The laws of macro investing are being re-written, and investors who fail to adapt to the rapidly changing monetary environment will struggle to keep pace. Felix Jauvin interviews the brightest minds in finance about which asset classes they think will thrive in the financial future that they envision.
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The 10-year just closed at 5.22%, but the pain trade may be even higher.
This week, 40-year rates trading veteran DCP joins us as we examine the bond selloff and what it would take to actually break something and flip the pain trade in bonds.
We explore SOFR hike pricing, AI capex and private credit, diesel's hit to Main Street, market concentration, the quiet consumer stock bear market, and where DCP would finally get long. Enjoy!
TIMESTAMPS:
00:00 Intro
02:21 Why Bond Yields Keep Rising
07:30 Can Main Street Survive Higher Rates?
11:15 Can Treasury Stop The Selloff?
16:22 What Can’t The Fed Fix?
19:54 Why Higher Yields Remain The Pain Trade
23:13 What Breaks The AI Boom?
26:38 The Generational Bond Bull Market Is Over
29:47 Can Geopolitics Reverse The Selloff?
35:55 How Do You Trade This Market?
39:34 Could 6% Yields Break Markets?
44:21 What Is The Market Hiding?
50:04 The Trade After Something Breaks
53:48 Would You Short The AI Leaders?
58:45 Final Thoughts and Key Trade Levels
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› DCP – https://x.com/Dcpcooks
› Felix – https://x.com/fejau_inc
› Quinn– https://x.com/qthomp
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks. –https://x.com/Blockworks
RESOURCES
› Weekly Roundup Charts – https://drive.google.com/file/d/1_6xkDwJy-Ux1Ko3q8H8LmOfbVNk-tTlI/view?usp=sharing
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for. one ofthe biggest weeks in crypto.
Get your TOKEN2049 tickets and 10% DISCOUNT here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=fg&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST
› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
The Fed Is Hiking Into A Growth Slowdown | Weekly Roundup
vendredi 18 septembre 2026 • Durée 01:12:30
What happens when the Fed hikes into fading stimulus, slowing growth, and persistent inflation?
This week, we're joined by Vincent Deluard of StoneX Group to explore America’s emerging stagflation trap, AI’s economic support, and Europe’s potential Japan-style currency reset.
We also discuss the contrarian case for UK equities and Canada’s investment revival. Enjoy!
TIMESTAMPS:
00:00 Intro
01:34 Did The Fed Turn Too Hawkish?
08:10 The Stimulus Boom Is Fading
13:11 The Return Of Stagflation
21:06 Is The Fed Making A Mistake?
25:45 Can Trump Salvage Midterms?
32:35 Why AI Leaders Want Regulation
35:46 Will Europe Follow Japan?
48:45 The European Debasement Trade
59:28 Is The UK The Best Hedge?
01:05:41 Can Canada Reinvent Its Economy?
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Quinn – https://x.com/qthomp
› Vincent – https://x.com/VincentDeluard
› Tyler – https://x.com/Tyler_Neville
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
RESOURCES
› Weekly Roundup Charts – https://drive.google.com/file/d/189_grP_F-bFABLdyh84TJA3GzOlLmIQm/view?usp=sharing
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.
Get your TOKEN2049 tickets and 10% DISCOUNT here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=fg&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST
› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
The Market Is Mispricing A Correlation Shock | Dean Curnutt
mercredi 16 septembre 2026 • Durée 54:02
Historically low volatility may be masking a meaningful shift in market risk and the AI trade.
This week, Macro Risk Advisors CEO and Alpha Exchange Host Dean Curnutt explains why unusually low stock correlations make tail hedging increasingly compelling.
We explore volatility pricing, crowded correlation trades, the Treasury market stress, why AI stocks could suddenly move together, and whether the Fed can calm markets. Enjoy!
TIMESTAMPS:
00:00 Intro
05:08 Why Stock Correlation Collapsed
10:49 What’s Driving The Dispersion Trade?
18:45 Ads (Token 2049, Avalanche Summit)
20:21 Could Volmageddon Happen Again?
27:16 Why Tail Hedging Looks Attractive
35:35 Can Portfolio Insurance Ever Be Free?
39:55 Systematic Or Discretionary Hedging?
42:33 Where Could Market Risk Emerge?
47:27 Can The Fed Calm Markets?
53:22 Closing Thoughts
FOLLOW GUEST
› X – https://x.com/Dcurnutt
› LinkedIn – https://www.linkedin.com/in/dean-curnutt-4060157/
› Macro Risk Advisors – https://www.macroriskadvisors.com/
› Alpha Exchange – https://www.axpod.com/
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
› Get your TOKEN2049 tickets and 10% DISCOUNT here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=fg&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST
› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
The Bond Market Is Trapping The Fed | Weekly Roundup
vendredi 11 septembre 2026 • Durée 45:23
Bond investors are testing whether policymakers can suppress yields without reigniting the inflation they claim to fear.
This week, we unpack the political incentives, stubborn prices, and Fed’s looming credibility test currently testing markets.
We explore the massive increase to Treasury buybacks, a possible one-and-done hike, slowing AI-led growth, if debasement trades are due for a pause, and the growing bipartisan opposition toward AI . Enjoy!
TIMESTAMPS:
00:00 Intro
02:07 Can Bessent Beat The Bond Market?
06:56 Should The 10-Year Yield Be 5.8%?
11:01 The Inflation-Growth Trap
18:29 Ads (TOKEN2049, Avalanche)
20:05 Will The Fed Hike?
26:08 Is One Credibility Hike Enough?
30:29 Is Economic Growth Peaking?
33:04 Can Debasement Trades Keep Running?
37:42 Is The AI Trade Breaking?
43:22 Final Thoughts
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Quinn – https://x.com/qthomp
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
RESOURCES
› Weekly Roundup Charts – https://drive.google.com/file/d/1AJwlll7otUeoen1KdtSLuJZWRTyH8o5O/view?usp=sharing
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.
Get your TOKEN2049 tickets here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=fg&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST
› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
Fiscal Dominance Is Breaking The 60/40 Portfolio | Matt Hougan & Bob Haber
mercredi 2 septembre 2026 • Durée 44:50
The 60/40 portfolio was built for an old regime, but what replaces bonds when fiscal dominance and currency debasement become structural?
This week, Bitwise CIO Matt Hougan and Proficio CIO Bob Haber join the show to explore how hard assets fit into modern portfolio construction.
We discuss how Bitcoin and gold, bond-market risk, fiscal dominance, precious metals, and the Fed’s shrinking influence come together to shape a new investing regime. Enjoy!
TIMESTAMPS:
00:00 Intro
04:38 Is The 60/40 Portfolio Broken?
10:23 From QE To Fiscal Dominance
12:45 Is Bitcoin Digital Gold Again?
18:30 Sizing Bitcoin And Gold
23:59 Why Gold Miners Look Attractive
27:56 The Opportunity In Silver
29:53 Will Central Banks Buy Bitcoin?
32:24 Who Buys $12T Of Treasuries?
36:28 Can AI Solve The Debt Problem?
41:01 Are Bond Investors The Patsy?
FOLLOW GUESTS
› Matt – https://x.com/Matt_Hougan
› Bitwise – https://x.com/Bitwise
› Bob/Proficio – https://proficiocap.com/
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.
Get your TOKEN2049 tickets here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=fg&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST
› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
Druck Calls Out Bessent & Will Jackson Hole Derail The Debasement Trade? | Weekly Roundup
jeudi 27 août 2026 • Durée 53:09
The macro establishment is turning on itself as Stan Druckenmiller challenges Scott Bessent’s efforts to suppress long-term Treasury yields.
This week, we unpack the Druck-Bessent clash and what it reveals about fiscal policy, Fed independence, and market intervention.
We also preview Warsh's Jackson Hole speech this week, potential bond-market manipulation, AI bubble risks, and whether the debasement trade is here to stay. Enjoy!
TIMESTAMPS:
00:00 Intro
02:43 Druckenmiller Calls Out Bessent
05:51 Is Druck Actually Helping Bessent?
08:42 Druck’s AI-Written Op-Ed
13:50 Treasury Escalates Bond Buybacks?
16:05 Why Yield Suppression Fuels Debasement
19:52 Ads (TOKEN2049, DAS Asia, Avalanche Summit)
21:28 Jackson Hole And Warsh’s Dilemma
27:20 America’s Term-Premium Problem
30:43 Anthropic And The AI Bubble
37:48 AI Repeats Crypto’s 2021 Playbook
42:48 Will The Government Bail Out AI?
47:03 The Debasement Endgame
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Quinn – https://x.com/qthomp
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
RESOURCES
› Weekly Roundup Charts – https://drive.google.com/file/d/1zmm4uy9nhYi3TrTaq20oyFD61Uq8anYg/view?usp=sharing
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.
Get your TOKEN2049 tickets here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=fg&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST
› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
Treasury-Led Financial Repression Is Ushering In A Debasement Regime | Weekly Roundup
jeudi 20 août 2026 • Durée 53:42
Treasury is quietly taking control of financial conditions and the market implications could trigger a new wave in the debasement trade.
This week, Felix and Quinn unpack Treasury’s accelerating intervention in long-term yields and why it could reignite the rotation into hard assets as policymakers suppress yields and tolerate inflation.
We explore inflation, dollar weakness, AI financing, oil's ongoing supply shock, and where capital likely rotates next. Enjoy!
TIMESTAMPS:
00:00 Intro
03:17 Treasury Buybacks Change The Game
12:53 Is This Fiscal Operation Twist?
19:17 Where Does The Debasement Trade Go?
24:18 How Long Can They Goose Markets?
29:08 Can The Fed Stay Hawkish?
33:39 When Should You Buy Inflation Protection?
37:58 Is Debt Monetization Next?
41:25 Where Should Investors Hide?
46:12 What Comes After The AI Boom?
51:58 Final Thoughts
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Quinn – https://x.com/qthomp
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
RESOURCES
› Weekly Roundup Charts – https://drive.google.com/file/d/1dCi1wentet0JRlYXC_OX0s2QIm1qXvIW/view?usp=sharing
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
The Growth Strategy Trapping The Fed | Darius Dale
mercredi 12 août 2026 • Durée 46:09
Running the economy hot may keep growth alive, but it creates a dangerous balancing act for markets.
Darius Dale, founder of 42 Macro, joins us to explain why today’s reflationary regime demands a different investing playbook.
We also discuss rising neutral rates, bond-market pressure, Fed credibility, capital scarcity, and systematic portfolio risk management. Enjoy!
TIMESTAMPS:
00:00 Intro
01:00 The Risk-On Reflation Regime
06:29 Why This Bull Market Feels Harder
14:54 The Fed Risks The Bond Market
20:57 Inside The Fed’s Policy Tightrope
29:49 Can Policymakers Stick The Landing?
37:10 Why Risk Management Beats Buy-And-Hold
43:29 Making Institutional Tools Accessible
FOLLOW DARIUS
› X/Twitter – https://x.com/DariusDale42
› 42 Macro – https://42macro.com/
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
EVENTS
› Join. usat Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
Washington Is Suppressing Volatility To Keep The AI Boom Alive | Weekly Roundup
vendredi 7 août 2026 • Durée 59:54
Washington is shifting from monetary management toward state-directed capitalism and the consequences could reshape where capital flows next.
This week, Tyler joins us for his final roundup before heading to Shoten Capital, unpacking the shift toward state-directed growth and volatility suppression.
We explore Fed-Treasury coordination, the AI capex boom, energy abundance, and whether Bitcoin is approaching a turning point. Enjoy!
TIMESTAMPS:
00:00 Intro
00:58 Tyler's Farewell
04:34 Markets Enter A New Regime
06:22 Treasury Takes Control Of Volatility
15:11 Nuclear Power Supercycle?
20:18 Backstopping The Global Short Vol Trade
24:50 Are Policy Band-Aids Creating Bigger Risks?
28:48 Gold Sniffs Out The Policy Pivot
33:35 The AI Capex Boom Becomes Statecraft
40:42 Can Markets Survive The Midterms?
44:19 Regulation Builds The AI Moat
46:01 Bitcoin Enters A Cleansing Phase
50:31 How Narratives Drive Capital Flows
55:34 Final Thoughts
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Quinn – https://x.com/qthomp
› Tyler – https://x.com/Tyler_Neville
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
RESOURCES
› Weekly Roundup Charts – https://drive.google.com/file/d/16t3aXIjnR07MLnyb7RGarzT0oaI7dOFH/view?usp=sharing
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
The Portfolio Built To Survive Every Crash | Jared Dillian
mercredi 5 août 2026 • Durée 32:02
Markets are relearning that durable wealth comes from disciplined risk management, not chasing momentum or relying on central bank intervention.
This week, we're joined by Jared Dillian, editor of The Daily Dirtnap and author of The Awesome Portfolio, to discuss why markets may be entering a new regime where risk management matters more than maximizing returns.
We explore Warsh's Fed strategy, the case for a steeper yield curve, why the AI trade may be masking economic weakness, how sentiment shifts after crowded trades unwind, and why gold and diversified portfolios could be poised for a comeback. Enjoy!
TIMESTAMPS:
00:00 Intro
01:01 The Awesome Portfolio
04:42 Why Investors Misunderstand Risk
11:15 Warsh’s Intentional Policy Shift
14:17 The Yield Curve Meets Weak Data
17:32 Markets To Do The Heavy Lifting
20:00 Treasury Enters The Currency Fight
22:58 The Bear Market’s Starting Gun
27:57 Defensive Stocks, Oil And Gold
FOLLOW JARED
› X/Twitter – https://x.com/dailydirtnap
› Pre-Order The Awesome Portfolio –https://a.co/d/01yslEpJ
FOLLOW THE SHOW
› Forward Guidance – https://x.com/ForwardGuidance
› Felix – https://x.com/fejau_inc
› Telegram – https://t.me/+CAoZQpC-i6BjYTEx
› Blockworks – https://x.com/Blockworks
EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
https://blockworks.com/events
DISCLAIMER
Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.