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The Saxo strategy team delivers insights and opinions about financial markets three times a week. Monday’s episode will focus on the events that have unfolded in the past week and what you should pay attention to in the coming week. Tuesday’s episode will focus on equities both in terms of performance and other relevant developments. Thursday’s episode will focus more narrowly on a specific topic, which can be everything from earning seasons, to yield curves and oil prices. The podcast will feature a wide array of Saxo’s financial experts.
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Friday Mar 10, 2023
A warning shot has been fired
Friday Mar 10, 2023
Friday Mar 10, 2023
Link to slide deck: https://bit.ly/3Li0Ne9 -
Markets got big jolt yesterday when Silvergate Capital announced a liquidation of the bank that has suffered from the implosion in cryptocurrencies. The event cascaded into SVB Financial (Silicon Valley Bank) plunging 60% in the main session and another 20% in extended trading as the bank has been forced to sell bonds at great losses. These moves cascaded further into other banking stocks and led equity futures lower in Asian and European trading. JD.com also announced a weaker than expected Q1 revenue outlook saying the Chinese consumer is weaker than estimated and that the extended lockdown has impacted behaviour. In today's podcast we go through the implications of the SVB Financial fallout and what it means for markets moves and especially with the large trading volumes in zero-day-to-expiry (0DTE) options. We also cover the JPY following the BoJ meeting and the moves in CHF on banking risk-off. Finally, we cover Fed Funds pricing, gold and other commodities, and next week's earnings releases which will focus on Volkswagen, BMW, Adobe, and Lennar. A warning shot has been fired yesterday. Be vigilant on risks today and stay safe. Today's pod features Steen Jakobsen, Peter Garnry, and Ole S. Hansen.
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