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From macroeconomy and politics to stocks and bonds, commodities and forex, the Saxo Market Call is a weekly show for all investors who want to be updated on what moves financial markets in an inspiring and engaging way.
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Friday Jun 24, 2022
Friday Jun 24, 2022
Slide deck: https://bit.ly/3A33BGo -
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Today we look back at yesterday's historic session with big moves lower in the US and German 2-year yields responding to PMI figures for June indicating a more rapid decline in economic activity than estimated by economists. This is naturally lifting the recession probability and the timing of it causing safe-haven flows into bonds. The most interest rate sensitive parts of the equity market were the winners yesterday such as biotechnology and bubble stocks. Across currencies we observe weakness in the USD, AUD, and NOK reflecting lower economic activity, and the pressure is also coming of the JPY due to yesterday's rates move. On commodities we touch on the weakness in wheat and the tight physical market in oil. Other topics covered are the guidance cut from Zalando and container freight rates coming down. Today's pod features Peter Garnry on equities and Ole Hansen on commodities.
Intro and outro music by AShamaluevMusic