Episode 85: Bonds the Surprise Winner? With Vincent Deluard

Market volatility and the sustainability of the current equity rally signal a potential structural bear market rather than a temporary correction. The AI sector, characterized by extreme valuations and growing public resentment, faces regulatory and political headwinds that may force a pivot toward more socially acceptable applications, such as healthcare. This makes healthcare a strategic defensive sector, as AI labs seek legitimacy through breakthroughs in biotech and administrative efficiency. Meanwhile, long-term treasuries offer tactical appeal due to liquidity management and potential fiscal gridlock, even as inflationary pressures persist. Investors are increasingly looking beyond U.S. borders, with Canada emerging as a resilient, commodity-driven alternative, while China remains a complex, potentially stimulative play as global trade dynamics evolve. Vincent Deluard, Director of Global Macrostrategy at StoneX, highlights these shifts, emphasizing that navigating the current environment requires moving away from traditional "buy the dip" mentalities toward defensive, value-oriented positioning.