Saxo Market Call

Today's slide deck: bit.ly/2BWJuNX
Today we offer perspective on the latest US payrolls number and the disconnect with jobless claims data, put some of the recent valuation levels in perspective and discuss how the lack of price discovery in sovereign debt due to central bank intervention is driving the narrative. A look at gold, oil, FX and much more on the call. Today with Peter Garnry on equities, Ole Hansen on equities and John J. Hardy on FX.

Today's slide deck: https://bit.ly/2VEkPEL  
Today we look at another extension in the megacap tech stocks to new record highs with no participation from the broader market, and particularly note the aggressive extension in the biggest and particularly speculative names. We also look at positive US data yesterday and preview today's important US jobs data. Elsewhere, sterling is trying to make a statement while gold faltered after new highs. Today with Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/3eQ8lSf
Today we look at the equity market's rally extension into quarter-end yesterday and signs of ongoing speculative interest in high-flying names like Tesla, which after yesterday's news has overtaken the market cap of energy giant ExxonMobil. A look at the Fx moves of note, gold and silver, agriculturals after yesterday's big move and more on the call. Today with Peter Garnry on equities, Ole Hansen on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/2YKjEFS
Today we look at another choppy session for US equities, which recovered from another test of pivotal support areas yesterday ahead of today's session, which marks the end of the month and a crazy quarter for equities. in general we ponder the lack of response to renewed Covid19 concerns and look at whether a strong USD is a risk for equity markets here. Today with Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: https://bit.ly/2NBPaiO 
Today we look at the factors contributing to Friday's weak close for equity markets, including the Covid19 acceleration in the US and elsewhere and Facebook's steep plunge on Friday as a growing list of companies pull advertising on the platform. We also look at pivotal levels for the major US stock indexes, the USD and positioning, gold and more. Today with Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/2BDJEcU
Today we discuss the US market avoiding a plunge after testing a pivotal technical zone and the ability of the market to remain resilient in the face of negative news, particularly on the Covid19 outbreak in the US. Also today a look at the narrative driving valuations to such extremes and a discussion on what has driven Natural Gas prices to a 25-year low. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy on FX.

Today's slide deck: bit.ly/3hUmOhX
Today we discuss yesterday's weak equity market that spilled over into today and where the next technical stress points lie for the major US indices, discuss whether we are still in a bear market, the sharp rally in the USD across the board, the new multi-year high in gold and much more. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy on FX.

Today's slide deck: https://bit.ly/2Z14085  
Today we look at the continuing divergence in equity markets between the big megacaps and the broader market and why investors are favoring speculative stocks with expected profitability so far into the future, take a look at the new high close for the cycle in gold, talk the RBNZ's dovish meeting overnight and much more. Today with Peter Garnry on equities and John J. Hardy on FX.