Saxo Market Call

Today's slide deck: https://bit.ly/2yEZh2p 
Today we discuss further EU existential risks in the wake of a disappointing EU Council meeting yesterday, which looked an exercise in can-kicking and a failure to agree on fundamental principles, though it wasn't spun that way. Elsewhere, interesting news from Intel and Google that continue to have us leaning against the big tech sector in the US. Lots more on the call, including the latest on crude oil. Today with Ole Hansen on commodities, Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: https://bit.ly/2RZLolX  
Today we discuss everything from our still bearish case for equities as well as remarking on signs of speculative frenzy in pockets of this market, the oil market and USO ETF debacle, today's crucial EU council meeting and much more. Today with Ole Hansen on commodities, Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: https://bit.ly/3aqf563 
Today we discuss the deepening slide in crude oil prices after another historic slide in prices and concerns generated by oil-linked ETFs. We also discuss concerns for banks linked to the oil rout, a Netflix earnings damp squib, measures of existential strain ahead of tomorrow's crucial EU Council meeting and more. Today with Ole Hansen on commodities, Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/2VpDTac
Today we look at the historic collapse in oil prices to deeply negative territory yesterday and the risk of a repeat for the June contract if the realities on the ground don't change. Elsewhere, we ponder a still very speculative equity market that may be rolling over here and talk EU risks heading into the critical Thursday EU meeting. Today with Ole Hansen on commodities, Peter Garnry on equities, and John J. Hardy on FX.

Today's slide deck: https://bit.ly/2wR5kQH  
Today we discuss the lay of the political landscape across Europe ahead of what will prove a critical EU council meeting up this Thursday as we await the EU's ongoing response to the crisis. Extra coverage of the factors moving the Australian market today as the big banks Down Under come into focus. Today with Eleanor Creagh on equities and Australia, Christopher Dembik on EU and macro and John J. Hardy on FX.

Today's slide deck: bit.ly/2Vu2F7K
Today we discuss the ongoing melt-up in the big tech and other names in the US and continue to lean against the market's pricing of the equity outlook on a fundamental basis. Specifically to the story on the Gilead Sciences drug as a treatment for Covid19 patients, we are extremely cautious on the market's enthusiasm surrounding this story. Lots more on oil, gold and FX in the call. Today with Ole Hansen on commodities, Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/2VvVDQa
Today we continue our discussion of the remarkable lack of breadth in the equity market, the difficult path of opening up and whether the markets' assumption of the pace of a return to normal conditions is too complacent or merely reflects confidence in ongoing massive central bank support. More on oil and EU existential risks as well. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy on FX.

Today's slide deck: https://bit.ly/2RCtYfh  
Today we discuss the remarkable short squeeze (or comeback, depending on your point of view) in the major US equity indices on the "Don't fight the Fed!" narrative that has accompanied the action since last Thursday, and to what degree that narrative is justified. Also a discussion of oil, existential EU risks and Italy, and much more. Today with Saxo CIO Steen Jakobsen, Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy on FX.