Hotter US inflation lowered expectations of interest rate cuts. Wall Street reacted with a down day, but the weakness did not spread to European or Asian equities. However, it was government bond yields and the USD that rose sharply. Today's focus is on the ECB's rate decision – a rate cut is not expected, so the focus will be on the comments from ECB President Christine Lagarde. And the JPY is at its lowest level since 1980, raising the spectre of monetary intervention. Tensions are rising in the Middle East, but so far the markets have remained calm. Carsten Menke, Head of Next Generation Research, notes that the latest news on supply and demand dynamics is very supportive for copper, and Nicolas Jordan from the CIO Office highlights the benefits of Swiss and value stocks in diversified equity portfolios.
00:00 Introduction by Helen Freer (Investment Writing)
00:31 Markets wrap-up by Mike Rauber (Investment Writing)
07:21 Copper update by Carsten Menke (Head of Next Generation Research)
10:35 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)
14:01 Closing remarks by Helen Freer (Investment Writing)
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