Natural Resource Stocks host Andy welcomes Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, for a powerful look at the late-stage euphoria driving today’s markets. McGlone explains why the extraordinary divergence between gold up 52 percent and crude oil down 16 percent may be the loudest warning since 2008.
From liquidity excess to risk-asset mania, McGlone breaks down how the stock market has become the economy itself — and why that’s dangerous. He highlights Bitcoin’s weakening correlation, the signs of a deflationary setup, and why the next major trade could be in U.S. Treasuries.
Key discussion points
- Gold’s surge vs. crude’s collapse — the historic signal investors can’t ignore
- Crypto and ETF euphoria as a classic late-cycle blow-off
- Liquidity illusion and the “wealth-creation machine” of U.S. equities
- Lessons from 1929, 1989 Japan, and 2008 for traders today
- How China’s deflation and falling yields expose global fragility
- Why long-term Treasuries may quietly become 2026’s best trade
McGlone blends decades of trading and analysis with clear-cut data from Bloomberg Intelligence, offering real-world insight for investors navigating an overheated market where “everything has to stay up.”
Guest – Mike McGlone | Senior Commodity Strategist, Bloomberg Intelligence
Host – Andy | Natural Resource Stocks
Follow Mike McGlone https://x.com/MikeMcGlone11
• https://www.bloomberg.com/professional/products/bloomberg-terminal/research/bloomberg-intelligence/
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Published by Natural Resource Stocks.
