Moving Markets

US stock markets slipped yesterday after US factory orders fell by more than expected in October adding to signs that the US economy looks set to slow in the fourth quarter. The latest core inflation data out of Tokyo slowed from the previous month in an encouraging sign that cost pressure in Japan is easing. Manuel Villegas, Next Generation Research, talks about the latest Bitcoin rally and whether it looks sustainable.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)05:28 Digital assets update by Manuel Villegas (Next Generation Research)09:04 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.

US equities rallied and bond yields fell sharply on Friday after comments from Fed Chairman Jerome Powell raised market bets that interest rates will be cut next year sooner than markets had previously discounted. Gold rose to an all-time high in Asian trading today, at one point reaching USD 2,135 an ounce. Bitcoin rose above USD 41,500 on the prospect of lower interest rates and the approval of a spot Bitcoin ETF. Roche buys Carmot Therapeutics to enter the obesity treatment market. And at COP 28, more than 20 countries pledged to triple nuclear power by 2050. Mensur Pocinci, Head of Technical Analysis Research, notes that the decline in bond yields could be much faster than most expect.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)05:55 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research08:47 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 your favourite podcast player. 

Equities and bonds rallied in November on the back of softer inflation data and inflation expectations. This was confirmed by yesterday's data releases from the US and the eurozone, with the latter reporting year-on-year inflation of just 2.4% in November, close to the ECB's 2.0% target. Oil moved lower on an uninspiring OPEC+ decision to cut output and a report showing record US production in September 2023. Chinese equities are off their lows on rumours that state-owned companies have been buying local ETFs. The Israel-Hamas ceasefire appears to have ended but markets have remained calm. All eyes are on today's fireside chat with Federal Reserve Chairman Jerome Powell. Tim Gagie, Head of FX & PM Solutions Geneva, notes that you can have all the protection you want in a portfolio but it does not do you any good if you never take any profits. 00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)06:28 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)12:22 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. 

Global stocks are on course for their best month in three years, as bond yields continue to tumble on speculation that the US Federal Reserve is done tightening and will start cutting rates next year. This has led to the US dollar falling further against its peers, with the greenback set for its worst month in a year. Norbert Rücker, Head of Economics & Next Generation Research, talks to us about the outlook for the oil market and why he thinks the European energy crisis is behind us. And we hear from Nicolas Jordan, CIO Strategy & Investment Analysis, on the outlook for the global economy and whether the year-end rally still has legs.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)05:31 Update on energy markets by Norbert Rücker (Head of Economics & Next Generation Research)10:48 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)13:50 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 your favourite podcast player. 

Federal Reserve Governor Christopher Waller triggered the US Treasury market to rally by saying that he believes that monetary policy is tight enough and that the US economy is likely to pull off a soft landing. Markus Allenspach, Head of Fixed Income Research, shares his views and explains where he sees the best opportunities to build fixed income exposure. 00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:59 US bonds update by Markus Allenspach (Head of Fixed Income Research)13:32 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 economic data prints out of the US showed signs of weakness yesterday, bets that the US Federal Reserve is almost done with its rate-hiking cycle, along with solid Cyber Monday sales, supported the broader risk mood in US markets. The US dollar fell further against its peers and is on course for its worst month in a year. And in the latest news from the world of crypto assets, Manuel Villegas, Next Generation Research, shares his thoughts on the developments at Binance.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)06:05 Digital assets update by Manuel Villegas (Next Generation Research)09:07 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. 

Yields rose across the board towards the end of last week, albeit in thin trading. Meanwhile, equities may be due for a pause before the rally continues into year-end - potentially an opportunity to add exposure. Markus Wachter of Technical Analysis explains why he prefers equities to gold at the moment.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:14 Technical Analysis update by Markus Wachter (Technical Analysis)08:59 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 your favourite podcast player. 

All the major European indices gained yesterday. Today, US PMI data is due. Pharmaceutical company Bayer has said it was unaware of the results of its blood thinner trial prior to issuing over USD 5 billion in bonds. Tim Gagie, Head of FX & PM Solutions Geneva, gives us the latest insights into currencies and metals. 00:00 Introduction by Helen Freer (Investment Writing)00:20 Markets wrap-up by Alexander Petersen (Investment Writing)03:31 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)08:36 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. 

Global equities advanced yesterday as US Treasury yields briefly fell to their lowest level in two months. And in Europe, far-right leader Geert Wilders scores a shock victory in yesterday’s Dutch parliamentary elections. Carsten Menke, Head of Next Generation Research, gives an update on the gold market. And Nicolas Jordan, CIO Strategy & Investment Analysis, shares with us the takeaways from the latest CIO Investment Committee meeting.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Jonti Warris (Investment Writing)06:16 Gold update by Carsten Menke (Head of Next Generation Research)09:56 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)12:45 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. 

ECB President Christine Lagarde said the fight against inflation is not over, with the focus now on the impact of wage rises, while the US Federal Reserve sees interest rates remaining in restrictive territory. Nvidia reported a strong set of results and Sam Altman is back as the CEO of OpenAI. Eirini Tsekeridou, Fixed Income Research, talks about a successful US 20-year Treasury auction earlier this week and why this is a positive for fixed income investors.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Mike Rauber (Investment Writing)06:10 Fixed income update by Eirini Tsekeridou (Fixed Income Research)08:36 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.