Moving Markets

As European markets experience some profit-taking ahead of key central bank meetings, all major US stock indices closed at record highs. However, market breadth remains narrow, driven primarily by gains in just a few mega-cap technology stocks. Today, we welcome Dario Messi, Head of Fixed Income Research, who shares his outlook on upcoming interest rate decisions from the Federal Reserve and the European Central Bank – and what these developments could mean for fixed income investors.(00:00) - Introduction: Lucija Caculovic, Product & Investment Content (00:35) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content (07:54) - Fixed income & central banks: Dario Messi, Head of Fixed Income Research (13:09) - Closing remarks: Lucija Caculovic, Product & Investment Content 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.

Joining the discussion are Lucija Caculovic, who provides insightful market commentary, Mathieu Racheter, an expert in equity strategy, and Manuel Villegas, a crypto analyst. They dive into the surge of global equity markets driven by US-China trade optimism and record highs in tech stocks like Qualcomm and AMD. Lucija also discusses the sharp pullback in gold and oil prices, while Mathieu highlights strong earnings and sector performance. Manuel examines October's crypto sell-off, linking it to event-driven volatility and macroeconomic factors.

Global stocks rose on renewed optimism that the United States and China are nearing a trade agreement. The upbeat sentiment also lifted commodity prices, with copper and oil posting gains. In contrast, Treasuries declined and gold slipped. Looking ahead, investors face a pivotal week featuring interest rate decisions from four G7 central banks and earnings reports from five of the ‘Mag-7’ tech giants—Microsoft, Alphabet, Meta, Apple, and Amazon. Joining the show is Markus Wachter from our Technical Analysis team. He discusses the significance of Japan’s Nikkei breaking above the 50,000-point level and shares his outlook on the Swiss franc, anticipating the end of a prolonged consolidation phase.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:25) - Markets wrap-up: Jan Bopp, Product & Investment Content (06:32) - Technical Analysis update: Markus Wachter, Technical Analysis (09:54) - Closing remarks: Bernadette Anderko, Product & Investment Content 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.

Oil prices spiked over 5% after the US imposed fresh sanctions on Russia’s top crude producers. Meanwhile, equity markets rallied on strong corporate earnings, with European luxury and US tech stocks leading the charge. The Swiss National Bank released its first-ever policy minutes, offering insights into its current stance. In Asia, markets gained ahead of President Trump’s upcoming visit to the region, where trade and security talks with China’s President Xi are in focus. Richard Tang, Head of Research Hong Kong, joins us to share his views on China, Japan, and Singapore.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:31) - Markets wrap-up: Lucija Caculovic, Product & Investment Content (06:28) - Asia update: Richard Tang, Head of Research Hong Kong (11:41) - Closing remarks: Helen Freer, Product & Investment Content 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.

European and US stocks moved lower in yesterday’s trading sessions, with earnings releases and new mooted curbs on US software exports to China doing nothing to boost the trading mood. Asia’s equity markets also reacted negatively to the escalation in trade tensions. Oil prices jumped about 3% last night after the US administration imposed further sanctions on Russia’s two largest crude companies, Rosneft and Lukoil, aiming to harm the Kremlin’s ability to raise revenue to fund its war against Ukraine. Our Head of Equity Strategy Research, Mathieu Racheter, joins the podcast to provide an update on a – so far – strong US earnings season. He explains why next week is the one to watch out for though, as it should reveal whether or not AI momentum is still building.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:31) - Markets wrap-up: Bernadette Anderko, Product & Investment Content (06:11) - Earnings season update: Mathieu Racheter, Head of Equity Strategy (10:22) - Closing remarks: Helen Freer, Product & Investment Content 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.

European and US equity markets were mixed yesterday, with gains from strong earnings offset by declines in mining stocks. French shares reached record highs despite political uncertainty. The Dow Jones Industrial Average hit a new peak following robust earnings. US Treasury yields fell on weak data; gold and silver saw steep declines; the USD strengthened, and the Swiss franc approached record highs amid resilient exports. India and the US are reportedly negotiating a trade deal involving lower tariffs and reduced Russian oil imports. Carsten Menke, Head of Next Generation Research, provides his timely take on one of the sharpest declines in precious metals in years.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:21) - Markets wrap-up: Mike Rauber, Product & Investment Content (07:04) - Gold update: Carsten Menke, Head of Next Generation Research (10:38) - Closing remarks: Bernadette Anderko, Product & Investment Content 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.

Stocks bounce back on diminishing fears regarding US regional bank credit quality and positive earnings reports. Meanwhile, French assets lag on the back of waning investor confidence and company specific news in the banking sector, and the gold rally continues. Today, we are joined by Eirini Tsekeridou from Fixed Income Research, who shares her thoughts on French bonds after the downgrade, on Argentina ahead of the mid-term elections on Sunday, and the credit jitters among US regional banks.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:54) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content (06:28) - Bond market update: Eirini Tsekeridou, Fixed Income Research (12:21) - Closing remarks: Helen Freer, Product & Investment Content 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 swung wildly last week as easing US-China trade tensions clashed with fresh regional bank fears. While Wall Street rebounded on Friday, Europe lagged amid banking and defence sector woes. Bond yields fell, gold slipped, and this morning Asia rallied on Japanese political shifts. All eyes now turn to earnings and US inflation data later this week. Mensur Pocinci, Head of Technical Analysis, explains why he still likes gold and why he expects equity markets to kick-off a year-end rally.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:27) - Markets wrap-up: Jan Bopp, Product & Investment Content (05:51) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis (09:21) - Closing remarks: Bernadette Anderko, Product & Investment Content 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.

US stocks opened higher yesterday, but then reversed course. Small caps underperformed, and market volatility rose amid credit concerns at regional banks. In Europe, Swiss and French equity markets outperformed, supported by positive corporate news and France temporarily avoiding a political crisis. Gold extended its record-breaking rally. The yield on the 10-year US Treasury fell below a key threshold, reflecting weak economic data and dovish comments from Federal Reserve Governor Christopher Waller. Mathieu Racheter, Head of Equity Strategy, shares his insights on bank earnings and talks about US vs European banks. Tim Gagie, Head of FX & PM Solutions in Geneva, discusses key considerations amid the rally in precious metals and the recent pullback in the US dollar.(00:00) - Introduction: Lucija Caculovic, Product & Investment Content (00:34) - Markets wrap-up: Mike Rauber, Product & Investment Content (06:42) - Earnings season: Mathieu Racheter, Head of Equity Strategy Research (09:25) - Currencies and metals: Tim Gagie, Head of FX/PM PB Geneva (13:46) - Closing remarks: Lucija Caculovic, Product & Investment Content 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 rebounded midweek, driven by a sharp rally in European luxury stocks and strong earnings from major US banks. US-China trade tensions remain in focus, with Treasury Secretary Bessent reaffirming a firm stance. The AI theme continues to dominate headlines, supported by major deal announcements and robust earnings results. In commodities, both gold and oil are trading higher this Wednesday morning. Gold is benefiting from its safe-haven appeal, while oil prices are rising on reports that India may reduce its purchases of Russian crude. Today’s show features Nicolas Jordan from the CIO Office, who shares his insights on the US equity market, China, and gold.(00:00) - Introduction: Mike Rauber, Product & Investment Content (00:34) - Markets wrap-up: Lucija Caculovic, Product & Investment Content (07:43) - Update from the CIO Office: Nicolas Jordan, CIO Strategy & Investment Analysis (13:27) - Closing remarks: Mike Rauber, Product & Investment Content 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.