Saxo Market Call

Focusing on USA for next round of coronavirus fallout

Today's slide deck: bit.ly/39o7DJ2
Today we discuss the market gyrations in the wake of the Fed emergency cut, but also possibly due to Bernie Sanders' star fading in the US Democratic Primaries. Our prime concern at the moment is the incoming impact the coronavirus outbreak is likely to have on US activity numbers and credit markets. Today with Ole Hansen on commodities, Peter Garnry on equities and John J. Hardy on FX.

Fed panics, what next?

Today's slide deck: bit.ly/2Tj3i4m
Today's podcast features guest Saxo CIO Steen Jakobsen as we discuss yesterday's panic Fed rate cut of fifty basis points and the market's pump-and-dump reaction. As well, we look at what we are looking for next across markets and especially in credit for further signs of turmoil. A brief discussion on the Super Tuesday results for the Democrats as well. Also on the podcast, Peter Garnry on equities and John J. Hardy on Forex.

Can G7 arrest the carnage in financial markets?

Today's slide deck: bit.ly/2PHZN5r
Today we talk about the big 4.6% bounce back in S&P 500 yesterday as traders are anticipating a coordinated action from G7 central banks and governments to arrest the pain from the coronavirus outbreak. A joint statement is expected at 1200 GMT so watch out for this key event. We also talk volatility in equities and the lack of optimism in South Korean equities. Lastly, we focus on EURUSD, oil and copper response to the latest bounce back. Peter Garnry on equities and Ole Hansen on commodities.

A pause in the carnage, but uncertainty lingers...

Today's slide deck: https://bit.ly/2VAY2up 
Today we talk Friday's bounce in risk sentiment after one of the worst weeks for the market in history. We also look at whether central banks moving to cut rates are really the right medicine for what ails the economy in a pandemic outbreak. As well, important perspective on why gold sold off on Friday but not treasuries. Peter Garnry is back with us on equities today, Ole Hansen on commodities, and John J. Hardy on FX.

Capitulation. JPY finally doing its thing

Today's slide deck: bit.ly/2I8ZagJ
Today we discuss yesterday's market capitulation,which represented an acceleration in an already vulnerable market and wonder when and how the policymakers respond here. Elsewhere, the crude oil downside took on new momentum on fears of plummeting demand, while the gold rally is faltering as a safe haven at the moment. Today with Ole Hansen on commodities and John J. Hardy on macro and FX.

Market meltdown challenging asset allocation principles

Today's slide deck: https://bit.ly/3839l0X  
Today we look at the latest market meltdown overnight and the escalation of coronavirus new driving it - as well as how safe haven trades aren't performing as they normally do - making this market particularly dangerous for an acceleration of volatility as trillions in AUM are managed under what may prove faulty principles. Today with host John J. Hardy.

February commodity deep dive: Coronavirus takes center stage

Slide deck: bit.ly/2vhxC6c
Commodities have witnessed a volatile beginning to 2020 with geopolitical tensions and trade deal optimism being completely overshadowed by the biggest demand shock since the global financial crisis. In this 45 min February edition we take a closer look at the Covid-19 impact as well as the outlook for key commodities from crude oil and copper to gold and agriculture.

Market only beginning to grasp coronavirus impact

Today's slide deck: bit.ly/2Vp91XU
Today, with Saxo CIO Steen Jakobsen, we run through how the market is beginning - and possibly only beginning - to grasp the ongoing impact from the coronavirus outbreak, both from an economic and market perspective. A great conversation today with Steen. Also on today's call, John J. Hardy on currencies.