Saxo Market Call

Equities: EV ecosystem, Adobe earnings, and AI washing

In today's podcast on equities we talk about the growing electric vehicles ecosystem of recycling and charging, Adobe's earnings Thursday next week which will be important for sentiment on AI-related stocks, and finally we talk about next week's IPO of Arm and whether this is potentially "AI washing", with Peter Garnry and Oskar Bernhardtsen.

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

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Fixed-income: Peak rates and the impacts

In today's fixed income focused podcast we take a closer look at recent developments, especially the emerging focus on peak rates and its potential impact on yields and short-term rates. Also what are corporate bonds telling us, and finally we explain how the COT report for fixed income futures works and what drives the current record speculative short positions w/ Peter Garnry and Ole S Hansen standing in for Althea Spinozzi 

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

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Macro and FX: Could soft landing hopes slow down USD rally?

First episode in our new podcast format with Charu Chanana talking about macroeconomic topics and currencies. We talk about Friday's Nonfarm Payrolls figures underpinning the soft landing narrative ahead of potential stagflation concerns later this year. We also talk about the USD rally and whether it could end with strength going into the direction of CNH and JPY. Finally, we discuss the central meeting this week from RBA (tomorrow) and Bank of Canada (Wednesday) which have very different tasks at their hands.  

 

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

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Will US jobs report extend current momentum?

Link to slide deck: https://bit.ly/3L6i4WN   -

Markets are calm ahead of today's US August Nonfarm Payrolls report which is expected to show continuous job gains in the US economy. In today's podcast we discuss the positive week in global equities led by technology stocks, potential turnaround in the US fiscal impulse, galloping prices on rice and orange juice, and a stronger Chinese yuan as recent policy moves have strengthened the currency. Peter Garnry on equities and Ole S. Hansen on commodities.

 

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

’Peak rates’ narrative continues to underpin momentum

Link to slide deck: https://bit.ly/3L3q2zG   -

Momentum in equities is extending as 'peak rates' narrative gets stronger amid weakening macro data suggesting that tighter monetary policies are beginning to have an impact on the economy. We expect the ECB to go into a hawkish pause mode on policy rates and this thinking has got the market to bid up EURUSD in recent trading days. Momentum in gold is also responding well in recent weeks to the 'peak narrative' and elsewhere in commodities cocoa futures are approaching their highest price since early 2011. We also touch on earnings from Salesforce and UBS. Peter Garnry on equities and Ole S. Hansen on commodities.

 

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Bad news is good news, or so the market thinks

Link to slide deck: https://bit.ly/3L3UV7k   -

Bad news was good news yesterday as significantly weaker than estimated US August consumer confidence and July JOLTS jobs opening pushed the US 10-year yield lower lifting equities, and especially the cyclical sectors such as semiconductors and carmakers. In currencies, the AUD is seeing the strongest bid and in commodity markets crude oil is still supported by tight markets. Peter Garnry on equities and Ole S. Hansen on commodities.

 

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Chinese equity narrative turns to hope of a turnaround

Link to slide deck: https://bit.ly/3QYEMnq   -

Risk-on sentiment continues this morning with a strong Chinese equity session seeing Hang Seng futures rallying 2%. We discuss the new positive sentiment on Chinese equities, but also the ongoing risks to the Chinese economy. We also talk about the recent headwinds for the USD and positioning in industrials metals. Finally, we cover the 3M lawsuit settlement over defective earplugs to the US military and the upcoming earnings today from HP and NIO. This and more on today's pod, which features Peter Garnry on equities and Ole S. Hansen on commodities.

 

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Volatility collapse post Jackson Hole as Powell delivers nothing

Link to slide deck: https://shorturl.at/hjv27   -

Jackson Hole delivers nothing that changes the outlook leading to muted reactions across various markets except for a collapse in implied equity volatility (VIX). Chinese regulators have lowered trading costs today causing a rally in Chinese equities with Hang Seng futures up 1% after being up as much as 3.2% as the market has its eyes on the Chinese shadow banking system. In currencies speculative short positions on the USD are being reduced and in commodities we still observe broad-based selling due to worries over China. We also discuss the rising refinery margins on gasoline and diesel impacting costs of transportation. This and more on today's pod, which features Peter Garnry on equities and Ole S. Hansen on commodities.

 

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic