Episode Details

Recorded on April 14 2026 Steve Yang sits down with Laurent Lequeu of The Macro Butler for a hard-hitting macro conversation on why markets may be dangerously underpricing a much longer Middle East conflict and a far bigger commodity shock ahead. Laurent argues that even if headlines sound calmer, damaged energy infrastructure, displaced shipping routes, and missing industrial inputs could keep oil and supply chains far tighter than most traders expect. He breaks down why fertilizer, helium, sulfuric acid, semiconductors, and mining inputs matter far more than most investors realize, and why those second-order effects could drive food inflation, metals…