Moving Markets

US stocks rebounded yesterday led by technology shares after AI developments announced by Meta and Anthropic. Strong US economic data lifted the broader market and boosted small caps. In Europe, autos rose on lower‑than‑expected US tariffs, while banks fell. Taiwan and South Korea climbed on AI optimism, and Japan advanced after the Prime Minister nominated two reflation‑focused academics to the Bank of Japan’s policy board, fuelling expectations of slow rate increases and keeping the yen weak. Precious metals strengthened with gold and silver rising on geopolitical tensions, China’s market return, and continued safe-haven demand. Dario Messi, Head of Fixed Income Strategy Research, explains why artificial intelligence could initially support bonds.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:28) - Markets wrap-up: Mike Rauber, Product & Investment Content (06:02) - Bond market update: Dario Messi, Head of Fixed Income Research (10:38) - 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.

Damien Ng, a Next Generation research analyst specializing in genomics and life-science trends, discusses a new blood test that predicts Alzheimer’s onset years ahead. He explains the Nature Medicine study, how genomic markers like APOE4 boost prediction, and what this breakthrough means for trial design, precision medicine and investment opportunities in genomics and pharma.

The US Supreme Court struck down President Donald Trump’s global tariffs last week, dealing a blow to his administration’s centrepiece trade policy. The administration quickly signalled that it would pursue 10%, then 15% global tariffs. While equity markets rallied on Friday, risk sentiment has been dampened this morning as uncertainty about trade policy returns. Mensur Pocinci, Head of Technical Analysis, takes a step back from the limited geopolitical visibility and looks at what the charts on Treasury yields, the US dollar, and precious metals say. A fast, lively breakdown of what’s moving markets — tune in!(00:00) - Introduction: Helen Freer, Product & Investment Content (00:57) - Markets wrap-up: Jan Bopp, Product & Investment Content (06:28) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis (08:37) - 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.

How sustainable is the narrow leadership of US equity markets? With aggressive AI-related capex plans raising concerns about long-term returns, investors have been reassessing concentrated positions in US mega cap technology and turning their attention elsewhere. What should be in focus as they look to broaden their portfolios?In this edition of Moving Markets – The View Beyond, Bernadette Anderko is joined by Nenad Dinic, one of Julius Baer’s equity strategists, to discuss the drivers behind the current equity market rotation. They explore the broadening of market leadership beyond the AI-linked hyperscalers, the implications of massive capital expenditure plans, and the importance of selectivity within software and IT. The conversation also covers renewed investor interest in non-US equities, with a focus on Europe, Switzerland, Japan, and emerging markets, as well as sector preferences for healthcare, financials, and miners. Nenad shares why diversification is more critical than ever as investors position for the next phase of the cycle.(00:00) - Introduction (01:07) - Factors behind the improvement in market breadth (03:35) - How AI is reshaping equity leadership   (05:45) - Is the software selloff overdone?   (08:12) - Diversification beyond US equities: Flows and drivers   (09:20) - Regions benefiting from the broadening (12:04) - Healthcare, financials, and miners   (13:58) - Key takeaways (14:27) - Closing remarks and legal disclaimer 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 and European equity markets fell yesterday following President Trump’s announcement that Iran has 10-15 days to reach a deal over its nuclear programme. This pushed oil prices up over USD 72/ barrel this morning. On the bright side, Indian and South Korean equity markets climbed today. US Futures are also higher ahead of key US data due out today, and the possibility of the announcement of the highly anticipated Supreme Court decision on the legality of Trump’s tariffs under the International Emergency Economic Powers Act. Fixed Income Research analyst Afonso Borges discusses expectations around the data and the court ruling as well as unpacking this week’s Fed minutes.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:31) - Markets wrap-up: Bernadette Anderko, Product & Investment Content (05:58) - Bond market update: Afonso Borges, Fixed Income Research (10:53) - 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 stocks climbed to new highs as investors responded positively to solid corporate earnings. Meanwhile, the latest Federal Reserve minutes revealed a divided stance among US monetary policymakers. In Asia, South Korea’s Kospi index - often seen as a bellwether for AI-related trades - surged to a fresh record amid easing concerns over AI‑driven disruption. In today’s episode, Carsten Menke, Head of Next Generation Research, discusses the emerging winners and losers as agentic AI reshapes the software sector.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:28) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content (05:55) - AI and software: Carsten Menke, Head of Next Generation Research (09:50) - 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.

As US markets returned from the holiday, volatility re-emerged across AI-linked equities. Europe showed resilience but commodities fell on easing geopolitics. In precious metals, volatility remains elevated due to thin trading during Asian hours amid the Lunar New Year holiday. Tim Gagie, Head of FX Advisory in Geneva, talks about what that means for gold and silver going forward and why dips in AUD and NZD are looking like an opportunity. A fast, lively breakdown of what’s moving markets – tune in!(00:00) - Introduction: Lucija Caculovic, Product & Investment Content (00:34) - Markets wrap-up: Jan Bopp, Product & Investment Content (06:00) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva (10:21) - 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.

With US markets closed for Presidents’ Day and much of Asia shut for Lunar New Year, trading was thin yesterday and overnight, yet European equities still managed to edge higher. Swiss GDP data showed a slight rebound in Q4, although overall growth for 2025 remained below the historical average. Geopolitical developments also shaped sentiment, as investors digested the outcomes of the Munich Security Conference. Meanwhile, talks between Ukraine and Russia, as well as between Iran and the US, are taking place in Geneva today — highlighting how global politics continues to steer markets and keeping oil and gold firmly in the spotlight. On today’s show, we were also joined by Manuel Villegas from Next Generation for an update on the crypto world, which has had a tough start to the new year.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:31) - Markets wrap-up: Lucija Caculovic, Product & Investment Content (06:29) - Digital Assets: Manuel Villegas, Next Generation Research (10:44) - 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.

Global equity markets are starting the week on a subdued note, with US markets closed today for President’s Day. Liquidity is also thinner than usual due to the Chinese Lunar New Year holidays and carnival celebrations in parts of South America. Japanese equities are seeing some profit-taking following weaker‑than‑expected GDP data, while gold and silver are also trading lower. In today’s episode, we’re joined by Mensur Pocinci, Head of Technical Analysis, who shares why he remains wary on US equities.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (01:14) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content (06:18) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis (09:51) - 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.

Recent weeks have seen extreme cross‑asset volatility, with sharp unwinds hitting US and China tech stocks, precious metals and cryptocurrencies. In China, renewed concerns about regulatory scrutiny are weighing on sentiment, even as the case for a stronger renminbi continues to build.In this episode of Moving Markets: The View Beyond, Richard Tang, Head of Research Hong Kong at Julius Baer, speaks with Hong Hao, Managing Partner and CIO of Lotus Asset Management Ltd., to discuss what the market dislocations mean for investors, and how these cross-asset dynamics may shape positioning in the weeks ahead.(00:30) - The big precious metals selloff (04:04) - Cryptocurrencies – near and long-term outlook (08:13) - Industrial metals remain supported by rising strategic demand (10:36) - China tech – is it time to buy the dip? (13:55) - Defining “value” in China’s rotation (15:32) - Regulatory scrutiny – how worried should investors be? (20:20) - A-shares vs H-shares in the short term? (23:03) - Renminbi strength and outlook