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This week, we join the Empire podcast to discuss where markets go next from here. After the market sold off in reaction to the Trump tariffs, we deep dive into the bull vs bear case in 2025, Trump's end game, building the perfect portfolio, Coinbase vs Robinhood, is Bitcoin really a safe haven asset & more. Enjoy!
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Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://x.com/theempirepod
Follow Quinn: https://x.com/qthomp
Follow Felix: https://twitter.com/fejau_inc
Follow Santi: https://x.com/santiagoroel
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Follow Forward Guidance: https://twitter.com/ForwardGuidance
Follow Blockworks: https://twitter.com/Blockworks_
Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance
Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx
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Join us at Permissionless IV June 24th - 26th. Use code FG10 for 10% OFF! https://blockworks.co/event/permissionless-iv
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At Ondo, we design institutional-grade platforms, assets, and infrastructure to bring financial markets onchain. We believe that combining the best of TradFi with the best of DeFi will dramatically improve our financial system—making it fairer, faster, and more accessible to all.
Learn more about how Ondo is bringing capital markets onchain at https://ondo.finance/
Ledger, the world leader in digital asset security for consumers and enterprises, proudly sponsors Forward Guidance, where traditional finance meets crypto. As Ledger celebrates a decade of securing 20% of the world’s crypto assets, it offers a secure gateway for those entering digital finance. Buy a LEDGER device today and protect your assets with top-tier security technology. Buy now on https://Ledger.com.
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Timestamps:
(00:00) Turning Bearish In 2025
(10:490 Ads (Ondo, Ledger)
(12:00) How Trump Spooked Markets
(15:46) The Trump & Bessent Playbook
(19:13) The Bull vs Bear Case In 2025
(27:57) Ads (Ondo, Ledger)
(29:07) How To Position Under Trump 2.0
(32:46) Will The Fed Step In?
(36:46) What We Learnt From SVB’s Collapse
(39:43) What’s Trump’s End Game
(44:31) Is Bitcoin A Safe Haven?
(47:24) Building A Crypto Portfolio
(01:01:01) Long vs Short Vol
(01:04:04) Coinbase & Crypto Equities
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before even thinking about, thinking about putting your money into these crazy markets.
In this episode, Mel Mattison joins the show to discuss why he thinks we’re on the cusp of another inflationary bubble, the danger of growing entitlement obligations, and what more yield curve distortions mean for markets. We also delve into how gold could be on track for $50,000/oz, how all this will impact the FX market, and more. Enjoy!
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Follow Mel: https://x.com/MelMattison1
Follow Felix: https://x.com/fejau_inc
Follow Forward Guidance: https://twitter.com/ForwardGuidance
Follow Blockworks: https://twitter.com/Blockworks_
Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance
Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx
—
Join us at Permissionless IV June 24th - 26th. Use code FG10 for 10% OFF! https://blockworks.co/event/permissionless-iv
__
At Ondo, we design institutional-grade platforms, assets, and infrastructure to bring financial markets onchain. We believe that combining the best of TradFi with the best of DeFi will dramatically improve our financial system—making it fairer, faster, and more accessible to all.
Learn more about how Ondo is bringing capital markets onchain at https://ondo.finance/
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Timestamps:
(00:00) Introduction
(00:35) Mel’s Spot-on Market Predictions
(06:30) Macro Drivers of the Market Downturn
(09:04) Treasury Data and Fiscal Impulse
(13:36) Ondo Ad
(14:01) Treasury Data and Fiscal Impulse (Con't)
(15:39) The Anti-Dollar Trade
(23:28) Social Security and Long-Term Economic Outlook
(28:47) Trump Admin’s Grand Agenda
(34:37) Federal Reserve and Inflation
(35:54) Ondo Ad
(36:24) Bond Market and Yield Curve Distortion
(39:32) Yield Curve Distortions & Inflation
(52:52) Currencies and Emerging Markets
(57:57) Gold & Bitcoin
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
