Saxo Market Call

Link to slide deck: https://bit.ly/3k0mbcf   -

Today we look at the mixed US jobs report on Friday and more importantly, the wild reaction to a very weak December ISM Services survey, while we question whether a single data point deserves such a strong reaction function. Regardless, the market took down US treasury yields  and the US dollar in the wake of the data. Elsewhere, the market is scrambling to absorb the remarkable policy shift out of China, with metals, AUD and especially CNH firming further. A look at stocks to watch, perspective on the big US banks as they are the first to report for the upcoming earnings season on Friday. 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.

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Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3GlgGw7    -  

Today, we look at the market reaction to strong US labor market data yesterday, which triggered higher yields as the market was forced to mark the Fed policy rate higher for longer this year. Equities dropped and the US dollar surged, but the main even awaits today in the form of the US official jobs and average hourly earnings data as well as the December ISM Services is also up later today. On that note, heavy interest in very short-dated options could mean huge volatility swings on big data surprises today. Elsewhere, all things China-related are also on the move, including the yuan as every day brings new signs of official support for the economy. A look at earnings next week, metals, & more  also on today's pod, which 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

Link to slide deck: https://bit.ly/3jN6Co1   -

Today, we look at the market continuing to stumble around in the range, with little conviction emerging so far this year. Will this mean a trigger-happy reaction to incoming data? Elsewhere, we look at the gold rally fading, crude oil ripping lower and the Japanese yen mean reverting to weakness after its spectacular two-month rally, a likely sign of near-term exhaustion for that move. We also discuss Amazon chopping more jobs than expected, the still tight US labor market and much more. Today's podcast 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

Link to slide deck: https://bit.ly/3X82XzD   -

Today, we note that today's inter-market picture makes far more sense than what we saw yesterday as some low inflation data in Europe is helping to drive global bond yields lower, lifting risk sentiment and seeing a weaker US dollar. This came after a volatile and confusing day yesterday. The biggest winner of the first couple of days this year has been gold, which has soared above major resistance. We also look at the latest Tesla plunge and some of the network effects that may be aggravating its decline, discuss the reversal in crude oil prices and new lows in natural gas prices and how markets may continue to flourish on signs of a weakening economy. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Click here to open an account with Saxo   -

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

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3Iitmq2   -

Today, we remind traders that the market action doesn't really start for much of global liquidity until today's opening of UK and US markets, with Japan not even set to start trading until tomorrow. This makes the JPY volatility in particularly difficult to interpret in thin markets. Most of the USD move that has unfolded this morning did so during and after the recording of this podcast, but we suggest that it is important to wait for the US data on Friday for a firmer sense of where the market stands on the US dollar and other markets, including gold. Today we also discuss the important year ahead for Tesla, with more products and platforms in the mix than at any time in its history, contrasting its outlook with that of Volkswagen. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Click here to open an account with Saxo   -

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

Intro and outro music by AShamaluevMusic

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

Today, we look at how markets closed last year, noting the weakening of the US dollar in to year-end even as US treasury yields backed up into year end. Despite those higher yields, USDJPY trades near multi-month lows in anticipation of the Bank of Japan and the Fed moving in opposite directions with their policy for the balance of this year. Elsewhere, we dive into commodity positioning and the energy market as mild weather continues to drive gas and power prices down in Europe while crude oil actually rallied. A look at energy stories to track this year and more also on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Click here to open an account with Saxo   -

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

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3Cbk2jQ   -

In this Special Edition of the podcast, the Saxo Market Call crew reveal our Listeners' predictions for the S&P 500, Fed Funds and the US 10-year yield in 2023. We also offer our thoughts on the same and run down a whole bevy of questions our listeners sent, including on our energy future, whether fossil fuel, alternative or nuclear, geopolitics of trade and currencies, investment themes and market returns, scenarios for inflation and more. We also highlight some recommended reading (lots more in the slide deck) and even reveal some of our personal interests in our downtime. A huge thank you to all of the listeners who responded and made 2022 a great year for the Saxo Market Call podcast! On this special edition of the podcast were Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Click here to open an account with Saxo   -

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

Intro and outro music by AShamaluevMusic

This Special Edition of the podcast features an interview with Saxo CIO Steen Jakobsen on the outlook for 2023 after a remarkably brutal year for investors in 2022 on the double whammy of bear markets in both bonds and equities. In particular, the conversation looks at the misguided optimism for next year that is ironically based on a base case of disinflation, recession and an eventual return of central bank easing, the impact of China coming back online, and where investors should focus their efforts for achieving returns in coming years. John J. Hardy hosts.

Click here to open an account with Saxo   -

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

Intro and outro music by AShamaluevMusic