How Much Longer Can This Cycle Run?

Andreas Steno and Mikkel Rosenvold are back to tackle the question that matters most for markets right now: are we still mid-cycle, or are the warning signs of a late-cycle economy starting to pile up? They also head to Europe, where surging French bond yields, political uncertainty, and renewed concerns over the country’s finances are putting pressure on French assets. Is the turmoil a genuine warning for investors — or exactly the kind of dislocation you should be buying? Plus, Andreas and Mikkel revisit purchasing power parity and ask how useful PPP really is when trying to figure out where currencies should trade.

The markets are wide open right now. Crypto, AI, entire sectors repricing. You don't need a finance degree to play anymore. You just need someone to hand you the map.

That's Real Vision. The place where the best minds in macro and crypto break down what's moving, with the research, tools and community to help you make your own calls.

🏆 The Real Vision Trading is now open! The best trade ideas on the platform compete for $80,000 in cash. Register before October 15 to secure your spot.

📈 Trading League: https://realvision.com/your-future

Timestamps:
00:00 - Macro Mondays October 5, 2026
00:22 - Mid-Cycle or Late-Cycle? The Big Macro Question
02:14 - GDP vs PPP: Is Russia’s Economy Really Smaller Than the UK’s?
05:15 - Why Energy and Food Self-Sufficiency Matter More in a Crisis
07:21 - Iran War Update: Why Oil Flows Are Better Than Before the War
10:56 - Can a Democratic Midterm Sweep Derail the AI Buildout?
14:32 - ISM Services Miss: Is the US Economy Starting to Slow?
17:55 - France in Turmoil: Are Markets Pricing in Too Much Political Risk?
20:39 - Marine Le Pen, French Bonds, and Why France Could Be a Buy
26:09 - Mid-Cycle vs Late-Cycle: Will Central Banks Kill the Expansion?
29:01 - Dollar Strength, Hormuz, and the April-Style Setup Returning


#macromondays #macro #mikkelrosenvold #andreassteno #stenoresearch

🔥 Get 𝗙𝗥𝗘𝗘 𝗔𝗖𝗖𝗘𝗦𝗦 to Real Vision https://rvtv.io/3YOZZUe

Connect with Real Vision™ Online:
YouTube: youtube.com/@RealVisionFinance
Twitter: https://rvtv.io/twitter
Instagram: https://rvtv.io/instagram
Website: https://rvtv.io/3Y4t5Pw

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf