ReSolve Riffs with Vincent Deluard on the Historical Trajectory of Inflation and Market Implications
Vincent 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 as the path for other countries
- The demographic collapse in East Asia
- Views on MMT – analytical tool more than policy framework
- The ‘incestuous’ relationship between central banks and their governments’ treasuries – from the left pocket to the right
- The ‘fairy tale land’ of the Fed’s economic projections
- Inflation as the last painful path to ‘clean up’ excess debt in the system
- US, Europe, China, and Japan – immigration dynamics and long-term prosperity
- Analogues with the post-WW2 and 1970s inflationary periods and why this time is likely different
- The risk that inflation continues to accelerate – the expectation channel
- The ‘kink’ in the Eurodollar curve
- Are there viable alternatives to the US dollar?
- How investors should rethink and broaden their asset allocation approach
- And much more
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.
Listen on
Subscribe on
Subscribe on
Google Podcasts
Subscribe on
Vincent Deluard
Director of Global Macro, StoneX
Vincent is the global macro strategist for StoneX, where he authors weekly research reports on global macro trends, flows, European capital markets and quantitative topics. Vincent advises large pension funds and other institutional investors on asset allocation and risk management.
Prior to joining StoneX., Vincent served as the Europe Strategist for Ned Davis Research Group. In November 2013, Vincent was awarded the Euromoney Padraic Fallon Editorial Prize for his in-depth study of the investment opportunities offered by the European debt crisis.
Prior to joining Ned Davis Research, Vincent was the Executive Vice President of TrimTabs Investment Research, where he headed the firm’s quantitative research. Vincent designed and traded large and profitable strategies based on supply and demand indicators for top-tier hedge funds.
Vincent is frequently quoted in the Financial Times, Wall Street Journal, Bloomberg, and Barron’s. Vincent taught Ethical and Professional Standards and Private Wealth Management for the CFA Society of San Francisco.
Vincent is an adjunct professor of finance for Saint Mary’s College Master’s in Finance and taught at Golden Gate University’s Executive MBA program.
Vincent is a CFA charterholder. He completed a dual master’s degree at Sciences-Po Paris (Cum Laude) and Columbia University and speaks English, French, Italian, and Indonesian.
*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.