Moving Markets

Stocks across the globe moved higher yesterday following the Federal Reserve’s interest rate cut, with both the Dow and S&P 500 seeing new all-time highs. Meanwhile, other major central banks – including those in England, Norway, Turkey, Japan and China – opted to keep their key rates steady. Joining us on today’s show is Tim Gagie, Head of FX & PM Solutions in Geneva, who offers insights on the implications of some of these central bank decisions for currency markets and identifies potential opportunities for investors.00:00 Introduction by Bernadette Anderko (Investment Writing)00:31 Markets wrap-up by Lucija Caculovic (Investment Writing)05:40 Currencies and metals: Tim Gagie (Head of FX & PM Solutions Geneva)09:51 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 wherever you get your podcasts.

In a surprise move, the Federal Reserve has cut its benchmark interest rate by 0.5%, kicking off its first easing cycle since the pandemic began. But unlike previous rate cuts, this decision is not a response to economic weakness – instead, it's a proactive bid to prevent future downturns. We break down what this means for markets, including stocks, bonds, gold and oil. Among the guests today are Norbert Rücker, Head of Economics & Next Generation Research, and Nicolas Jordan, CIO Office, who share their insights on the implications for investors.00:00 Introduction by Helen Freer (Investment Writing)00:41 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:33 Commodities – energy and gold: Norbert Rücker (Head of Economics & Next Generation Research)11:21 Update from the CIO Office: Nicolas Jordan (CIO Strategy & Investment Analysis)14:47 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.

It was an up-and-down session for US equities yesterday. Markets reacted positively to stronger-than-expected US economic data before worrying about getting ahead of itself before today’s US central bank meeting. Dario Messi, Head of Fixed Income Research, talks about the unusually high uncertainty ahead of today’s FOMC decision and recommends focusing on the messaging.00:00 Introduction by Bernadette Anderko (Investment Writing)00:31 Markets wrap-up by Jan Bopp (Investment Writing)05:48 Bond markets and Central banks: Dario Messi (Head of Fixed Income Research)09:53 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.

The US Empire State manufacturing survey showed a jump in sentiment, a welcome sign amid weakness in the manufacturing sector. Ahead of the Federal Reserve's interest rate decision, markets are pricing in a 50 basis point cut, leading to a rotation out of tech stocks and the S&P 500 Equal Weighted Index hitting an all-time high. Microsoft announced a new USD 60 billion share buyback and a 10% dividend increase. Gold hit an all-time high yesterday. Hong Kong's Hang Seng rallied after a successful IPO by Midea Group. Manuel Villegas, Next Generation Research, explains why Bitcoin is a risk-on asset and what this means ahead of US interest rate cuts.00:00 Introduction by Bernadette Anderko (Investment Writing)00:21 Markets wrap-up by Mike Rauber (Investment Writing)07:40 Digital assets by Manuel Villegas (Next Generation Research)13:06 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 eagerly anticipating a rate cut from the US Federal Reserve this week. We only have to wait until Wednesday to find out whether they opt for 25 or 50 basis points. Ahead of this, US stock markets rallied. European markets also advanced after the ECB cut rates on Thursday. Asian markets are a little more mixed after disappointing Chinese data and the upcoming Bank of Japan meeting on Friday. Markus Wachter joins the show today to provide the technical viewpoint on, amongst other things, precious metals.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Bernadette Anderko (Investment Writing)06:06 Technical Analysis update: Markus Wachter (Technical Analysis Research)09:51 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 wherever you get your podcasts.

Markets are abuzz with speculation that the Federal Reserve may deliver a larger-than-expected 50 basis-point rate cut next week. As a result, yields have tumbled, and gold prices have surged to new record highs. Meanwhile, equity markets continue their winning streak, with the S&P 500 index closing higher for the fourth consecutive day. Tim Gagie, Head of FX/PM PB Sales in Geneva, also joins the podcast today and he breaks down the latest developments in currencies and metals markets and shares his insights on the current trading landscape.00:00 Introduction by Helen Freer (Investment Writing)00:25 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:00 Currencies and metals: Tim Gagie (Head of FX & PM Solutions Geneva)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.

US inflation unexpectedly rose in August, with core inflation up 0.3% month-on-month and 3.2% year-on-year. The data suggests that the Fed will cut rates next week by 25bps rather than 50bps. Markets initially reacted negatively, but US equities later rallied strongly, led by tech stocks. OpenAI is in the news for a new round of funding, valuing the company at USD 150bn. The ECB meets today and is expected to cut rates due to weak demand and low wage growth. Commerzbank rose almost 17% yesterday after UniCredit confirmed reports that it had taken a 9% stake in the company, fuelling takeover speculation. Carsten Menke, Head of Next Generation Research, suggests that gold investors need to be patient before this year's record moves are repeated.00:00 Introduction by Helen Freer (Investment Writing) 00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:47 Gold update: Carsten Menke (Head of Next Generation Research)11:35 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.

Tech stocks led the charge overnight, while financials felt the pinch, as yields fell, and the S&P 500 eked out a gain. But despite the market's mixed signals, all eyes were on the presidential debate between Kamala Harris and Donald Trump - and some believe Harris may have gained ground. Meanwhile, with a packed schedule of central bank meetings on the horizon, we're joined by Eirini Tsekeridou from Fixed Income Research to share her insights on what to expect from policymakers in the critical weeks ahead.00:00 Introduction by Bernadette Anderko (Investment Writing)00:35 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:33 Central bank expectations/implications: Eirini Tsekeridou (Fixed Income Research)11:21 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 stocks rebounded yesterday following the worst week for the S&P 500 since March 2023, as investors await US inflation data for clues on the size of the US Federal Reserve’s coming interest-rate cut. Meanwhile, weakness in Chinese equities is intensifying as a benchmark of onshore Chinese stocks hovers near its lowest close since January 2019. Manuel Villegas, Next Generation Research, provides an update on the latest price moves in digital assets and how US politics and macroeconomics are impacting Bitcoin.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up by Jonti Warris (Investment Writing)07:37 Digital assets update: Manuel Villegas (Next Generation 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.

The US employment report for August showed a slower than expected increase in jobs, but a fall in the unemployment rate to 4.2%. Markets reacted negatively, with the S&P 500 having its worst week since March 2023, closing at 5408 points. Other asset classes such as Bitcoin and oil also fell sharply. Key events this week include the release of Apple's iPhone 16 on Monday, the Harris-Trump presidential debate on Tuesday and key economic data releases, including US consumer price inflation on Wednesday and an expected ECB rate cut on Thursday. Mensur Pocinci, Head of Technical Analysis, notes that 5350 is a key support level for the S&P 500.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:58 Technical Analysis update: Mensur Pocinci (Head of Technical Analysis Research)11:05 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.