the burden, Trump’s Fed site-visit and true objective, the narrow market excuse and why it’s more bearish propaganda than insightful utility, and the negative global liquidity story imbedded in JGB normalization and the Yen carry trade unwind.
43 min
July 18, 2025 RenMac Off-Script: Shutdown Surprise
RenMac discusses the Fed Chair race and Trump’s strategy, NVDA-led chip diplomacy with China and crypto legislation, markets ignoring rising shutdown risks, seasonal patterns shifting the beta/momentum trade, and the unusual dynamic of rising rates and falling currencies.
36 min
July 11, 2025 RenMac Off-Script: Tariff Tangle Reignited
RenMac’s crew dives into recent tariff announcements, the unpriced probability of a U.S. Govt shutdown in October, Momentum vs Beta, Fed’s stance on interest rates and surface level employment data, Bitcoin’s breakout and vacationing in Medellin in the summer.
35 min
July 04, 2025 RenMac Off-Script: Payrolls, PMIs & Poolside Predictions
RenMac dives into the July 4th weekend with a fresh look at the payroll surprise, Fed expectations, the global PMI paradox, and whether the market can stomach high rates. Neil unpacks sluggish job growth beneath the headline beat, Jeff outlines the capex-driven cyclicals leading the rally, and the crew debates whether PMIs and yield curves have lost their forecasting mojo. Plus: why financials might shine, how real yields shape allocation, and yes—cucumber gin makes another cameo.
27 min
June 27, 2025 RenMac Off-Script: The Apprentice: Fed Edition
RenMac discusses the case to be made for the next Fed chair, the latest on crude oil, the Middle East, July’s seasonal strength, the perceived disconnect between markets and the economy and the reality of that perception, along with a suggested golf handicap adjustment.
36 min

About RenMac

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Stock market commentary from Wall St thought leaders in strategy, economics, technical analysis and policy. Disclaimer ..........

This Podcast Audio Show has been prepared by Renaissance Macro…

Research, LLC (“RenMac”), an affiliate of Renaissance Macro Securities, LLC.

This Podcast Audio Show is for distribution only as may be permitted by law. It is published solely for information purposes; it is not an advertisement nor is it a solicitation or an offer to buy or sell any financial instruments or to participate in any particular trading strategy. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained in this document. The information is not intended to be a complete statement or summary of the markets, economy or other developments referred to in the Podcast Audio Show. Any opinions expressed in this Podcast Audio Show may change without notice. Any statements contained in this Podcast Audio Show attributed to a third party represent RenMac's interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party.

Nothing in this Podcast Audio Show constitutes a representation that any investment strategy or recommendation is suitable or appropriate to an investor’s individual circumstances or otherwise constitutes a personal recommendation. Investments involve risks, and investors should exercise prudence and their own judgment in making their investment decisions. The value of any investment may decline due to factors affecting the securities markets generally or particular industries. Past performance is not indicative of future results. Neither RenMac nor any of its directors, employees or agents accepts any liability for any loss (including investment loss) or damage arising out of the use of all or any of the information.

Any information stated in this Podcast Audio Show is for information purposes only and does not represent valuations for individual securities or other financial instruments. Different assumptions by RenMac or any other source may yield substantially different results. The analysis contained in this document is based on numerous assumptions and are not all inclusive.

Copyright © Renaissance Macro Research, LLC. 2019. All rights reserved. All material presented in this Podcast Audio Show, unless specifically indicated otherwise, is under copyright to Renaissance Macro Research, LLC. None of the material, nor its content, nor any copy of it, may be altered in any way, or transmitted to or distributed to any other party, without the prior express written permission of Renaissance Marco Research, LLC.