Moving Markets

Big tech and chip companies were the main drivers of stock markets yesterday ahead of the all-important US June CPI data due out today. Even the CAC 40 closed the day in positive territory, despite France’s uncertain political future. Fed Chair Jerome Powell told Congress that the risks to the economy are more balanced between inflation and recession, and that the Fed does not need inflation to fall below 2% before cutting rates. Norbert Rücker, Head of Economics & Next Generation Research, updates listeners on his expectations for the oil/energy markets.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Bernadette Anderko (Investment Writing)06:11 Oil/Energy market update by Norbert Rücker (Head of Economics & Next Generation Research)10:48 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 stocks inched higher yesterday with the S&P 500 and Nasdaq indices reaching new record highs following Fed Chair Powell’s encouraging remarks that the US is no longer an overheated economy. Dario Messi, Head of Fixed Income Research, provides an update on the bond market ahead of the ECB’s monetary policy meeting next week. And Mathieu Racheter, Head of Equity Strategy gives a preview of what to expect from the Q2 earnings season.00:00 Introduction by Bernadette Anderko (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)06:20 Bond market update by Dario Messi (Head of Fixed Income Research)11:25 Q2 Earnings Season Preview by Mathieu Racheter (Head of Equity Strategy)16:06 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. 

While European markets remain preoccupied with the prospect of a prolonged period of political uncertainty in France, investors in the US are shifting their focus to the upcoming earnings season, with the S&P 500 hitting a new all-time high. In Japan, the Nikkei 225 has also hit a new record high as the country sees a significant increase in machine tool orders. Meanwhile, the Chinese market is struggling with uncertainty after the People’s Bank of China announced new liquidity operations yesterday. Manuel Villegas from Next Generation Research joins us today to discuss Bitcoin’s recent price drop and why investors should brace themselves for more volatility ahead.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Lucija Caculovic (Investment Writing)05:57 Digital assets update by Manuel Villegas (Next Generation Research)09:49 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 bond market is starting to think about what another Trump presidency could mean for yields. Despite slowing inflation and weak growth figures in the US and Europe, equities are thriving – the S&P 500 and Japan's Topix have just hit new all-time highs. On Friday, US Treasury yields fell and gold rose after a downward revision to US employment data. The Q2 earnings season kicks off later this week, with analysts expecting a 9% year-on-year rise in EPS, the strongest since Q1 2022. Kaspar Köchli, Economist, talks about the French election and the likely impact on French assets of the uncertainty following Sunday's vote. Mensur Pocinci, Head of Technical Analysis Research, stresses that gold is outperforming every other major asset class except US large-cap equities.00:00 Introduction by Helen Freer (Investment Writing)00:34 Markets wrap-up by Mike Rauber (Investment Writing)07:18 French election result by Kaspar Köchli (Economist)11:34 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)14:30 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.

With the US celebrating Independence Day yesterday, investors turned their attention to Europe where French equities continue to outperform ahead of the second round of the country's parliamentary elections. Meanwhile, UK voters have handed power to the Labour Party. Dave Meier, Macro & Next Generation Research, puts the election result into context and Tim Gagie, Head of FX & PM Solutions Geneva, talks about currencies and metals and prepares you for the weekend with his now traditional end-of-week joke.00:00 Introduction by Helen Freer (Investment Writing)00:34 Markets wrap-up by Roman Canziani (Head of Investment Writing)05:59 UK election result by David Meier (Investment Research Analyst)10:21 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)15:10 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.

A string of weaker macroeconomic data out of the US yesterday was unable to shake investor sentiment, with the S&P 500 and Nasdaq Composite indices touching fresh all-time highs, propelled by a rally in mega-cap tech stocks. Nicolas Jordan, CIO Strategy & Investment Analysis, provides an update from our CIO office. Dr Damien Ng, Next Generation Research, joins us to talk about longevity and explains why we should be paying attention to extending our healthspan.00:00 Introduction by Helen Freer (Investment Writing)00:34 Markets wrap-up by Jonti Warris (Investment Writing)07:00 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)09:58 Longevity by Damien Ng (Next Generation Research)13:49 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 reacted positively to Fed Chair Powell's upbeat comments on disinflation, sending US equities to another record high and bond yields lower. European equities struggled however, amid prevailing political concerns, despite inflationary pressures easing in June. Dario Messi, Head of Fixed Income Research, discusses what political risks in Europe mean for bond investors and why he believes there is value in peripheral European bonds.00:00 Introduction by Bernadette Anderko (Investment Writing)00:31 Markets wrap-up by Jan Bopp (Investment Writing)06:08 European bonds in the current climate by Dario Messi (Head of Fixed Income Research)10:19 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.

Germany's Ifo Institute predicts that inflation could fall to 2% by August. European equities rose after the first round of parliamentary elections in France suggested that no party would win an outright majority in the second round. The Nasdaq hit an all-time high, but stocks were held back by a jump in Treasury yields. In Asia, Japan's Nikkei 225 is back above 40,000. Manuel Villegas from Next Generation Research notes that crypto has become politicised in the US, with recent gains coming on the back of Donald Trump's increased chances of becoming the next US president following his debate with President Biden.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Mike Rauber (Investment Writing)06:44 Digital assets update by Manuel Villegas (Next Generation Research)10:59 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.

Most of the key US and European indices closed the first half of the year in positive territory, with the Nasdaq Composite turning in 18.1% in H1. In Asia, the Taiwan Weighted Index made a 28% gain. Mensur Pocinci, Head of Technical Analysis, points out what he thinks investors should take away from the first half of the year. Europe’s focus is now firmly on the second round of the French elections – these will take place on Sunday and all parties other than the National Rally will be out to prevent them from achieving a majority.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Bernadette Anderko (Investment Writing)06:45 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)09:59 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.

A batch of underwhelming data out of the US keeps rate cut expectations for the Fed alive. While that helped US yields to trade lower in yesterday’s session, European yields remained steady for the most part ahead of this Sunday’s first round of parliamentary elections in France. The political uncertainty continued to weigh on equities in Europe, while their US counterparts ended the day higher, with the Magnificent 7 cohort closing at a new record. Tim Gagie, Head of FX & PM Solutions Geneva, talks about what is going on in FX markets and explains why it might be a good idea to protect your gains in gold.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Jan Bopp (Investment Writing)05:51 Currencies and metals: Tim Gagie (Head of FX & PM Solutions Geneva)10:42 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.