Saxo Market Call

FOMC pump deflating fast. SNB beats ECB to the punch

June 16, 2022

Slide deck: https://bit.ly/3QtJarY   -

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Today we look at what unfolded at last night's FOMC meeting, in which the Fed hiked the most since 1994 with the 75-basis-point increase to the policy rate, and how quickly the relief rally has faded this morning. An SNB rate hike of 50 basis points unfolded as we were recording the podcast - beating ECB to the punch. Is this a harbinger for the Bank of Japan capitulation on its policy, at least incrementally, tonight? We also look at the latest natural gas spike in Europe, crude oil selling off, factors holding back gold, the outlook for earnings and the US economy and more. Today's pod also features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

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