In this week’s Macro Mondays, James Brodie is joined by James Todd and Will Cunliffe, as they dive into the latest macro shifts shaking global markets.

Trump’s proposed $2,000 “tariff dividend” has injected fresh volatility, lifting gold and equities while raising major concerns around inflation, fiscal credibility, and the Federal Reserve’s next move.

At the same time, US layoffs are accelerating, consumer sentiment has plunged to its second-lowest reading ever, and job openings have collapsed - signalling clear labour-market softness. AI stocks remain under pressure as Michael Burry places heavy short positions, triggering sharp corrections across NVIDIA, Palantir, Meta and other Magnificent 7 names.

Meanwhile, structural imbalances deepen across global markets. AI data centres are driving unprecedented electricity demand, commercial real estate delinquencies are spiking, and US yields fluctuate as traders weigh recession risks versus stimulus-driven inflation. Bitcoin hovers around the critical $100k level as whale liquidation continues and its long-standing correlation with the NASDAQ breaks down.

Key highlights include:
✅ Trump’s $2,000 “tariff dividend” sparks inflation fears
✅ US layoffs spike; consumer confidence hits second-lowest on record
✅ AI stocks sell off sharply as hedge funds rebuild shorts
✅ NASDAQ volatility rises; rotation out of crowded tech trades
✅ AI data centres drive record power demand and grid strain
✅ Commercial real estate delinquencies hit all-time highs
✅ Brent crude drifts lower; refinery outages and sanctions support products
✅ Bitcoin tests key support at $100,000 amid whale selling
✅ Bond markets remain directionless as traders await Fed clarity

📊 Key data releases this week:
📅 Tuesday – UK Retail Sales, UK Employment Data, German ZEW
📅 Wednesday – German Inflation, OPEC Monthly Report
📅 Thursday – UK GDP, UK Industrial Production, Australian Employment
📅 Friday – French Inflation, US PPI

🕒 This episode was recorded on Monday, the 10th of November, 2025 at 12:30 PM BST.

📖Learn directly from James Brodie at Flux Institute: https://fluxinstitute.flux.live/store

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