Vincent Deluard Warns of Equities Decline, Bullish on Bitcoin and Gold

Vincent Deluard, StoneX Global Macro Director, indicates that rising Treasury yields, oil prices, and the yen carry trade are nearing a breaking point, potentially impacting equities. He believes markets will remain stable through the midterms and the Anthropic IPO, but warns that AI capital expenditures cannot continue to double indefinitely. After November, Deluard plans to adopt a bearish stance on stocks while maintaining a bullish outlook on Bitcoin and gold. He discusses the implications of rising Treasury yields for long-term dollar debasement, the potential of AI and robotics to alleviate the US debt issue, and compares Bitcoin and gold as hedges against debasement. Deluard also highlights the crisis in France's bond market, Eurozone contagion risks, and signals from yen, oil, and Treasury yields. He anticipates a post-midterm sell-off and suggests that the return of quantitative easing will be favorable for Bitcoin and gold, providing a price outlook for Bitcoin over the next two years.

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