Moving Markets: Daily News

Both European and US stock markets ended yesterday’s trading session in negative territory, but the Dow Jones made some positive headlines as it touched the significant milestone of 40,000 points for the first time in history. Macroeconomic data releases from the US continued to point to a stable or gradually cooling US economy, while China reported a mixed economic picture, weighing on Asia-Pacific markets. Tim Gagie, Head of FX & PM Solutions in Geneva, joins the show today to talk about the US dollar and metals.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Lucija Caculovic (Investment Writing)06:14 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)10:49 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Global equities are rallying on yesterday's lighter-than-expected US Consumer Price Index data, with investors snapping up stocks and riskier currencies. The data has led traders to raise their bets that the Fed will cut its policy rate at least twice this year. And after a recent rally in copper prices, Carsten Menke, Head of Next Generation Research, discusses whether the copper market has moved too far, too fast.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)06:51 Copper update by Carsten Menke (Head of Next Generation Research)11:38 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

A rally in big tech drove US equities close to their all-time highs as bond yields fell, with investors awaiting key inflation data for clues on the Federal Reserve’s next steps. And meme stocks are back on investors’ radar. GameStop surged 180% this week alone, raising questions about the prevailing market sentiment. Markus Allenspach, Head of Fixed Income Research, talks about how to navigate through volatile bond markets around CPI data. And Mathieu Racheter, Head of Equity Strategy, gives us the latest news on the key takeaways from this earnings season.00:00 Introduction by Bernadette Anderko (Investment Writing)00:30 Markets wrap-up by Jan Bopp (Investment Writing)06:37 Bond markets update by Markus Allenspach (Head of Fixed Income Research)11:31 Earnings Season Review by Mathieu Racheter (Head of Equity Strategy)14:13 Closing remarks by Bernadette Anderko (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Financial markets are in wait-and-see mode ahead of US inflation data today and tomorrow, as well as Alibaba and Tencent earnings later today. French President Emanuel Macron said he is open to a major French bank being taken over by a European rival, in a bid to spur deeper financial integration in the euro bloc. Yields on 20-year Japanese government bonds rose to their highest level since 2013. Manuel Villegas, Next Generation Research, says that like any risk-on asset, Bitcoin is awaiting US inflation reports.00:00 Introduction by Helen Freer (Investment Writing)00:23 Markets wrap-up by Mike Rauber (Investment Writing)07:38 Digital assets update by Manuel Villegas (Next Generation Research)11:03 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Equity markets closed last week stronger than they started it and futures broadly project the upward trend to continue today. Nevertheless, China’s latest inflation data over the weekend was disappointingly strong and the news today that China will begin an ultra-long bond selling programme was not enough to support onshore equities today. Hong Kong’s equity benchmark however climbed to its highest level since August 2023. With oil prices moving sideways and precious metals moving higher, our Head of Technical Analysis, Mensur Pocinci, explains what this traditionally means for equity markets, whilst also covering his outlook for other asset classes.00:00 Introduction by Helen Freer (Investment Writing)00:23 Markets wrap-up by Bernadette Anderko (Investment Writing)07:01 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)10:58 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

A higher-than-expected reading on US jobless claims rekindled expectations of earlier interest rate cuts this year, helping US equities to close at their highest levels ever. After the Swedish Riksbank cut interest rates on Wednesday, the Bank of England gave clear indications at its policy meeting yesterday that rate cuts are on the horizon. Meanwhile, demand for corporate bonds remains very strong, although risk premiums on debt remain very tight. And Hong Kong stocks are rising on a report that the dividend tax for mainland investors will be abolished. Fixed Income strategist Dario Messi says that there is no need to rush into longer-dated bonds at any price.00:00 Introduction by Bernadette Anderko (Investment Writing)00:23 Markets wrap-up by Mike Rauber (Investment Writing)07:11 Fixed Income update by Dario Messi (Fixed Income Strategy)12:17 Closing remarks by Bernadette Anderko (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

While European markets ended the day firmly in the green yesterday, US equities struggled as investors remained fixated on when the Federal Reserve will start cutting interest rates. Asian markets followed the US lower, with Japanese equities underperforming and the recent rally in Hong Kong and mainland China came to a halt. Oil fell close to its lowest level since mid-March, while gold held steady this morning. Mathieu Racheter, Head of Equity Strategy, and Tim Gagie, Head of FX & PM Solutions in Geneva, join today’s show to provide further insights into our equity calls and what has been driving the FX markets.00:00 Introduction by Bernadette Anderko (Investment Writing)00:36 Markets wrap-up by Lucija Caculovic (Investment Writing)06:35 Changes to our equity calls by Mathieu Racheter (Head of Equity Strategy)10:42 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)15:42 Closing remarks by Bernadette Anderko (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Global equity markets are rallying further as investors continue to revise their Fed policy bets after last week’s softer US jobs data. Asian stocks are hitting 15-month highs on renewed confidence in US interest rate cuts, while encouraging PMI data shows further evidence that the eurozone economy is healing. And as Bitcoin shows renewed strength, Manuel Villegas, Next Generation Research, provides us with an update on digital assets.00:00 Introduction by Helen Freer (Investment Writing)00:23 Markets wrap-up by Jonti Warris (Investment Writing)06:25 Digital assets update by Manuel Villegas (Next Generation Research)09:37 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Fed Chair Powell’s ‘No hike’ message and weaker-than-expected labour market data was the perfect combination for a strong end to the week for financial markets. Off the back of this, equity markets continued their uptrend after a difficult start to the month. And Chinese equities joined other regions in entering bull market territory. Mensur Pocinci, Head of Technical Analysis, talks about the improved sentiment for equity markets after April’s weakness, why he expects US Treasury yields to continue to fall, and why he thinks both have set the stage for new all-time highs.00:00 Introduction by Helen Freer (Investment Writing)00:23 Markets wrap-up by Jan Bopp (Investment Writing)06:00 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)10:47 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Swiss inflation data yesterday showed that the Swiss National Bank is in a comfortable position compared to its peers, but Swiss equity markets are clearly underperforming year-to-date. Strong earnings reports lifted US equities while markets also breathed a sigh of relief that the Fed meeting was less hawkish than feared. Oil and gold are both higher this morning as investors turn their attention to macroeconomic data releases later this afternoon. Tim Gagie, Head of FX & PM Solutions in Geneva, joins the show today to talk more about the latest currency moves.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Lucija Caculovic (Investment Writing)06:26 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)10:51 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.

After the US Fed announced a hold in interest rates as expected, Fed chair Powell said that fighting inflation was taking longer than expected but he poured cold water on speculation that the central bank’s next move would be to raise rates. Carsten Menke, Head of Next Generation Research, discusses the recent spike in the price of gold and assesses the impact of Chinese demand and central bank buying.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Jonti Warris (Investment Writing)06:17 Gold update by Carsten Menke (Head of Next Generation Research)10:23 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

German inflation accelerated for the first time since December, while China PMI data releases point to a slowly healing economy and Tesla's 15% gain helps the S&P 500 close slightly higher. Japanese stocks are gaining, with the focus on yesterday's currency intervention. Samsung's profits rise on AI demand for its chips, while German carmakers report a drop in profits. Manuel Villegas, Next Generation Research, says that macro-economic factors are in the driving seat when it comes to Bitcoin. Mathieu Racheter, Head of Equity Strategy, highlights that the US earnings season is surprising on the upside.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Mike Rauber (Investment Writing)07:40 Digital assets update by Manuel Villegas (Next Generation Research)11:26 Q1 Earnings Season update by Mathieu Racheter (Head of Equity Strategy Research)13:42 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player. 

Equity markets ended a volatile week on a strong note, with US markets recording their best week since November. Earnings generally boosted markets, although US inflation and activity data were worrying, and yields remained elevated. In the commodities space, M&A talks are adding some noise as miners look to increase their share of copper production. Markus Wachter from our Technical Analysis team talks about the technical setup of the markets and what to expect from equities, currencies and gold in the coming months.00:00 Introduction by Helen Freer (Investment Writing)00:23 Markets wrap-up by Jan Bopp (Investment Writing)06:38 Technical Analysis update by Markus Wachter (Technical Analysis Research)10:29 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

While central bankers in Europe are sending signals that monetary easing may be around the corner, the Bank of Japan left its key interest rate unchanged overnight. Meanwhile in the US, stocks tumbled after data showed a sharp slowdown in economic growth and pointed to persistent inflation. The earnings season continues to make headlines, particularly the big tech companies, whilst Anglo American has rejected BHP's takeover bid. Tim Gagie, Head of FX & PM Solutions in Geneva, joins the show today to talk about the Japanese yen and the US dollar.00:00 Introduction by Helen Freer (Investment Writing)00:23 Markets wrap-up by Bernadette Anderko (Investment Writing)05:15 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)09:25 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Markets have had a challenging 24 hours, with equities flat in the US but lower in Europe as bonds sold off and disappointing revenue guidance from Meta weighed particularly on the tech sector overnight. Our Head of Economics & Next Generation Research, Norbert Rücker, talks about the energy market amid geopolitical risks, and Nicolas Jordan from the CIO office talks about the impact of endogenous and exogenous risks on markets and how they have adjusted their asset allocation amidst the recent volatility.00:00 Introduction by Helen Freer (Investment Writing)00:30 Markets wrap-up by Jan Bopp (Investment Writing)05:41 Energy market update by Norbert Rücker (Head of Economics & Next Generation Research)09:58 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)14:36 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

While the earnings season remains in focus, yesterday’s release of PMI data from around the globe helped to assess the economic environment. Equity markets across the board posted positive gains as investors bought into the dip in tech stocks and a strong batch of corporate earnings eased concerns about higher interest rates. In the Asia-Pacific region, Australia reported a slowdown in inflation, while the Bank of Japan is again said to be looking at currency intervention. Mathieu Racheter, Head of Equity Strategy, joins the show today to provide an update on the ongoing earnings season.00:00 Introduction by Bernadette Anderko (Investment Writing)00:25 Markets wrap-up by Lucija Caculovic (Investment Writing)07:08 Q1 Earnings Season update by Mathieu Racheter (Head of Equity Strategy)10:51 Closing remarks by Bernadette Anderko (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player. 

Following last week’s worst selloff in a year, US equities turned a corner yesterday as the risks of a Middle East escalation appeared to ease. Investor sentiment was decidedly more risk-on as this week’s corporate earnings and economic data shifted into focus. Dario Messi, Fixed Income Strategy, discusses the impact of geopolitics on bond markets and talks about emerging market debt in the current climate.00:00 Introduction by Bernadette Anderko (Investment Writing)00:25 Markets wrap-up by Jonti Warris (Investment Writing)05:18 The dominance of inflation signals by Dario Messi (Fixed Income Strategy)08:49 Closing remarks by Bernadette Anderko (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player. 

Markets are in a rallying mood this morning, with most major Asia-Pacific equity markets up on the lack of signs of further escalation in the Middle East. This follows a dismal end to the week in US trading, with the AI darlings in particular weighing on markets. And Richard Tang, our Head of Research in Hong Kong, takes us on a tour of Asia in 80 seconds and explains why Japan remains his top pick.00:00 Introduction by Bernadette Anderko (Investment Writing)01:14 Markets wrap-up by Roman Canziani (Head of Investment Writing)07:10 Asian Markets Update by Richard Tang (Head of Research Hong Kong)13:18 Closing remarks by Bernadette Anderko (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player. 

European and US equity index futures declined overnight as global markets were rocked by fresh conflict in the Middle East that sent stocks lower while oil and safe-haven assets are trading higher. The Fed is hammering home its patient rhetoric. And Mensur Pocinci, Head of Technical Analysis, joins the show today to tell us more about the adage 'sell in May and go away' and what to expect from equity market seasonality in the coming months.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Jan Bopp (Investment Writing)06:37 Special: Sell in May and go away? by Mensur Pocinci (Head of Technical Analysis Research)12:58 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player. 

US equities were lower again in yesterday’s afternoon session, with a drop in orders at European semiconductor company ASML Holdings weighing on technology stocks. US and Asian authorities are pushing back against USD strength and oil is lower on ample US supply. Stocks are in the green this Thursday morning, supported by some upbeat earnings results and comments from Christine Lagarde that Europe's economy is nearing the end of its malaise. Carsten Menke, Head of Next Generation Research, talks about the impact of new sanctions imposed by the UK and US on Russian industrial metals. Tim Gagie, Head of FX&PM Solutions Geneva, comments on the Swiss franc's recent recovery and much more.00:00 Introduction by Helen Freer (Investment Writing)00:33 Markets wrap-up by Mike Rauber (Investment Writing)07:31 Impact of sanctions on Russian metals by Carsten Menke (Head of Next Generation Research)10:50 FX and metals by Tim Gagie (Head of FX & PM Solutions Geneva)14:56 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.