Bank failures and a real estate crunch could pose problems for the economy. Join Barron's Managing Editor Daren Fonda and Joseph Kalish, Chief Global Macro Strategist at Ned Davis Research, for a look at what's ahead.

Daren Fonda
Managing Editor, Barron's
Daren Fonda joined Barron's in February 2018 as a senior writer on the investing strategies team. He has covered financial markets for more than 15 years at publications including Kiplinger's Personal Finance, SmartMoney, and Time magazine.
Joe Kalish
Chief Global Macro Strategist, Ned Davis Research Group
Joseph Kalish is the Chief Global Macro Strategist for Ned Davis Research Group. He has been
following and studying financial and economic trends for over 30 years. He and his team are
responsible for all of the firm’s bond and economic analysis.

Joe authors several publications. He writes on global and U.S. fixed income strategy and trends twice a week. Joe is a regular contributor to other macro publications, including Featured Reports, the U.S. Economic Focus, and the U.S. Daily Economic Perspectives.

The Macro team also assists the firm’s equity strategists by identifying relevant economic trends and fundamental themes and providing historical market perspectives. They collaborate with the Global Strategy team and provide economic analysis through global and regional commentary. They also work closely with the U.S. Strategy team in helping to formulate the economic outlook for the major sectors of the economy. In recent years, Joe has been particularly focused on credit trends and credit- sensitive sectors of the economy, including residential and commercial real estate, automotive, banking, manufacturing, and trade and has written extensively on these topics.

In addition to the bond and economic analysis, Joe has held a number of other positions since joining the company in July 1986 including: editor of Industry Watch (an analysis of equity group trends), editor of Techno Fundamental Ranks (a stock screening service), and associate editor of Stock Market Strategy. Joe was also a portfolio manager and trader for an equity mutual fund for five years.

Joe is a member of the National Association for Business Economics. He is regularly quoted and interviewed by the financial media in the U.S. and internationally, and is a sought-after speaker and presenter.

Joe received his Bachelor of Science degree in Information Systems Management cum laude from the University of Maryland and his Master of Business Administration degree in Finance, with distinction, from Stern School of Business of New York University.
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