On 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 unparalleled market coverage across fiat, crypto and metals. Moreover, they provide free currency subaccounts and competitive interest rates on deposits in local currencies. Learn more at https://goto.saxo/macrofx -- DAS Digital Asset Summit is crypto's most institutional conference. DAS is the only conference that truly combines the worlds of macro finance and crypto, with speakers like Danielle DiMartino Booth, Mike Green, Jurrien Timmer, Brent Johnson. Visit digitalassetsummit.io and sign up -- Follow Andreas: https://twitter.com/AndreasSteno Follow Alfonso: https://twitter.com/MacroAlf Follow Blockworks: https://twitter.com/Blockworks_ Subscribe To The Macro Compass: https://themacrocompass.substack.com/ Subscribe To Stenos Signals: https://andreassteno.substack.com/ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show: Truss Drafts £130 Billion Plan to Freeze UK Energy Bills: https://www.bloomberg.com/news/articles/2022-09-05/truss-earmarks-130-billion-to-keep-uk-energy-bills-below-2-000 Asset Purchase Facility: Gilt Sales – Market Notice 1 September 2022: https://www.bankofengland.co.uk/markets/market-notices/2022/september/apf-gilt-sales-market-notice-1-september-2022 Putin vs Europe - The Long War: https://themacrocompass.substack.com/p/the-long-war#details -- Timestamps: (00:00) Introduction (00:36) Europe's Reaction to the Energy Crisis (05:17) European Banks Excess Liquidity (06:26) Pricing A Systemic Risk In Europe (09:02) The BoE Secretly Announces Yield Curve Control (11:32) Feature Interview: Vincent Deluard (12:46) The Inflation Regime Shift (15:32) The Labor Market (21:00) Deglobalization Marks A Shift In The Labor Market (31:07) Long Duration in US Markets (35:01) The US Dollar Wrecking Ball (38:09) Vincent's Actionable Trade Idea (43:29) Post Interview: Final Thoughts (45:50) A "Techtonic" Shifts in Global Markets (51:41) Vincent's Actionable Trade Idea Thoughts -- Disclaimer: Nothing discussed on The Macro Trading Floor should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
