Andreas Steno and Mikkel Rosenvold are back with the latest Macro Mondays to discuss the latest escalation in the Middle East and what the impact might be; a slowdown in Korean chip exports and what it tells us about the health of the AI trade; and a worrying new trend in the U.S.-China rivalry. Monarch is the personal finance app that tracks everything – accounts, investments, savings, and spending. Use code REALVISION at Monarch.com to get your first year half off at just $50. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Why Did the Iran War Restart? | Macro Mondays, July 13, 2026

Real Vision: Finance & Investing

Summertime is maybe good, Summertime is maybe shit. It's Macro Mondays, pick your screen, Macro Mondays. Hello out there, welcome to Real Vision, welcome to Macro Mondays. My name is Miguel Rosemol, your usual host and as usual I'm joined by Andreas Steno Larsen.

And while I'm sending to you from rainy Copenhagen, Andreas, you're live with us from the warmth of Corsica. Andreas, before I get to ask you about the elephant in the room behind you, let's start with the other elephant. Do we need to worry about oil again? I thought the war was over. Well, I don't think you should ask me that question whether the war is over.

I think I've called it over like three or four times, but I actually don't think the oil math looks that bad compared to say March or April. So I'm not worried as we speak, but of course we cannot live with a closed rate for the rest of the year. So it depends on your time horizon, Mikl. That's the long answer to the short question. And what's the big trade you're looking at right now, Andreas? I think the big trade that everybody's looking at is the memory stocks.

You know, we have we've had bizarre volatility on Friday and on Monday here again in some of the names that everybody's involved in. So, you know, I think we're approaching a point where it looks incredibly tempting to buy the dip here in memory. Absolutely. We'll dive much more into this, including a look ahead at the prints this week and all the news that we're going to be getting on the inflation picture. They're obviously heavily influenced by oil.

Why Did the Iran War Restart? | Macro Mondays, July 13, 2026

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Why Did the Iran War Restart? | Macro Mondays, July 13, 2026

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.