This episode of MacroMatrix dives deep into the turbulent waters facing U.S. financial markets by mid-2025. Host Ethan is joined by senior financial analyst Tracy to dissect the ominous "triple kill" scenario: a potential simultaneous downturn in U.S. stocks, a rise in Treasury yields, and a weakening dollar.

Tracy unpacks the core drivers, from a persistently large federal budget deficit and surging U.S. Treasury term premiums to the highest levels in over a decade, to unpredictable trade policies and shifting foreign demand for U.S. debt. The discussion explores how these factors could pressure equities through higher discount rates and dampened earnings, why bond yields might continue to rise despite Federal Reserve easing signals, and how the dollar’s traditional safe-haven status could erode.

Drawing parallels from the 2011 debt ceiling crisis and the 2020 pandemic shock, Tracy examines the Federal Reserve's constrained policy options and the viability of alternative safe havens like the Swiss franc and gold. The episode highlights a critical shift in market narrative—from trade war anxieties to a more profound concern over U.S. fiscal sustainability—and its implications for investor sentiment, capital flows, and overall market stability. Essential listening for navigating a precarious financial landscape.