Global Rewire

As the artificial intelligence infrastructure boom shifts the global economy from "asset-light" software to "asset-heavy" physical expansion, corporate balance sheets are telling a complex story. In this episode, we sit down with Christian Leuz (University of Chicago, Booth School of Business) to break down the accounting realities behind the multi-trillion-dollar AI buildout. From capitalized leases and stock-based compensation to depreciation timelines and long-run economic profits, we explore what financial statements actually reveal and conceal about the future of AI.

In this episode of the Global Rewire podcast, we are joined by Columbia Business School professor Stijn Van Nieuwerbugh to examine the massive financial infrastructure supporting the artificial intelligence boom. The discussion unpacks the unprecedented scale of the projected data center buildout, potential systemic risks across leveraged credit and public markets, and the fundamental question of whether future demand and pricing can support trillions in capital expenditures.Read Stijn's recent paper at Brookings:https://www.brookings.edu/articles/financing-the-ai-buildout/

In this episode of Global Rewire, U.S. Correspondent for Corriere della Sera Viviana Mazza breaks down the long-term shifts in American politics and transatlantic relations in a post-Trump era. Drawing from her extensive reporting on White House operations, presidential campaigns, and international summits, Mazza shares insights from her latest book, L’America che verrà. Dopo Trump, examining how the political landscape has permanently evolved.The discussion explores the broader implications for U.S.-European diplomacy, foreign policy alignment, and the domestic political realignments redefining American society. Mazza provides a front-row perspective on how international observers and domestic institutions are adapting to these structural changes, offering sharp insights into the future trajectory of global power dynamics and Western alliance structures.

In this episode of Global Rewire, we welcome back Guy Debelle, former Deputy Governor of the Reserve Bank of Australia (RBA) and board member at the Clean Energy Finance Corporation. Guy breaks down the recent global bond selloff, explaining why long-end yields are reaching multi-decade highs and exploring the structural forces driving real rates up across major economies.Guy offers a former central banker’s perspective on US Treasury interventions, covering recent buybacks, FX market interventions, and communication friction between central banks and fiscal authorities. Turning to Australia, we explore the local economic landscape, highlighting the contrast between a cooling housing market and a resilient real economy. Finally, Guy highlights how green energy mandates for new data centers are influencing energy infrastructure, capital expenditure, and investment flows across Australia and international markets.

In this episode of the Global Rewire podcast, we sit down with Nathan Sheets to dissect the sudden global sell-off across bond markets. The discussion explores the underlying drivers of surging yields, key takeaways from Chairman Warsh's Jackson Hole speech, central bank independence, and the looming fiscal and monetary policy challenges created by mounting debt and massive investments in Artificial Intelligence.

In this episode of Global Rewire, we dive deep into the macroeconomic forces reshaping global markets, monetary policy, and corporate financing. Joined by executive professor and former bank supervision official Jill Cetina, the conversation unpacks the Federal Reserve’s evolving policy playbook, the complexities surrounding the neutral rate of interest (R-star), and whether current inflation targets remain realistic in today’s volatile landscape.The discussion explores how massive debt issuance—driven in part by corporate tech expansion and hyperscaler infrastructure investments—is applying unprecedented pressure to the yield curve and broader market liquidity. From bank capital regulations and systemic risk to the subtle ways central bank missteps can distort financial conditions, this episode offers an essential, high-level breakdown for investors, policymakers, and macro strategists trying to navigate the new economic reality.

In this episode of Global Rewire, hosts Craig Torres and Fabio Natalucci sit down with Dr. Julia Coronado, founder of Macro Policy Perspectives and former Federal Reserve economist. They discuss the underlying complexities of the US labor market, how tech Capex and the AI boom are reshaping growth without necessarily driving employment, and why fiscal policy choices leave the Federal Reserve with little room to ease monetary policy.

In this post-FOMC watch party, the team breaks down the latest Federal Reserve meeting, the market's immediate textbook reaction to monetary policy easing, and why the Fed ultimately chose to hold interest rates steady despite years of above-target inflation. The panel dives into the complex macroeconomic forces at play—including global supply shocks, tariffs, oil prices, and the counterbalancing effects of the AI-driven productivity boom.

In this episode of the Global Rewire podcast, hosts Craig Torres and Fabio Natalucci sit down with Jeff Currie (Senior Adviser on Energy Markets) and Jason Thomas (Head of Global Research and Investment Strategy) from the Carlyle Group. Together, they break down the deceptive quiet in the crude oil markets, the reality behind recent Middle East ceasefires, and why the global race for power is rapidly shifting from pipelines to electrons.

Join us every week for a recap of the week and a look ahead in markets and monetary policy.