Saxo Market Call

Old fashioned risk-off a real change of pace

April 21, 2021

Today's slide deck:   -

Today we look at a "classic" episode of highly correlated risk-off across markets, as equities suffered another ugly session in the US, followed by an even uglier session in Japan on concerns of new Covid lockdowns there, while the USD, JPY and safe haven bonds enjoyed broad strength. Netflix results and guidance added to the negative energy and we look at incoming earnings elsewhere, as well as key signs of a budding political revolution in Germany that could change the face of Europe after the September election. Finally, we discuss a key nomination hearing today for "anti-trust icon" Lina Khan, who would join the FTC if approved. On today's pod were Peter Garnry on equities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

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