January 22, 2021
Today's slide deck: https://bit.ly/3sLcQ7Z -
Today, we look at whether it is time to take a few chips off the table at minimum on a few signs that the most speculative assets have hit a rough patch, as we question the ability of "story" and "theme" companies with zero earnings to continue their vertical ascent. Action in the commodities space and positioning there are likewise a headwind for the reflationary narrative at this time. We also take a look at how to hedge for a possibly correction across markets.. Today's call with Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy hosting and on FX.
January 21, 2021
Today's slide deck: https://bit.ly/35YtqaL -
Today, a look at the best Inauguration Day performance for US stocks since Reagan's re-election in 1985, a run down of BIden policy priorities, a status check on the earnings season thus far, a discussion of our equity theme baskets for green energy and next generation medicine, the odd dissonance of still low long rates despite the narrative and much more. Today's call with Peter Garnry on equities and John J. Hardy hosting and on FX.
January 20, 2021
Today's slide deck: https://bit.ly/3sFobq0 -
Today, a look at the end of the short Trump era and the transition to a Biden presidency today, including the priority list from incoming Treasury Secretary Janet Yellen after her nomination hearing yesterday. We also dive into the latest on volatile Italina politics and how the ECB continues to crush EU sovereign yield spread. A full run down of important commodity markets also on the call. Today's call with Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.
January 19, 2021
Today's slide deck: https://bit.ly/39ZJdY7 -
Today, we dive into the important subject of inflation and how central bank and fiscal policy moves during the Covid pandemic, together with supply disruptions and demand recovery, are driving near term inflationary risks. Also, thoughts on one aspect of the incoming Biden administration that may not bet receiving enough focus: oversight. Today's call with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
January 18, 2021
Today's slide deck: https://bit.ly/3nOtEao -
Today, we look at the weak close on Friday as Q4 earnings season kicked off in earnest and how the market is treating the JP Morgan results in particular and a preview of Netflix. Also a look at the overall status of the US dollar and how the market will treat the arrival of the Biden administration, with the flurry of executive actions planned, not to mention stimulus potential. In commodities, the latest on crude oil and gold. Today's call with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
January 15, 2021
Today's slide deck: https://bit.ly/2XKc8JI -
Today, we look at markets rolling over across all asset classes despite Biden's $1.9trn stimulus plan and a dovish Fed chair Powell saying interest rates will not be hiked anytime soon unless something dramatic happens to inflation. Markets are questioning whether large parts of the stimulus plan can get through US Congress and as result equities and yields are lower today. We also discuss the Trump administration's blacklist of Xiaomi and earnings today from major US banks such as JPMorgan Chase and Citigroup. We also discuss fading momentum in commodities and especially in crude oil as the reflation trades are pausing for now. Today on the call are Peter Garnry on equities and Ole Hansen hosting and on commodities.