Moving Markets

Lower yields after 'things have gone too far', two mega-mergers and the earnings season in full swing this week have driven markets in recent hours. And bitcoin is back in the news after surpassing USD 35,000 overnight. Find out why Manuel Villegas, crypto analyst in our Next Generation team, thinks the crypto winter may be over.00:00 Introduction by Bernadette Anderko (Investment Writing)00:25 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:31 Digital Assets update by Manuel Villegas (Next Generation Research)10:12 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. 

In last week’s risk-off environment, the Swiss franc and gold have been the safe haven of choice for investors, while government bonds – another traditional safe haven – are showing weakness amid inflation and interest rate uncertainty. In other news, China's onshore equities are at their lowest since 2019 and Argentina faces another turbulent period ahead of the presidential run-off election on 19 November. Mensur Pocinci, Head of Technical Analysis, notes that a year-end rally could materialise if the S&P 500 index holds above the key 4,200 level.00:00 Introduction by Lucija Caculovic (Investment Writing)00:31 Markets wrap-up by Mike Rauber (Investment Writing)07:18 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)10:37 Closing remarks by Lucija Caculovic (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. 

President Joe Biden appealed directly to the American people to support funding for Israel and Ukraine's war efforts. Federal Reserve Chairman Jerome Powell indicated that the US central bank is inclined to keep interest rates on hold at its next meeting. Data from EPFR Global and Morgan Stanley showed that US and European fund managers have sold a net USD 1.6 billion of Chinese equities so far this month. As people are living longer but there is also an increase in the prevalence of various diseases, Damien Ng from the Next Generation Research team provides insights on the topic of extended longevity.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up by Alexander Petersen (Investment Writing)03:42 Extended Longevity by Damien Ng (Next Generation Research)10:33 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. 

Mounting tensions in the Middle East and fears over elevated bond yields have sent markets into risk-aversion mode, as investors also try to decipher clues from the Fed around rates staying higher for longer. Yesterday, stocks came under pressure and oil gained as Iran stepped up its rhetoric against Israel. As investors flee to safe havens amid escalating geopolitics, Tim Gagie, Head of FX & PM Solutions in Geneva, shares his thoughts on the main beneficiaries in currencies and precious metals.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)06:22 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)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 your favourite podcast player. 

A robust set of economic data from the US was enough to push yields sharply higher in recent hours, while safe-haven flows ebbed despite a further escalation in the Israel-Hamas conflict. Financial markets are torn between geopolitical developments and a great start to the US earnings season. Dario Messi, Fixed Income Research, notes that central bank guidance on monetary policy has increased again.00:00 Introduction by Mike Rauber (Investment Writing)00:44 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:49 Fixed income update by Dario Messi (Fixed Income Research)11:35 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. 

The view that the conflict in the Middle East may remain geographically limited with little impact on markets was the leading narrative yesterday. US equities and, today, Asian equities rose on the resulting risk-on sentiment. A strong start to the US earnings season also helped to improve investor sentiment after a rocky weekend. Manuel Villegas, Next Generation Research, talks about how the macro headwinds for bitcoin are fading as the approval of a spot bitcoin ETF looks increasingly likely.00:00 Introduction by Jonti Warris (Investment Writing)00:34 Markets wrap-up by Mike Rauber (Investment Writing)06:36 Digital assets update by Manuel Villegas (Next Generation Research)10:21 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.

As the US and its allies stepped up efforts to prevent further escalation in the Israel-Hamas conflict, safe-havens lost some ground and helped equity futures move higher. Meanwhile, the earnings season kicked off last week with some impressive results and is set to gather pace this week. In Asia, Chinese equities failed to benefit from the central bank’s liquidity injection and are suffering from renewed tensions with the US. Mensur Pocinci, Head of Technical Analysis, joins today’s episode to share his views on equities and commodities.00:00 Introduction by Roman Canziani (Head of Investment Writing)00:28 Markets wrap-up by Lucija Caculovic (Investment Writing)06:10 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)08:51 Closing remarks by Roman Canziani (Head of 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.

Although the latest US CPI figures were only slightly higher than expected, they were a welcome trigger for traders to take some profits after a few strong days. However, expectations for the first interest rate cuts in the US have been pushed back, reaffirming the market's current 'higher for longer' mantra. Tim Gagie, Head of FX & PM Solutions in Geneva, sums up an intense week for currency and metals traders.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)05:58 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)10:04 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.

Equity markets are clearly anticipating a CPI report today that will show inflation slowing in the US, as most of the main global indices closed their sessions higher yesterday. China’s stock market was boosted by an announcement from Central Huijin Investment Ltd that they are increasing (and will continue to increase) their stake in four Chinese banks. Norbert Rücker, Head of Macro & Next Generation Research, puts the oil market in perspective in light of the ongoing geopolitical situation, and Nicolas Jordan, CIO Strategy & Investment Analysis, explains why our Investment Committee continues to be bullish. 00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Bernadette Anderko (Investment Writing)05:47 Oil by Norbert Ruecker (Head of Macro & Next Generation Research)10:41 Latest news from the Investment Committee by Nicolas Jordan (CIO Strategy & Investment Analysis)13:31 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 Treasury yields posted their biggest one-day drop all year on expectations that the US Federal Reserve has finished raising interest rates, and as safe-haven demand for Treasuries increased. The fall in yields also helped equity markets. In Asia, potential new stimulus measures from China are improving investor sentiment and supporting markets. Oil, meanwhile, remains in the spotlight amid the Israel-Hamas conflict. Dario Messi from Fixed Income Research joins the show today to shed more light on yields and what’s been driving them.00:00 Introduction by Bernadette Anderko (Investment Writing)00:21 Markets wrap-up by Lucija Caculovic (Investment Writing)05:25 Bond Market Update by Dario Messi (Fixed Income Research)10:27 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.