Shows
The Puck: Venture Capital and BeyondEpisode #109 — Vincent Deluard: Fiscal Dominance, Inflation Waves & the Future of the U.S. EconomyGlobal macro strategist Vincent Deluard joins Jim Baer for a direct, data-driven conversation about the new economic regime taking shape in the U.S. and around the world. Deluard explains why fiscal dominance now outweighs monetary policy, why inflation is proving sticky, and how generational inequality, asset bubbles, and rising deficits are reshaping politics and markets.
A concise, unfiltered look at the forces shaping the next decade of markets, democracy, and everyday life.
2025-11-2551 min
Maggie Lake Talking MarketsEpisode 104: "Energy Is My Highest Conviction Call." With Vincent Deluard.Vincent Deluard, Director of Global Macro at StoneX Group, joins Maggie Lake on Talking Markets to discuss the possibly approaching end of the government shutdown, the relief rally, what he's seeing in inflation, and what he thinks we might get when 6 weeks of missing economic data is finally caught up on. Also on deck: a catch-up on LatAm and China, and what's on Vincent's radar through the end of the year. Follow Vincent on X: https://x.com/VincentDeluardJoin us on Substack: https://themarkethouse.substack.comConnect with us on Twitter: https://x.com/the_markethouse*We know you get...
2025-11-1333 min
Milk Road MacroDebasement, Inflation, and Investing in the Era of Fiscal Dominance w/ Vincent DeluardThe Fed says inflation is under control. Vincent Deluard says: not even close. In this episode, we dig into why inflation is here to stay, why the Fed has become a political tool, and how the era of fiscal dominance is reshaping everything. ~~~~📚 Helpful Resources 📚🥛 The Fed’s running it hot and the bears are wrong 🐂https://link.milkroad.com/macro-fed-analysis-10/05-pod~~~~~🌍 Macro moves markets, get ahead of the game with Milk Road Macro Newsletter:https://link.milkroad.com/pod-macro-f...
2025-10-2347 minMaggie Lake Talking MarketsEpisode 86: Boom or Bubble? With Vincent Deluard.Vincent Deluard, Director of Global Macro Strategy at StoneX, pulls up a chair to chat with Maggie Lake about the bull case for China and Brazil, and the bear case for India and Poland. They also discuss gold's record high, and what to expect from Friday's PCE data, and Vincent updates us on his dollar stance, what's happening in Europe, and what Western society's "addiction to stimulus" means for markets longer-term. Follow Vincent on X: https://x.com/VincentDeluardJoin us on Substack: https://themarkethouse.substack.comConnect with us on Twitter: https://x.com/the_markethouse*We know you get...
2025-09-2232 min
BanklessWhy Recessions Are Dead & How to Invest in The Debasement Era | Macro Investor Vincent DeluardWhy do recessions feel like a relic of the past? Macro strategist Vincent Deluard argues we’ve entered an era where fiscal dominance, structural inflation, and relentless asset debasement reshape how capital flows and how investors must position themselves. We cover the U.S. supercycle, the role of tech and energy, why the “2% inflation target” is dead, and what a portfolio looks like in the age of permanent stimulus.------📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium------BANK...
2025-09-1500 min
Hidden ForcesInvesting in a World of Permanent Stimulus | Vincent DeluardIn Episode 432 of Hidden Forces, Demetri Kofinas speaks with Vincent Deluard, Director of Global Macro Strategy at StoneX Group, where he advises large institutional investors on asset allocation, economic forecasting, and quantitative modeling informed by historical patterns and structural economic analysis. Vincent Deluard and Demetri spend the first hour of their conversation exploring Deluard's macroeconomic framework and the key structural forces that he believes are shaping the emergence of a new macro regime of fiscal dominance, including shifting demographics, politically driven inflation, geopolitical fragmentation, and the decline of institutional trust. The two discuss his provocative thesis that...
2025-08-0458 minMaggie Lake Talking MarketsEpisode 70: Is a Correction Coming? With Vincent Delaurd.Vincent Deluard returns to Talking Markets with a bold thesis: Asia is experiencing a "reverse currency crisis," one that could challenge the US dollar’s dominance and reset how global capital flows. The Director of Global Macro Strategy at StoneX explains why the forces behind the 1997 meltdown have flipped, and what it means for currencies, commodities, and geopolitics. Up for discussion: What's really driving the weakness in the dollar, why Asian currencies could be due for long-overdue strength, and how investors might position with gold, oil, and Latin American currencies. Don't miss out on future episodes - get on th...
2025-07-1540 min
Merryn Talks MoneyWhy Recessions Aren’t What They Used to BeStoneX’s Director of Global Macro Strategy Vincent Deluard joins Merryn Talks Money to explain why he thinks economic downturns are going out of style. He also explains why he sees a July Correction, and how MAGA's war on Corporate America will play out. See omnystudio.com/listener for privacy information.
2025-06-2028 min
Monetary Matters with Jack FarleyThe Fed Will Choose Inflation Over Recession | Vincent DeluardVincent Deluard, Director of Global Macro Strategy at StoneX joins Monetary Matters to discuss why he believes changes to policy makers toolkit and to the structure of the economy mean recessions are “cancelled.” He also discusses why he believes Trump’s MAGA economic policies will be bad for corporate profit margins and his bullish outlook on oil and energy stocks.
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...
2025-06-1557 min
Macro VoicesMacroVoices #483 Vincent Deluard: MAGA vs. Corporate AmericaMacroVoices Erik Townsend & Patrick Ceresna welcome, Vincent Deluard. They’ll discuss why Vincent says recessions have been cancelled by monetary policy, and what he sees on the horizon for asset markets. https://bit.ly/43OuZVM
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2025-06-0558 min
Superinvestors and the Art of Worldly Wisdom#59: Vincent Deluard On The Paradigm Shift In MarketsMore than anyone else I have read, Vincent Deluard has accurately and consistently described in real time the paradigm shift that has taken place in markets in recent years and how it affects the major asset classes that matter most to investors. His macro calls on things like the trends in inflation and the economy have not only been out of consensus, they've been unusually accurate. In this discussion, Vincent shares the fundamentals of his unique approach to macro analysis and how he is putting it to best use today to make sense of the rapidly changing economic environment...
2025-05-211h 08
The Market HuddleGlobal Macro Strategist: “What Everyone Gets Wrong About the Fed”This week, Patrick gets Vincent Deluard’s view on these current market conditions.
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2025-05-101h 23Maggie Lake Talking MarketsEpisode 49: The Great Rotation Into International Stocks Has Barely Started. With Vincent Deluard.The Fed left rates unchanged but Vincent Deluard says the real story is elsewhere. The Director of Global Macro Strategy at StoneX joins Maggie Lake to explain why the 2% inflation target is dead, why investors should fade the 2026 rate cuts, why the move into international stocks is only beginning. You can follow Vincent on X here: https://x.com/vincentdeluard Looking to up your gold and silver holdings? Consider Hard Assets Alliance, a trusted platform holding over $3b in assets: https://leads-inst549-client.phonexa....Disclosure: This is an affiliate link, which means we may earn a commission if you...
2025-05-0736 minMaggie Lake Talking MarketsEpisode 31: Stocks to Rebound, But There's Trouble Ahead. With Vincent DeLuard.Last time Vincent Deluard was on Talking Markets, he made the case for a March correction (which he also flagged in his December report, 'Beware the Ides of March.') Nailed it... So, what does the Director of Global Macro Strategy at StoneX Group have for us this time? He sits down with Maggie Lake to discuss why he thinks stocks may be due for a rebound before a sideways summer and a bloody fall. Also up for discussion: where he sees bond yields going, the impact of tariffs, and the continued indomitability of the US consumer. You can...
2025-03-2436 min
Forward GuidanceThe Bottom Is In For Yields, NOT Equities | Vincent DeluardIn this episode, Vincent Deluard joins the show to discuss his on-the-money inflation calls and future outlook, the consequences of Trump’s tariff flip-flopping, and the buyers of US duration. We also delve into the impact of DOGE, the Trump Admin’s Treasury market goals, the surge in foreign yields, and more. Enjoy!__Follow Vincent Deluard: https://x.com/VincentDeluardFollow Felix: https://x.com/fejau_incFollow Forward Guidance: https://twitter.com/ForwardGuidanceFollow Blockworks: https://twitter.com/Blockworks_Forward Guidance Newsletter: https://blockworks.co/newsletter/forw...
2025-03-121h 05
The Market HuddleHidden Stimulus, Hidden Austerity (Guest: Vincent Deluard)This week, Kevin & Patrick welcome back to the show, Vincent Deluard. They discuss fiscal tightening, inflation, and a potential stagflation bear in 2025. They also break down spending cuts, key trades, tax remittances, and Trump’s impact on the USD and global markets.
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2025-02-071h 05Maggie Lake Talking MarketsEpisode 07: Treasury Market Sell-offs The "New Normal"? with Vincent DeLuardMaggie Lake sits down with Vincent Deluard, Director of Global Macro Strategy at StoneX Group, to discuss why liquidity issues, the California wildfires, and other factors may mean Treasury market sell-offs are the “new normal.” They also discuss the risks facing some tech companies as they try to navigate the new Trump administration and where Vincent sees the most opportunity as the MAGA agenda moves forward.
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2025-01-2240 minMonetary Matters with Jack FarleyThe Treacherous Last Mile of Inflation | Vincent Deluard on France, 2025 U.S. Fiscal Drag, COLA Pain, and the U.S. Healthcare Price SpiralVincent Deluard, director of global macro for StoneX, joins Monetary Matters to share why he thinks there is a perfect storm of macro headwinds that in April to May of 2025 may put a halt to the relentless rise in U.S. stocks. Deluard argues that the lower inflation of 2024 will result in a lower cost-of-living-adjustment (COLA) adjustment for 2025 U.S. government programs such as Social Security. He thinks a strong U.S. dollar could dent corporate profits and that state and local governments plan to actually shrink expenditures in 2025. De...
2024-12-151h 21Maggie Lake Talking MarketsEpisode 37: What's Powering the US Dollar & Economy Higher? With Vincent DeluardThe US dollar hit its highest level in a year following the US election. What is driving the rally and what does it mean for the global economy? Maggie Lake sits down with Vincent Deluard, Director of Global Macro Strategy at Stone X, to discuss what some call the US dollar wrecking ball. Vincent also talks about the hidden causes of the US growth miracle and the risk of a second wave of inflation.
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2024-11-1832 minMacro VoicesMacroVoices #454 Vincent Deluard: The Five Body ProblemMacroVoices Erik Townsend & Patrick Ceresna welcome back, Vincent Deluard. They’ll discuss secular inflation, the gig economy, and what Vincent calls the 'shadow lending and savings markets.' He’ll also share his outlook on precious metals post-election and introduce a new theory: The '5-Body Problem.' https://bit.ly/3UT7cQN
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2024-11-141h 18Maggie Lake Talking MarketsEpisode 9: Is Europe headed for a crisis? With Vincent DeluardIn the wake of the Fed pivot on rates, what investments look most attractive? Maggie Lake sits down with Vincent Deluard, Director of Global Macro Strategy at Stone X, to talk about why he is NOT overly worried about US stock valuations, IS worried about Europe and thinks China may be poised to surprise the bears.
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We know you get this, but gotta say it anyway - this show is for informational purposes only and is not financial advice.
#stockmarket...
2024-09-2332 min
Wealthion - Be Financially ResilientWeekly Recap: Fed Cuts! China Slowdown, U.S. Fiscal Bomb & Crypto EurekaIn this week’s edition of Wealthion’s Weekly Market Recap, Andrew Brill shares the most compelling insights from our expert guests.From the state of the federal budget to why credit card rates aren’t regulated, EJ Antoni dives into key fiscal challenges. Michael Howell explores the economic slowdown in China and rising U.S. debt levels, while Noelle Acheson reflects on how much influence politicians really have over the economy. Vincent Deluard rounds out the analysis by breaking down the Fed’s recent rate cut and its potential market and economic implications.
2024-09-211h 03
Wealthion - Be Financially ResilientFed Super-Sized Rate Cut! Vincent Deluard Analyzes the 50 bps CutImmediately after the Fed announced its 50 bps interest rate cut, Vincent Deluard, Director of Global Macro at StoneX, joined Maggie Lake for a live broadcast to discuss its impact on financial markets and the economy. If you missed Wealthion's special broadcast, now is the time to catch up on Vincent’s expert insights and learn what this rate cut by the Fed means for investors.Investment Concerns? Get a free portfolio review with Wealthion’s endorsed financial advisors at https://www.wealthion.com/freeConnect with us online:We...
2024-09-1953 min
The Blockchain Advisor ™70. Vincent Deluard, Crisis of the Core"Now if you think the French civil servants have the tendency to get unruly and decapitate people when they’re pissed; imagine when they’re pissed and not getting paid”.
Join Vincent Deluard, Global Strategist at StoneX, as he unpacks the forces reshaping the global economy. From interest rates to the Yen-USD carry trade, Deluard delivers a bold and provocative take on the 'demise' of Germany, France, and core EU nations as they unravel the post-WWII social contract. Don't miss his eye-opening insights on the seismic shifts ahead!
2024-09-1844 min
Wealthion - Be Financially ResilientA Concerned Fed Will Drive Liquidity & Markets Higher | Michael HowellIs the Federal Reserve’s shift in focus setting the stage for a major liquidity increase? Renowned global liquidity expert Michael Howell, Founder and CEO of CrossBorder Capital, joins James Connor to discuss the Fed’s economic concerns, its upcoming policy pivot, and the resulting boost in global liquidity, asset prices, and inflation. He also dives into liquidity trends from central banks worldwide, the challenges of rising U.S. debt, strategies for navigating an era of sustained inflation, and much more. Don’t miss this timely discussion, part of Wealthion’s special coverage of the Fed’s Open Market Committee...
2024-09-1852 min
Wealthion - Be Financially ResilientWhy Rate Cuts Won’t Work: EJ Antoni on The Fed & U.S. Fiscal CrisisE.J. Antoni, PhD, Economist and Research Fellow at the Heritage Foundation, explains why the Fed’s plan to cut interest rates won’t solve deeper economic problems—such as runaway government borrowing and record deficits—that threaten American financial stability. He uncovers how the Fed is at loggerheads with the US Treasury, creating a dangerous conflict between monetary and fiscal policy that exacerbates inflation, unemployment, and high credit costs, impacting American households. E.J. joins Wealthion’s Andrew Brill as part of our special coverage of the Fed’s Federal Open Market Committee this week, highlighting the urgent need for fis...
2024-09-1755 min
Registered Investment Advisor PodcastKen Fisher’s Mentorship and Investing InsightsMichael Cannivet, CFA, is the founder, president, and chief investment officer of Silverlight Asset Management, LLC, an RIA based in Newport Beach, California, that serves high-net-worth private clients. Mr. Cannivet has been a Forbes contributor since 2017 and Forbes Books recently published his latest book, The Four Minute Retirement Plan: Preserve Your Past, Secure Your Future, Live For Today. The book debuted as the #1 new release for the money management category and is endorsed by several top industry practitioners, including Ken Fisher, Joel Greenblatt, Keith McCullough, and Vincent Deluard. Listen to this insightful RIA episode...
2024-09-0416 min
The David Lin ReportMarkets Tank On Economic Collapse Fears: Start Of Bigger Crash Or Overreaction? | Vincent DeluardMoomoo U.S: New users that enroll in Cash Sweep can earn 5.1% APY+3% APY booster + up to 15 free stocks with a qualified deposit
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Vincent Deluard, Director of Global Macro Strategy, discusses the latest market sell-off, economic data, and outlook for economic growth.
*This video was recorded on September 3, 2024
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2024-09-0438 minThe Market HuddleCrisis At The Core (Guest: Vincent Deluard & Kuppy)This week Kevin and Patrick welcome back to the show, Vincent DeLuard from Stone X. They discuss the French election and reveals his two best trades to take advantage of the recent political volatility. Then we have a surprise second guest, with a return of Kuppy’s corner that you don’t want to miss.
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2024-06-291h 51Forward GuidanceInvesting For A Recession-Free Future | Vincent Deluard on Secularly-High Inflation, China’s Currency Crisis, and The Long-Term Debt CycleForward Guidance is sponsored by VanEck.Learn more about VanEck Bitcoin Trust (HODL) http://vaneck.com/HODLFG.VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/us/hodlprospectus.__Follow Vincent Deluard on Twitter https://twitter.com/VincentDeluardFollow VanEck on Twitter https://twitter.com/vaneck_usFollow Jack Farley on Twitter https://twitter.com/JackFarley96Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidanceFollow Blockworks on Twitter https://twitter.com/Blockworks___Timestamps:(00:00) Introduction(12:50) Does China...
2024-05-021h 25
Supply ShockInflation Still Isn't Going Back To 2% | Vincent DeluardThis week Vincent Deluard returns to the show to discuss the most important topic in markets today... inflation. After joining the show in February 2023, Vincent was an early inflationista making the case that inflation would not return to 2%. Well, one year later that call has been correct as inflation remains elevated above the Fed's 2% target. The question is, what happens next? Enjoy!--Follow Vincent: https://twitter.com/VincentDeluardFollow Mike: https://twitter.com/MikeIppolito_Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_
2024-04-2452 min
Macro MondaysMacro Sunday #46 - Inflation in developed markets but not in emerging markets?We host Vincent Deluard for a discussion on inflation trends in the US, Europe but also in China and Lat-Am. Will the Chinese deflation mainly impact EM, while the shrinking labour force of the West will lead to a renewed inflation pressure in Europe- and the US? Remember to use Geo30 to get 30% off your subscription. It is a limited offer. Find out more at www.stenoresearch.com/subscribe Host: Andreas Steno & Mikkel RosenvoldFind our Crypto coverage here -https://stenoresearch.com/category/crypto-moves/FREE macro newsletter - h...
2024-04-2147 min
Real Vision: Finance & Investing#1014 - Ding Dong… Is the Fed’s Inflation Target Dead? | with Vincent Deluard🔥 Festival of Learning: Get your FREE TICKET https://rvtv.io/4ayljkuVincent Deluard, director of global macro strategy at StoneX Group, joins Maggie Lake to discuss why he believes recessions may be a thing of the past, how the Fed has seemingly abandoned its 2% inflation target, and strategies for your portfolio in an inflationary environment.Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries. Learn more about your ad choices. Visit podcastchoices.com/adchoices
2024-04-1241 min
The Market HuddleMH+ Ep.31 Dark Side of The Moon (guest: Vincent Deluard)On this weeks Huddle +, Kevin welcomes back to the show, Macro Strategist for StoneX Group, Vincent Deluard. Kev and Vincent have a great discussion about the markets, the FED and the overall outlook on inflation and deflation.
*Got questions for Kevin and Patrick? Submit your questions to: nostupidquestions@markethuddle.com
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2024-03-1947 min
Real Vision: Finance & InvestingWill Risk Assets Keep Rallying Into 2024?🔥 Cyber Monday: Get 𝟱𝟬% 𝗢𝗙𝗙 across ALL our annual membership tiers https://rvtv.io/40Mle8tHarry Melandri, advisor at MI2 Partners, is joined by Vincent Deluard, Director of Global Macro at StoneX, is here to break down the latest developments in risk assets and the global economy. We'll also take a look at Vincent's Macro Roadmap from the Taylor Swift Hangover to the potential QE he sees by 2026.Join over 5,000 attendees for the largest AI event in Asia at SuperAI Singapore, February 28-29, 2024. Edward Snowden, Benedict Evans, Balaji Srinivasan, and over 150 others will hit the stage — joining the industry...
2023-11-2835 min
Real Vision: Finance & InvestingIs a Second Wave of Inflation Coming? With Vincent Deluard and Raoul Pal🔥 Ledger x RV: The Next Digital Assets Wave. Get Your FREE Ticket https://rvtv.io/3rPaoBzWhile an economic slowdown looms, elevated inflation remains a risk for investors.Vincent Deluard, director of global macro strategy at StoneX Group, joins Maggie Lake to discuss why he thinks the U.S. economy will be hit with a three-punch combo this month, why the steepening of the yield curve may not be over yet, and what it means for risk assets across the board. You can find more of Vincent's work here: https://marketintel.intlfcstone.com/MIPublic/Landing
2023-10-1145 minForward GuidanceVincent Deluard: The “Magic Money” That Prevented Recession Is About To DisappearIn fall 2022 when most economists were anticipating an imminent recession, Vincent Deluard made the bold call that several forms of “stealth stimulus” would prevent the U.S. from entering a recession in 2023. Now Deluard, director of Global Macro at StoneX, returns to Forward Guidance to share why these hidden forms of government stimulus (social security cost of living adjustment, tax-bracket adjustment, etc.) will be less of a factor in 2024, and as such, Deluard expects the U.S. economy to slow. Deluard reaffirms his long-term inflationary view and explains why he is bearish U.S. stocks, and prefers international stocks. Film...
2023-08-291h 06
The Market HuddleMH+ Ep.10: Kevin chats with Vincent DeluardIn this episode of MH+, Kevin is joined by guest favourite Vincent Deluard, Director of Global Macro Strategy from StoneX Group Inc. Kevin and Vincent take a dive into inflation and the upcoming challenges the economy may face.
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2023-08-1900 min
Real Vision: Finance & InvestingIs This a Trampoline Landing? With Vincent DeluardSAVE 60% on 3 months of Real Vision Essential 👉 https://realvision.com/last-chanceVincent Deluard, director of global macro strategy at StoneX Group, joins Maggie Lake to discuss his "Trampoline Landing" theory, why he sees a second wave of inflation coming, and what's making him so bearish equities. In the second half of the show, Vincent explores whether the U.S. has peaked and where to find value in international investments.You can find more of Vincent's work here: https://marketintel.intlfcstone.com/MIPublic/Landing Learn more about your ad choices. Visit podcastchoices.com...
2023-08-1036 min
The Sherman ShowTSS Episode 140: StoneX’s Vincent Deluard on Recession Skepticism, Not Balancing the Books and Going Lighter on DurationDoubleLine Deputy CIO Jeffrey Sherman and Portfolio Manager Samuel Lau welcome StoneX Director of Macro Global Strategy Vincent Deluard to The Sherman Show. Mr. Deluard begins the episode by sharing how his passion for collecting actual paper money and coins ... Read More
2023-05-2552 min
Les Investisseurs 4.0137 – Adapter son portefeuille d’actifs aux changements de contexte macro-économique, avec Vincent Deluard (StoneX)Investis en bourse avec Fortuneo 👉 fortuneo.frOffre toi l'expertise d'un CGP vraiment indépendant
Perdu sur l'orientation à donner à ton patrimoine ? Nicolas Decaudain t'apporte ses conseils d'experts avec objectivité et réactivité.
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DESCRIPTION DE L'EPISODE 🎧
Dans cet épisode sur l'investissement, j'ai le plaisir de recevoir Vincent Deluard, stratège de marché chez StoneX Group.
Vincent nous aide à mieux comprendre la macro-économie pour mieux investir.
Au cours de la conversation, Vincent aborde :
les grands principes de la macro-économie pour les investisseurs privés,
le rôle des banqu...
2023-05-041h 10
WTFinanceThe FED Is No Longer Your Friend with Vincent DeluardInterview recorded - 24th of April, 2023On todays episode of the WTFinance podcast I have the pleasure of speaking with Vincent Deluard, Director of Global Macro Strategy at StoneX Group. During our conversation we spoke about why inflation could be structurally higher for the long term, the impact on cheap capital, cheap goods and cheap labour and how this will effect asset prices moving forward. I hope you enjoy!0:00 - Introduction0:50 - What has been happening in markets?2:35 - What is the path of monetary policy?5:15 - Will we see i...
2023-05-0141 min
Real Vision: Finance & InvestingPrices stay high as investors wonder whether recession will be avoided at a cost.Prices stay high as investors wonder whether recession will be avoided at a cost.Maggie Lake is joined by Vincent Deluard, director of global macro strategy at StoneX Group, to discuss this morning's key inflation data, stress on the banking system, and why infrastructure and chips are 2 reasons the U.S. will not see a recession in 2023. Learn more about your ad choices. Visit podcastchoices.com/adchoices
2023-04-2935 minThe Market HuddleThe Convenient Recession (guest: Vincent Deluard)This week we have the pleasure of welcoming back Vincent Deluard from StoneX. We have a terrific discussion about why the economy might not be as bad as consensus believes, the best way to play the delayed economic weakness, and we find out if Vincent knows his home region of Burgundy better than his adopted city of San Francisco.
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2023-04-212h 04
My Worst Investment Ever PodcastVincent Deluard – Know the Difference Between a Trade and an InvestmentBIO: Vincent Deluard is the global macro strategist for StoneX Group Inc., where he authors weekly commentary on global macro topics and advises pension funds on asset allocation.STORY: Vincent decided to overleverage an ETF during the financial crisis of 2008 in the belief that the economy would bounce back. Interest rates, however, fell, and he lost 70% of his investment.LEARNING: Take into account falling yields and falling inflation. Understand the difference between a trade and an investment. “The more volatile something is, the more likely it will lose its value over time.”Vince...
2023-04-1344 minSupply ShockInflation's Role In The Fourth Turning | Vincent DeluardOn today's episode of On the Margin, Vincent Deluard Director of Global Macro at StoneX joins the show for a discussion on the rise of secular inflation.Being early to the inflation call, Vincent walks through the dynamics that allowed him to spot the rise of inflation, and how it will impact the next decade and beyond. We then dive into the role of inflation during a fourth turning and how this could shift the balance back to labor, contrary to the rise of capital during "the great disinflation. To hear all this and...
2023-02-2250 min
Real Vision: Finance & InvestingInflation Is the SolutionFederal Reserve board members continue to call for more rate hikes, a day after chairman Jay Powell reaffirmed the central bank’s commitment to higher interest rates. Markets are eager to be free of the shackles of inflationary forces and quantitative tightening, but Vincent Deluard of the StoneX Group sees the bright side of this bear market. He joins Ash Bennington to explore how this painful macro regime shift could lead to a better tomorrow.Plus, we’ll hear a clip from Looking for the Upside, where the author Dror Poleg discusses the evolving real estate market in t...
2023-02-0842 min
Resolve Riffs Investment PodcastReSolve Riffs with Vincent Deluard on Sources of Persistent Inflation and Higher for Longer.Our guest this week was Vincent Deluard, Director of Global Macro Strategy at Stonex. StoneX (formerly known as INTL FCStone) is an institutional-grade financial services network that connects companies, organizations, traders and investors to the global markets ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high-touch service and deep expertise. Our conversation covered: Comparing the narratives from other allocators Is the Fed Pivot here now and will there be a soft landing The rise of structural inflation since before COVID and where will it settle Why the Fed is attempting to s...
2022-12-141h 22
What Goes Up5% Inflation for a Decade?Expectations that inflation will normalize to near 2% in the near term will “end in tears,” according to Vincent Deluard, the director of global macro strategy at brokerage StoneX Financial. He contends growth in consumer prices will remain closer to 5% for about a decade. Deluard joined the latest episode of the What Goes Up podcast to explain why he believes inflation will remain stubbornly high and what that would mean for markets. He also reveals what he calls “Silicon Valley’s Seven Deadly Sins.”See omnystudio.com/listener for privacy information.
2022-12-0247 minThe Market Huddle7,8,9,10, Then Venezuela (guest: Vincent Deluard)This week we welcome to the show,Vincent Deluard from StoneX. Vincent comes back to the show to give us an update on inflation. Hint: he doesn’t see it coming down as much as you might think. More importantly, Vincent outlines his new trade to take advantage of this persistent inflation.
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2022-11-042h 41
Real Vision: Finance & InvestingEasy Money Has Hard ConsequencesYesterday, the Federal Reserve announced a fourth consecutive 75-basis-point rate hike, and Chair Jerome Powell aggressively pushed back against any thoughts of a “pivot.” Today, the Bank of England followed the Fed with its own 75-basis-point rate hike, even as it warned what would be the country’s longest recession ever has already started and will continue through 2023 and into 2024. The dollar is strengthening against the pound again, though the prospect of a “soft landing” stateside seems to be growing more and more remote. “The world is confronted with many new threats,” writes Vincent Deluard in his most recent newsletter, “a...
2022-11-0332 minForward GuidanceInflation Will Run Hot For The Rest Of The Decade, Says Vincent DeluardVincent Deluard, head of global macro at StoneX, has been extremely prescient in calling for persistently high inflation. Vincent returns to Forward Guidance to explain why he thinks that inflation will remain close to the 5-7% range over the next decade, due to inflationary demographics, the reversal of globalization, regular energy crises, and declining immigration.Deluard proposes a “holy Trinity” portfolio consisting of energy companies (which benefit from inflation), banks (which benefit from rising rates), and healthcare companies (which perform during a recession and which offer secular growth exposure at much cheaper valuations to the...
2022-10-311h 21
Global Macro Update2023 Stagflation Scenarios… and 3 Sectors to Own NowWhy is inflation so sticky, how long is it going to last, and where should we invest? Show host Ed D'Agostino talks with Vincent Deluard, director of global macro at StoneX, about the trifecta of trends that caused the current inflationary environment... why an economic slowdown won't cure inflation... what to expect for 2023... and the three crisis-proof sectors every investor should own today. For more of Vincent's excellent research, click here for a free trial to his StoneX reports. You can also follow him on Twitter. Don't miss this week's episode of Global Macro Update—listen now!
2022-10-2828 min
Lead-Lag LiveWhy Recession Won’t Kill Inflation With Vincent DeluardWhat if the Fed can't stop inflation?Check The Lead-Lag Report on your favorite social networks.Twitter: https://twitter.com/leadlagreportYouTube: https://www.youtube.com/c/theleadlagreportFacebook: https://www.facebook.com/leadlagreportInstagram: https://instagram.com/leadlagreport Sign up for The Lead-Lag Report at www.leadlagreport.com and use promo code PODCAST30 for 2 weeks free and 30% off. Nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. The content in this program is for informational purposes only. You shoul...
2022-10-0845 min
The Macro Trading FloorDon't Bet Against The Swiss National Bank | Vincent DeluardOn today’s episode of “The Macro Trading Floor,” Andreas and Alfonso welcome Vincent Deluard Director of global macro at StoneX. Vincent outlines the new regime for inflation before taking a deep dive into the labor market and how structural shifts such as demographics & de-globalization are beginning to cause tectonic shifts for global markets. Finally, despite all the headwinds Europe faces, Vincent shares the bull case for a certain sector of the European economy by outlining his actionable trade idea, but to hear that, you'll have to tune in! -- This episode is sponsored by Saxo Bank. Saxo Bank offers unpara...
2022-09-1154 minForward GuidanceA Profit Recession Is Coming, An End To Inflation Is Not | Vincent DeluardIn the spring of 2020, the idea that the world would see persistent inflation was laughed at. No one is laughing now.Vincent Deluard, head of global macro at StoneX, is one of the few macro analysts who foresaw this inflationary spiral to its full extent. He returns to Forward Guidance to explain how in the next leg of this inflationary saga, corporate profits will plummet as unemployment remains low and inflation fails to return to normal levels. Deluard shares several trade ideas and argues that the bear market has only just begun....
2022-06-231h 35
The DerivativeIt’s Not a Fed Put, it’s a Fed Short Call! And more inflation thoughts with StoneX’s Vincent DeluardIn this week's episode, Jeff talks with StoneX's Global Macro Strategist, Vincent Deluard @VincentDeluard, who authors weekly research reports on global macro trends, asset flows, European capital markets, and quantitative topics. We catch him literally right after the Fed hikes 75bps, and learn quickly that Lagarde was an accomplished synchronized swimmer and that having a French accent sure helps selling “French” wine in China. But what about that Fed hike? Are we saved? Are we doomed? Who’s got the cleanest dirty shirt in the global economy this time around?
In this fun chat, Vincent talks about inflati...
2022-06-161h 27
Resolve Riffs Investment PodcastReSolve Riffs with Vincent Deluard on the Historical Trajectory of Inflation and Market ImplicationsVincent Deluard is the Global Macro Strategist for StoneX, where he advises institutional investors on asset allocation and risk management. He joined us for an awesome conversation that covered topics including: His early life in France - expectations for public service but ‘saved’ by a scholarship to study abroad Bitten by the ‘quantitative bug’ from the very start of his career How his macro framework evolved Inflection points in the mega trends that have endured for the last 40 years Concerns with inflation pre-date the pandemic How COVID ‘shrank’ time Sample of one – why Japanese stagnation should not be extrapolated a...
2022-05-111h 33
The Market HuddleSurprised That Market Is Surprised (guest: Vincent Deluard)This week, Patrick Ceresna and Kevin Muir welcome back Vincent Deluard from Stone X Financial to the show. They have a fascinating discussion about investing in this new inflationary environment, how you should position your portfolio and Vincent even hits us with a Byron Wien surprise that is worthy of his name. *DISCLAIMER*
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2022-02-112h 06Forward GuidanceThe Psychological Toll of Inflation | Vincent DeluardWe're heading for an inflationary decade that will change society as we know it. That's according to Vincent Deluard, director of global macro research at StoneX Group Inc, who argues inflation is not transitory as many insist but rather a feature of the new economic landscape that investors must prepare for. On the seventh episode of Forward Guidance, Deluard gives Blockworks' Jack Farley 5 reasons why high prices are no longer the cure to high prices, including today's tight labor market, the flurry of post-Covid spending packages, and China's withdrawal from its role as an exporter of deflation. Deluard argues t...
2021-11-231h 16
Ipse DixitSharfman & Deluard on Indexing to the S&P 500In this episode, Bernard Sharfman and Vincent Deluard discuss their article, "How Discretionary Decision-Making Has Created Performance and Legal Disclosure Issues for the S&P 500 Index." Bernard Sharfman is a Senior Corporate Governance Fellow at the RealClearFoundation, a member of the Journal of Corporation Law’s editorial advisory board, and a former Visiting Assistant Professor of Law at the University of Maryland School of Law and the Case Western Reserve University School of Law. Vincent Deluard is the global macro strategist for StoneX, where he authors weekly research reports on global macro trends, flows, European capital markets and quantitative to...
2021-07-1553 min
The Acquirers PodcastImpossible Growth: Vincent Deluard of StoneX on gold, inflation, and hypergrowth MAGA stocks with Tobias Carlisle on The Acquirers PodcastVincent Deluard, CFA is a Global Macro Strategist and Director at StoneX. He is a professor of finance at Saint Mary's College and a member of the CFA Society.
Twitter: https://twitter.com/VincentDeluard
Website: https://www.stonex.com/
ABOUT THE PODCAST
Hi, I'm Tobias Carlisle. I've launched a new podcast called The Acquirers Podcast.
The podcast is about finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations.
We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad...
2021-06-2144 minWhat Goes UpOver the BorderlineVincent Deluard, director of global macro strategy at the brokerage StoneX Group, discusses how Mexico and Canada may be primed to benefit from the continued reopening of the U.S. economy following the pandemic.Mentioned in this podcast:Did Capitalism Kill Inflation?Space Aged: Bottle of Wine from Space Station Could Sell for $1 MillionSee omnystudio.com/listener for privacy information.
2021-05-0737 min
The Market HuddleInflation Obsession (guest: Vincent Deluard)In this episode, Patrick Ceresna and Kevin Muir welcome Vincent Deluard from Stone X to the show. They have a terrific macro discussion that you don’t want to miss and we might even figure out what’s up with Vincent’s inflation obsession.
2021-04-232h 10What Goes UpPerpetual Motion StocksAnother week, another record high for stocks – even in the midst of political unrest. Vincent Deluard, director of global macro strategy at StoneX Group Inc., discusses the disconnect between stocks and reality, a so-called “bear market for humans,” his outlook for 2021, and the risk of inflation.Mentioned in this podcast:Stock Market Warns Workers That They’re the Problem for BusinessDay-Trader Heaven Arrives as Tesla, Bitcoin and Stock Options SurgeSee omnystudio.com/listener for privacy information.
2021-01-0840 min
The Alt Asset Allocation Podcast16: Your Stock & Bond allocation and Inflation - Macro Outlook with Vincent DelaurdFor the full audio interview, transcript, show notes and more visit: https://altassetallocation.com/
Vincent Deluard, CFA is the Director of Global Macro Strategy at Stonex.
Vincent joins us to discuss the shortcomings of 60/40 Equity/Bond portfolio, the 8 horsemen of inflation and how to position an investors' portfolio accordingly.
The 60/40 portfolio has been an industry standard for asset allocators for years, with bonds yielding near-zero and equities at all-time-highs, things may change for this 'gold standard' allocation.
Things are changing. We talk about the growing wealth gap, the "boomer CPI" figure...
2020-11-1648 minMacro VoicesMacroVoices #232 Vincent Deluard: The Nuclear Winter of the 60/40 PortfolioMacroVoices Erik Townsend and Patrick Ceresna welcome Vincent Deluard to the show to discuss the shortcomings of 60/40 portfolio, why inflation still hasn’t happened, and if the U.S. dollar is facing the beginning of its demise and more.
Link: https://bit.ly/3iDyBAz
2020-08-131h 00The Market HuddleIs There A Path To Recovery? (guests: Vincent Deluard and Liam Vaughan)In episode #80, Patrick Ceresna and Kevin Muir welcome Vincent Deluard, a Global Macro Strategist from INTL-FCStone. Vincent talks Europe and the problems COVID-19 introduces to the whole European Union, and the generational shift that is about to envelop developed economies and what that might mean for markets in the future. Then they welcome special guest, Liam Vaughan, the author of Flash Crash: A Trading Savant, a Global Manhunt, and the Most Mysterious Market Crash in History to talk about his book and the story of Nav Singh Sarao.
2020-05-152h 28What Goes UpDeath of the Buyback?This is a year when unthinkable events have become commonplace. That has some investors wondering if the Federal Reserve could end up making what was previously an unthinkable move: purchasing stocks. Vincent Deluard, global macro strategist for brokerage INTL FCStone, discusses.Mentioned in this podcast:With Stocks Buybacks Halted, We’ll See How Much They MatterStock Fear Gauge Falls to Nine-Week Low After Topping 2008 HighsSee omnystudio.com/listener for privacy information.
2020-05-0834 min
Odd LotsDid Passive Investing Fuel A Bubble In Ultra-Large Tech Stocks?Questions continue to arise over the effect of passive investing, and whether or not it's somehow distorting the market. On this week's episode, we speak to Vincent Deluard, the Director of Global Macro for INTL FCStone Inc., who argues that the endless bid for ETFs have helped fuel a bubble in megacap stocks, which continue to outperform the market.See omnystudio.com/listener for privacy information.
2020-03-0941 min
Rethinking the DollarNegative Interest Rates Don't Work w/ Vincent DeluardThose who had hoped that things could not get worse with the monetary policy of the European Central Bank (ECB) have been proven wrong. At its last meeting on 25 July 2019, the Governing Council of the ECB kept interest rates unchanged: the main refinancing rate was kept at 0.00% and the deposit rate at -0.40%. At the same time, however, ECB President Mario Draghi has prepared the ground to lower interest rates even further in the coming months. What is the reasoning behind that?
During this interview Vincent Deluard shares his thoughts on why. Watch the interview here:
2019-08-2930 min