Saxo Market Call

China heads into long holiday with a flourish

Today's slide deck: https://bit.ly/3q8nCn4   -  

Today, a look at surging Chinese equities ahead of their week long holiday to mark the Chinese New Year, a look at the "everything up and USD" down trade that has re-engaged fully this week, especially in copper and platinum, the next earnings reports of interest and interesting event risks later in the US with a CPI release on tap, together with a 10-year treasury auction and Fed Chair Powell out speaking. Today's call with Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

Are we reaching peak Musk?

Today's slide deck:   https://bit.ly/3jvbA4y   - 

Today, a look at new record high for equities and an open question on whether we are reaching peak Elon Musk after the Tesla CEO touted his company's investment in Bitcoin, triggering a 20% rally in the cryptocurrency. Also, a breakdown of the developments in US treasuries ahead of key auctions this week, thoughts on credit as junk bond spreads reach new extremes, the latest boost to commodities prices and commodity-linked equities and much more. Today's call with Peter Garnry on equities, Althea Spinozzi on fixed income, and John J. Hardy hosting and on FX.

Are investors ready for more inflation?

Today's slide deck: https://bit.ly/3tE13bS   -

The week is starting where we left last week with equities zooming higher into new all-time highs and US 10-year yield rising as well with the market preparing for inflation. Over the weekend Summers and Blanchard critized the $1.9bn US stimulus plan as having the potential to create the worst inflation in a generation. In the short-term equities benefit over bonds and that is what we see expressed but as interest rates levels rise we do expect a sizeable impact on speculative segments of the equity markets. We are also looking at commodities as this sector is at the receiving end of global stimulus. We discuss bottlenecks in global manufacturing, higher oil prices and the reaction in gold. Today's call with Ole Hansen on commodities and Peter Garnry hosting and on equities.

Current trends are contradictory

Today's slide deck:  https://bit.ly/3pT4jxM   -

Today a look at the new record highs for the major US indices, where the epicenter of the next market correction is likely to be, how the current trends of rising USD, rising US yields, and rising risk sentiment are eventually incompatible, what spiked gold yesterday, a look at oil, e-commerce theme stocks, whether sterling may be able to sustain a solid move higher after the BoE and more. Today's call with Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

US long yields pop to new top

Today's slide deck:   https://bit.ly/2MAxFTl   -

Today a look at the new high for the cycle in the longest US yields, Green Transformation theme stocks, thoughts on inflation and the carbon credit scheme in the EU as prices reach a record high there, a look at the prospects for Italy now that Draghi likely set to become next PM, the important of today's BoE meeting as they will have to send a signal one way or another on their attitude toward negative rates, a look at JPY drivers and more. Today's call with Peter Garnry on equities, Althea Spinozzi on fixed income,  and John J. Hardy hosting and on FX.

Market shakes off shenanigans, but USD could weigh

Today's slide deck:   https://bit.ly/3cxE7Fj   -

Today we assess the US equity markets remarkable snapback that has now entirely erased the deleveraging move that unfolded last week on the short-squeeze phenomenon and also discuss whether this is necessarily a sign of market health. Also a look at key earnings report in equities, commodity stock under-performance, whether the stronger US dollar and/or rising US yields represent a headwind for risk sentiment, the reversal of silver prices and more. Today's call with Peter Garnry on equities, Ole Hansen on commodities,  and John J. Hardy hosting and on FX.

US stocks roar back higher, but what gives with the US dollar?

Today's slide deck: https://bit.ly/39EPYiP   -

Today we look at the tremendous snap-back rally in the US yesterday as the short squeeze phenomenon shows signs of fading, although we note that speculative froth remain in evidence. We also break down the so-far unsuccessful attempt to ramp silver prices above the 30-dollar level. In FX, we note the odd strength in the US dollar, given the backdrop and look at risks to long dated safe haven bonds if yields continue to rise. Today's call with Peter Garnry on equities, Ole Hansen on commodities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX.

Silver surges as Reddit trader forums shift their focus

Today's slide deck: https://bit.ly/3ajsSgZ   - 

As traders in the US have been held back from speculating in names at the center of last week's massive short squeeze, they have shifted their attention to the silver market. Today we offer perspective and a look at how the market operates as well as where the focus should be if any real shortage in the physical market were to develop. Also, we have a look at upcoming earnings reports  in the busiest week of earnings season thus far, and take a look at sterling ahead of the BoE meeting this Thursday. Today's call with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.