The Derivative It’s Not a Fed Put, it’s a Fed Short Call! And more inflation thoughts with StoneX’s Vincent Deluard
In 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 inflation, deflation, stagflation, and even some greenflation….but don’t insult him by saying he’s an economist. He’s a researcher, making calls and taking stands. We dig into his early inflation call, what different Inflation hedges look like, his unhappiness with Silver, commodity supercycles, the ticking corporate debt timebomb, a potential short squeeze to end all short squeezes in the Japanese Yen, and so much more! Vincent also gives us a hot take...that the real pain is yet to come?! Yikes..except he does it all with a smile and charm. SEND IT!
Chapters:
00:00-01:50 = Intro
01:51-09:32 = Le Tour de France, selling fake French wine & a Live Fed report breakdown
09:33-22:20 = Inflation is here to stay, Stagflation, Deflation & why Japan is a sample size of 1
22:21-35:06 = You’re not Long a Fed Put, the Fed’s Short Gas Price Calls
35:07-50:29 = Inflation Hedges, Energy as the best driver & Commodity super cycles
50:30-57:43 = Companies aren’t going to be able to cover the debt service, joining Toxic blobs
57:44-01:17:23 = World Tour: Japan, Swiss Milkshakes, Norway, China, Brazil - & Pick your fighter
01:17:24-01:27:47 = Hottest Take: Real pain & a Second Leg Down
Follow along with Vincent on Twitter @VincentDeluard and check out StoneX.com for more information.
Also, don't forget to check out Vincent's Global Macro reports and sign up for a free trial!
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