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For the aspirational trader and financial markets professional. Coming at you most trading days, the Saxo Market Call is the high frequency podcast for real-time analysis of the financial markets across asset classes, from forex and rates to equities and commodities.
Episodes
Monday Feb 20, 2023
Monday Feb 20, 2023
Link to slide deck: https://bit.ly/3Ensvlf -
Today we look at the solid bounce in risk sentiment on Friday ahead of a three-day weekend in the US (where markets are closed for Presidents Day today) as US treasury yields rolled over and took the USD lower as well, a bearish reversal for the greenback just as it was trying to break free to the upside. In commodities, we focus on copper and crude and the lack of follow-through in the China re-opening narrative. In FX, we touch on the USD reversal, the JPY this week and NZD and SEK. In stocks to watch, a discussion of Deere and its strong results on Friday as well as the busy week ahead in earnings reports, where a wide variety of companies are reporting. But drowning out everything is the risk of an escalation in the US-China confrontation after the US warned China in stark language against providing lethal aid to Russia. This after VP Harris charged Russia with crimes against humanity in its assault on Ukraine. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic
Friday Feb 17, 2023
Friday Feb 17, 2023
Link to slide deck: https://bit.ly/414Ihem -
Today we look at risk sentiment spooked badly yesterday, first by strong US data, and then later by a Tesla recall announcement that suddenly cratered the most speculative corner of the options market ahead of the weekly expiry for Tesla options today. US 10-year yields are near the pivot highs from late December and ahead of heavy new issuance incoming next week. We also discuss our new luxury theme basket which we think will be a more "pure luxury" collection of companies than many of the broader luxury ETF's out there. The latest in FX, the earnings and macro calendars for the week ahead and more on today's pod, which features Peter Garnry on equities, with John J. Hardy hosting and on FX.
Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic
Thursday Feb 16, 2023
Thursday Feb 16, 2023
Link to slide deck: https://bit.ly/3lIYIgf -
Today we look at the equity market remaining buoyant if not yet following through higher, even as US treasury yields remain pinned near the highs of the cycle after strong US Retail Sales yesterday. Also, we have a possible interesting twist in the US seasonals and a warning from JPMorgan's options expert on the "Volmaggedon 2.0" risks from the 0DTE options trading. Stocks to watch, including Shopify and Nestle, and much more on today's pod, which features Peter Garnry on equities, with John J. Hardy hosting and on FX.
Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic
Wednesday Feb 15, 2023
Wednesday Feb 15, 2023
Link to slide deck: https://bit.ly/3lwPzr7 -
Today we look at the market's unsuccessful attempt to draw meaning from yesterday's CPI data, but US yields ending the day near the highs for the cycle, in terms of Fed expectation ahead of today's US January Retail Sales print. We also look at a significant change of temperature in the China recovery story overnight, discuss AirBnB results and outlook as a sign of a resilient US economy and much more. Today's pod features Peter Garnry on equities, with John J. Hardy hosting and on FX.
Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic
Tuesday Feb 14, 2023
Tuesday Feb 14, 2023
Link to slide deck: https://bit.ly/3k2LnyS -
Today we look at the odd session yesterday in the US, with no readily apparent proximate cause to the rally outside, perhaps of traders hedging today's US January CPI release, which could trigger considerable volatility, especially on the impact of heavy 0DTE options trading if the release is a big surprise in either direction. We also note tightening financial conditions in the corporate bond market, talk market reaction to incoming earnings data, including from ThyssenKrupp, SolarEdge and Palantir, and look at today's crop of earnings reports, as well as stories impacting FX & more. Today's pod features Peter Garnry on equities, with John J. Hardy hosting and on FX.
Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic
Monday Feb 13, 2023
Monday Feb 13, 2023
Link to slide deck: https://bit.ly/3E2AGDc -
Today we look at the market narrative around the coming "landing" and what might happen if the economy re-accelerates and the market has to price in a "no landing" scenario. The key is the long end of the yield curve, which has remained very anchored for a few months. Elsewhere, we discuss the important US January CPI release coming up tomorrow, discuss Interesting stocks to watch as some vulnerable companies seek liquidity and Lyft craters in contrast to Uber's recent report, and look at earnings reports up today. Today's pod features Peter Garnry on equities, with John J. Hardy hosting and on FX.
Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic
Friday Feb 10, 2023
Friday Feb 10, 2023
Link to slide deck: https://bit.ly/3RPuTGP -
Today we look at the US market turning lower again yesterday and closing down through an important level that was providing resistance on the way, setting up the technical situation of a risk of downside capitulation. Higher US yields weighed and the US dollar rallied yesterday, although the big news in FX was a watershed Swedish Riksbank meeting that blasted the Swedish krona higher. Breaking this morning was the unanticipated news of the nominee for BoJ Governor, which sparked JPY volatility. We also delve into the disastrous news from Adidas this morning, the earnings calendar this week, commodity developments, the latest on natural gas and the week ahead macro calendar. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic
Thursday Feb 09, 2023
Thursday Feb 09, 2023
Link to slide deck: https://bit.ly/40Fq1It -
Today we look at the choppy market action as yesterday's sell-off has been in turn partially reversed by a strong report from Disney after the close, with the company’s stock jumping on cost-cutting and job cut announcements. We also wonder whether Uber's guidance and performance suggest a phase shift in the company’s and other companies’ potential. In commodities, we look at crude oil, natural gas, gold and grains. FX traders are awaiting for clarity on the identity of the new BoJ governor, while SEK has jumped on a hawkish Riksbank surprise as we were recording the podcast. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
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Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.
Click here to open an account with Saxo -
Intro and outro music by AShamaluevMusic