The Real Reason Jobs Market Is Weakening | Aahan Menon of Prometheus Macro

In this episode of Monetary Matters, Jack Farley interviews Aahan Menon, CEO of Prometheus Macro, about the current business cycle, focusing on the disconnect between strong economic data and negative sentiment. Aahan characterizes the cycle as an expansion, driven by technology spending and resilient consumer spending on non-cyclical items. They discuss the impact of tariffs, the labor market's weakness due to slowing immigration, and the resurgence of manufacturing. Aahan shares his asset allocation views, favoring equities over U.S. bonds due to overvaluation, and expresses bullish sentiment on industrial commodities and gold. They also explore Prometheus Macro's expanded coverage of global equities and sectors, highlighting the importance of international diversification and the influence of momentum, value, and carry in investment strategies. The conversation concludes with an analysis of liquidity conditions, noting ample repo activity and well-lubricated financial systems.