Saxo Market Call
Equity slide continues. Italian BTPs for the win?

Equity slide continues. Italian BTPs for the win?

October 15, 2020

Today's slide deck: bit.ly/3j48B18 -
Today we look at the fresh slide in the US equity market and concerns that stimulus wont be forthcoming before the election, have a look at FX stories driving GBP volatility and AUD weakness, and focus on European sovereign debt, as Italian bonds have been the trade of the year for more liquid sovereign bonds and where the longest BTPs could be set for further outperformance if the EU is indeed having its "Hamilton moment". Today with Althea Spinozzi on fixed income and John J. Hardy hosting and on FX.

USD fights back. Sterling in focus on Brexit talks deadline.

USD fights back. Sterling in focus on Brexit talks deadline.

October 14, 2020

Today's slide deck: bit.ly/3lDu6rg -
Today we look at signs of nervousness beneath the surface in the US equity market, have a look at the resurgence in the US dollar and whether there is more strength to come, particularly against heavy EUR long positioning, talk gold, US and Italian yields, and especially the focus on sterling as Boris Johnson's Brexit negotiation deadline looms into view tomorrow.

US stock market acceleration: destabilizing like last time?

US stock market acceleration: destabilizing like last time?

October 13, 2020

Today's slide deck: bit.ly/2Im6FV3 -
Today we look at the US equity market getting more than a bit frothy again and ponder whether the pace of the gains could be destabilizing as it was for a time after the late August run-up. Also a look at important currency, commodity and equity developments as earnings season is set to get under way in the US in earnest today. On the call today were Ole Hansen on commodities and John J. Hardy hosting and on FX.

Market guns for stimulus, China taps brakes on CNY

Market guns for stimulus, China taps brakes on CNY

October 12, 2020

Today's slide deck: https://bit.ly/2SLCZCP   - 
Today we look at the very positive market sentiment as traders bet on incoming US stimulus even after the latest talks between the Trump administration and the Democrats failed to result in agreement. We also look at rising grain prices, preview the week ahead as US earnings season gets under way in earnest this week and much more. Today with Ole Hansen on commodities and John J. Hardy hosting and on FX.

Special Edition: Q4 2020 Outlook - The US election and everything gone all K-shaped

Special Edition: Q4 2020 Outlook - The US election and everything gone all K-shaped

October 9, 2020

In this special edition podcast, the Saxo Strats team takes you through the key points of our Q4 Outlook, including a particular focus on the US election and what is at stake for global markets over this election and as we peer into 2021. The focus is on portfolio allocation, the risk of a secular shift in inflation to the upside, and the implications of the K-shaped narrative on policy and markets. On the podcast are Saxo CIO Steen Jakobsen, Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

The market sees the glass as half full.

The market sees the glass as half full.

October 9, 2020

Today's slide deck: bit.ly/3nuPwIV  -
Today we look at the positive mood in the US equity market and the narrative driving that mood around stimulus prospects and whether the market's complacent stance is justified. We also look into the global grain market supply situation as wheat hits five year highs, contrast US and European small cap performance and much more. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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