Moving Markets

US equities rise on falling US Treasury yields and strong performances from artificial intelligence stocks Microsoft and Nvidia. The Bank of England governor warns that slower growth will not stop it from raising interest rates. Talk of more support for China's big property developers sends their stocks and bonds higher. Mathieu Racheter, Head of Equity Strategy, notes that quality growth will continue to lead the way, underpinning our preference for US equities. And Manuel Villegas, Next Generation Research, talks about crypto assets as investors wait to see if the SEC will approve spot bitcoin ETFs.00:00 Introduction by Jonti Warris (Investment Writing)00:38 Markets wrap-up by Mike Rauber (Investment Writing)05:44 Equity market update by Mathieu Racheter (Head of Equity Strategy)08:22 Digital assets update by Manuel Villegas (Next Generation Research)11:00 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 your favourite podcast player. 

Last Friday, the board of OpenAI fired founder and CEO Sam Altman and appointed Emmett Shear, the former head of Amazon's Twitch game streaming site, as its new CEO. US Treasuries are on track for their best month since March, and Argentine voters elected libertarian outsider Javier Milei as their new president in a political upset. Mensur Pocinci, Head of Technical Analysis Research, talks about whether small caps are finally starting to outperform large caps, bonds benefitting from the tailwind of lower interest rates, and gold's attempt to break above USD 2,000 an ounce in recent weeks.00:00 Introduction by Mike Rauber (Investment Writing)00:34 Markets wrap-up by Alexander Petersen (Investment Writing)04:16 Technical market view by Mensur Pocinci (Head of Technical Analysis Research)08:48 Closing remarks by Mike Rauber (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. 

Chinese President Xi Jinping concluded a positive visit to the US, while Alibaba Group withdrew plans to spin off its USD 11 billion cloud business and Apple is facing delays in developing its own modem for the iPhone. Tim Gagie, Head of FX & PM Solutions Geneva, gives his views on the latest developments in currencies and metals. 00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Alexander Petersen (Investment Writing)04:01 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)09:47 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. 

The S&P 500, Dow Jones and Nasdaq indices are all up more than 6% in November, with the Nasdaq climbing 9.8%. Stocks were buoyed further yesterday after US inflation data revealed a 0.5% drop in the PPI index for October. Markets in Asia were lower overnight following disappointing Chinese home price data. Good news came from the Presidents of China and the US agreeing to resume high-level military communication.  Carsten Menke, Head of Next Generation Research, explains why a little more patience is needed before copper prices go higher, and Nicolas Jordan, CIO Strategy & Investment Analysis, provides the latest news from our Investment Committee.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Bernadette Anderko (Investment Writing)05:32 Copper update by Carsten Menke (Head of Next Generation Research)10:13 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)13:38 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 rallied strongly, while US Treasury yields plunged after US inflation data surprised marginally to the downside, providing hope that the Fed has concluded its tightening cycle. Eirini Tsekeridou, Fixed Income Strategy, gives an update on the volatility in the US Treasury bond market. And Mathieu Racheter, Head of Equity Strategy, shares with us his preferred sweet spots in the healthcare sector.00:00 Introduction by Bernadette Anderko (Investment Writing)01:03 Markets wrap-up by Jonti Warris (Investment Writing)06:20 US bonds update by Eirini Tsekeridou (Fixed Income Strategy)08:49 Healthcare sector update by Mathieu Racheter (Head of Equity Strategy)12:41 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. 

The S&P 500 and the Nasdaq Composite finished down by 0.1% and 0.2%, respectively on Monday, whilst the Dow closed up just shy of 0.2%. All three indices seem set to open higher this afternoon, reflecting market expectations of a drop in US CPI to 3.3% in October from 3.7% in September. China’s gains overnight stalled as markets await a swathe of economic data and big tech results this week. Manuel Villegas, Next Generation Research, joins the show today to update us on the latest in the crypto space.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Bernadette Anderko (Investment Writing)06:13 Digital assets update by Manuel Villegas (Next Generation Research)10:35 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 your favourite podcast player.

ECB President Christine Lagarde said that interest rates will have to stay high for longer. Weakness in Richemont and Diageo weighed on European equity markets on Friday. All sectors in the S&P 500 rose as the year-end rally in equities resumed, even as the University of Michigan survey showed a rise in long-term inflation expectations and the impact of higher rates on consumer sentiment. The JPY is trading at its lowest level since October 2022. US President Biden and China's Xi Jinping will meet on Wednesday. Mensur Pocinci, Head of Technical Analysis Research, shares his thoughts on the year-end rally, bond yields and oil.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)06:37 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)10:15 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 ended an eight-day winning streak on the back of a weak US Treasury bond sale and a more hawkish than expected speech by Federal Reserve Chairman Jerome Powell. A cyber-attack forced the US unit of a Chinese bank to send the settlement of Treasuries in physical form to the counterparty. Siemens Energy is still negotiating for critical support as it faces a huge loss. Crypto assets rally on hopes of the approval of a spot bitcoin ETF in the US. Tim Gagie, Head of FX & PM Solutions Geneva, notes that FX markets are at the crossroads of many conflicting currents, but that USD weakness is still on the cards.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Mike Rauber (Investment Writing)06:13 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)10:35 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 your favourite podcast player.

As US Treasuries steady and investors anticipate a peak in interest rates, US equity markets advanced for the eighth straight session. And the latest Chinese CPI data hints at low-for-longer growth expectations in China. Carsten Menke, Head of Next Generation Research, shares his thoughts on the gold market’s reaction to the current geopolitical shock and the outlook for the precious metal.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Jonti Warris (Investment Writing)04:55 Gold update by Carsten Menke (Head of Next Generation Research)09:17 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. 

Oil prices have fallen sharply over the past three weeks and are now at a 3-month low. Equity markets are contemplating whether the Fed will deliver a pivot in 2024. Dario Messi, Fixed Income Strategy, provides insights into the Bank’s view on high yield bonds, whilst Mathieu Racheter, Head of Equity Strategy, updates on the Q3 earnings season and the development of the year-end rally.00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Alexander Petersen (Investment Writing)03:31 Fixed Income update by Dario Messi (Fixed Income Strategy)08:30 Equities update by Mathieu Racheter (Head of Equity Strategy)12:49 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.