Episode Details

Mike McGlone says gold, copper and even Bitcoin have become "stock puppets," so correlated with the S&P 500 that a 10% drop in stocks could crush them all together. Why the asset you thought was a hedge may not be diversifying you at all.Bloomberg commodity strategist Mike McGlone joins Maggie Lake to explain why nearly every major asset, from metals to crypto to oil, is now trading on the back of one thing: the US stock market. He walks through why gold's push above $5,000 and its pullback are a warning rather than a new bull trend, why copper and Bitcoin are lagging stocks at much higher volatility, why he expects crude and diesel to revert to their cost of production, and why he sees a disinflationary reset coming once equities stall.What McGlone covers:Why gold, copper and Bitcoin have become correlated "stock puppets" of the S&P 500The bond market, the 10-year yield above 5%, and what is really driving itWhy he expects energy prices, especially diesel, to revert sharply lowerGold's exciting volatility as a warning sign, not a reason to chase itWhy he thinks Bitcoin's cycle still points toward a much lower lowGrains, soybeans and the one commodity group that is not a stock puppetWhy a 10% drop in the stock market is the real risk to watch this cycle💡 Gold, copper and Bitcoin may look like diversification, but Mike McGlone argues they could all be more tied to the stock market than investors realize. If your portfolio is counting on those assets to protect you when equities fall, it may be worth taking a closer look.Is your portfolio really diversified?Get a complimentary portfolio review → Go to https://bit.ly/4hQ1DOO to get started.Chapters: 00:00 Is a Deflationary Cycle Coming?01:06 Bond Yields, Inflation & the Fed’s Next Move02:39 Can Commodities and Bond Yields Keep Rising?05:22 Why Oil and Diesel Prices Could Crash08:27 Is Persistent Inflation the Wrong Narrative?12:14 Gold & Silver: Have Prices Already Peaked?17:00 Why Gold Is Acting Like a Risk Asset19:20 Iran, Oil Prices & the War Premium24:25 Are Markets Pricing Too Many Fed Rate Hikes?26:44 “We’re All Stock Puppets”29:21 What Happens If the Stock Market Falls 10%?32:19 Bitcoin to $10,000? McGlone’s Bearish Crypto Call36:52 Is Copper the Next Market to Break?39:37 Corn, Soybeans & the Commodity Supply Cycle44:04 Why McGlone Still Sees Deflation Ahead45:52 Soft Landing or a Major Market Break? Connect with us online: Website: https://www.wealthion.com Spotify Podcast: https://open.spotify.com/show/4wCAfhgUdspxeMqyi6KZkb Apple Podcast: https://podcasts.apple.com/us/podcast/wealthion-be-financially-resilient/id1566889716 X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ Facebook: https://www.facebook.com/Wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose t