Saxo Market Call

The ‘Reddit army’ is back and wild comeback in commodities

May 28, 2021

Today's slide deck:  -

Intraday volatility continues to be on the decline in broader equities, but in the equity corner of meme stocks, the 'Reddit army' has reloaded and come back for more aggressively pushing up AMC shares. The total traded value of AMX shares hit $18.7bn eclipsing Tesla at $16.6bn traded value and normally by far the most traded US stocks. In other words, the dangerous behaviour in quirky pockets of equities is back. Commodities are also back ignoring the signals of the Chinese government signalling that China is not as much in control of commodities as many thought potentially paving the way for even more aggressive moves to the upside. In today's podcast we also cover yesterday's US bond auctions, the price action in European peripheral bonds, next week's earnings and macro releases, and finally a quick take of Salesforce earnings. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and Althea Spinozzi on fixed income.

Intro and outro music by AShamaluevMusic

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