Moving Markets

Stocks rebounded after a rocky start to the week, sparked by concerns over a low-cost artificial intelligence model developed by Chinese startup DeepSeek. However, investors are beginning to see the development as a potential boon for the industry, while OpenAI says it has evidence that DeepSeek has used its model to train its own. The focus today shifts to the Federal Reserve's decision and the upcoming big tech earnings reports. Dario Messi, Head of Fixed Income Research, and Mathieu Racheter, Head of Equity Strategy, provide their insights on these key events.00:00 Introduction by Jonti Warris (Investment Writing)00:27 Markets wrap-up by Jan Bopp (Investment Writing)05:13 Bond market update: Dario Messi (Head of Fixed Income10:56 Earnings season update: Mathieu Racheter (Head of Equity Strategy)15:13 Closing remarks by Jonti Warris (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.

This week’s biggest story has the financial world reeling: Chinese startup DeepSeek’s revolutionary AI model is challenging conventional wisdom about the need for massive AI investment. Companies heavily reliant on AI, including Nvidia, were among the biggest losers. However, the fallout extends far beyond the tech sector, with implications for derivative plays on AI development, such as energy providers. Manuel Villegas joins us to dissect the implications of DeepSeek’s groundbreaking technology, and we also have special guest Markus Waeber on the show today to share his insights on the Swiss property market.00:00 Introduction by Bernadette Anderko (Investment Writing)00:31 Markets wrap-up by Lucija Caculovic (Investment Writing)07:07 Artificial Intelligence latest: Manuel Villegas (Next Generation Research)11:23 Swiss Real Estate update: Markus Waeber (Head of Indirect Real Estate Advisory & Intelligence)15:47 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.

After US stocks notched their best start to a presidential term since 1985 last week, DeepSeek, China's answer to ChatGPT, is making big waves in the tech sector. The AI startup is gaining significant traction and sending US stock futures sharply lower. Mensur Pocinci, Head of Technical Analysis, shares his outlook for markets from a technical perspective.00:00 Introduction by Bernadette Anderko (Investment Writing)00:35 Markets wrap-up by Jonti Warris (Investment Writing)07:13 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis)09:18 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. 

Two of this week’s biggest stories collided when US President Donald Trump addressed the World Economic Forum, where he made some big demands. US stock markets rose in late trading yesterday and are on track to end the week higher. European stock markets are also building on the positive momentum seen earlier in the week. Meanwhile in Asia, the Bank of Japan’s decision to raise interest rates has caused some market moves. Joining us to break down the latest in FX and metals is Tim Gagie, Head of FX & PM Solutions in Geneva, and we are also joined by Richard Tang, Head of Research Hong Kong, for a thorough update on Asian markets.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Lucija Caculovic (Investment Writing)07:18 FX and metals: Tim Gagie (Head of FX & PM Solutions Geneva)11:31 Asia update: Richard Tang (Head of Research Hong Kong)21:50 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.

The Euro Stoxx 600 index reached an all-time high yesterday, as did the German DAX index, led by strong earnings from companies like Siemens Energy and Adidas. In the US, President Trump's USD 100 billion AI infrastructure plan, called Stargate, and its focus on growth rather than protectionism has eased inflation concerns, causing the US yield curve and the US dollar to dip. US equities closer higher, but the CEO of JPMorgan cautioned that asset prices are somewhat inflated. Gold is near its all-time high. In Japan, the latest economic data supports a rate hike tomorrow. Carsten Menke, Head of Next Generation Research, notes that Stargate constitutes a continuation, rather than an acceleration, of the established structural trend.00:00 Introduction by Helen Freer (Investment Writing)00:34 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:02 Expansion of AI infrastructure: Carsten Menke (Head of Next Generation Research)10:08 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.

Headline risks are back. Stocks extended their gains after Trump announced a major AI infrastructure initiative called Stargate, while vowing to hit the European Union and China with tariffs. Markets were focusing on the positive news, pushing global equities higher. This has also been supported by positive earnings news. Leonardo Pellandini from Equity Strategy discusses the ongoing earnings season in more detail, while Dario Messi, Head of Fixed Income Research, shares his view on the world of bonds and how to navigate the credit market.00:00 Introduction by Bernadette Anderko (Investment Writing)00:34 Markets wrap-up by Jan Bopp (Investment Writing)05:41 Bond Market update: Dario Messi (Head of Fixed Income Research)09:35 Earnings Season update: Leonardo Pellandini (Equity Strategy)13:10 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.

President Trump has spent his first hours back in the White House tearing up many of Joe Biden’s policiesand issuing a flurry of executive orders on matters including immigration, energy and the cost of living. The US dollar surged on news of potential tariffs on Canada and Mexico, while oil prices slipped after Trump announced plans to boost US oil and gas production. Manuel Villegas, Next Generation Research, shares his thoughts on digital assets amid increased volatility in the new Trump 2.0 era.00:00 Introduction by Helen Freer (Investment Writing)00:38 Markets wrap-up by Jonti Warris (Investment Writing)06:24 Digital assets update by Manuel Villegas (Next Generation Research)10:19 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. 

Bitcoin is trading sharply higher as Donald Trump prepares to take office as the 47th President of the United States, with many anticipating that his presidency will further boost the price of the largest cryptocurrency. Meanwhile, despite US markets being closed today, investors are bracing themselves for a hectic week ahead, marked by the new administration's expected announcement of numerous executive orders, the commencement of the World Economic Forum in Davos, and the intensification of earnings season. Mensur Pocinci, Head of Technical Analysis, believes that stocks still have room to rise, while yields appear poised for a downturn.00:00 Introduction by Bernadette Anderko (Investment Writing)00:38 Markets wrap-up by Roman Canziani (Head of Investment Writing)07:00 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis)10:27 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.

US banks kick off the earnings season with strong beats, while European luxury companies such as Richemont impress with better-than-expected sales. Comments from Fed official Waller on potential rate cuts in 2025 boost investor sentiment, supporting equities and pushing yields lower against a backdrop of robust but slightly softer US economic data. We have Bence Boldvai from our FX & PM Solutions team on the show to talk about the currency market and the particularities of the gold market.00:00 Introduction by Bernadette Anderko (Investment Writing)00:27 Markets wrap-up by Jan Bopp (Investment Writing)06:13 FX and metals: Bence Boldvai (FX & PM Advisory)09:50 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.

Stocks rally and government bond yields drop on positive inflation reports from the US and the UK. Another catalyst for the positive mood across markets is the season's first earnings reports from several Wall Street heavyweights, which all beat estimates and provided positive outlooks. Meanwhile, gold has been quietly gaining ground, despite a strengthening US dollar. We're joined by Carsten Menke, Head of Next Generation Research, who shares his thoughts on why he believes last year's rally in the yellow metal might resume.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:10 Gold: Carsten Menke (Head of Next Generation Research)11:27 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.