Moving Markets

September continues to live up to its bad reputation in financial markets, with equities down between 3% and 7% and bond yields continuing to rise. The Federal Reserve's insistence on keeping policy tighter than expected continues to weigh on markets. Dario Messi, Fixed Income Research, explains how this could also be an opportunity for investors.00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Roman Canziani (Investment Writing)05:57 Bond Market Update by Dario Messi (Fixed Income Research)10:54 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. 

Investor sentiment in Europe took a hit yesterday as concerns around interest rates staying higher for longer and renewed fears in the Chinese economy continued to daze markets. In the US, however, equities managed to snap their four-day losing streaks, shrugging off moves in the bond market. And Manuel Villegas, Next Generation Research, provides an update on the Bitcoin spot ETF saga and what this means for crypto markets. 00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)06:15 Digital assets update by Manuel Villegas (Next Generation Research)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. 

Equity markets closed the week lower after comments from the leading central banks forced investors to realise that they will be stuck with higher rates for longer than expected as the war against inflation continues to be fought at the monetary policy level. Asia’s stock indices are facing their own challenges today as China’s property sector continues to implode. Mensur Pocinci, Head of Technical Analysis, reveals what the charts say about whether September’s sell-off can be converted into a year-end rally.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Bernadette Anderko (Investment Writing)06:00 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)08:52 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. 

This week, one central bank after another made it clear that interest rates need to stay higher for longer. As a result, government bond yields rose sharply, the US dollar strengthened and equities sold off. Only the Bank of Japan remains on a different wavelength, keeping its monetary policy as loose as ever. In Asia, the positive news is that China may allow the immediate transfer of investment-related funds in and out of the country, while India's government bonds will be included in a major global bond index. Tim Gagie, Head of FX & PM Solutions Geneva, notes that the Swiss National Bank's decision not to raise interest rates was the most surprising, but also the most understandable. Carsten Menke, Head of Next Generation Research, makes the point that good news on the economy is bad news for gold.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Mike Rauber (Investment Writing)06:22 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)11:32 Gold by Carsten Menke (Head of Next Generation Research)15:58 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 your favourite podcast player. 

The Federal Reserve left interest rates unchanged but hinted at one more hike in the US this year and that rates will stay higher for longer than market participants had initially thought. Yields are higher and equities lower this morning, with only the US dollar shining. Ronny Kaufmann, CIO Strategy & Investment Analysis, explains that the current expansionary US fiscal policy could make the Federal Reserve's job of balancing monetary policy even harder in the future.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:26 Latest news from the Investment Committee by Ronny Kaufmann (CIO Strategy & Investment Analysis)14:24 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. 

Amid rising pricing pressure in the energy sector, today it’s the turn of the US Federal Reserve to announce its latest interest rate decision. UK CPI data surprises to the downside, in a sign that sticky inflation is slowly starting to come down ahead of the Bank of England rate decision tomorrow. And our Chief Economist David Kohl provides his comprehensive insights on what we can expect from the slew of central bank meetings this week.00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)06:16 Central Bank meetings preview by David Kohl (Chief Economist)15:42 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 basically on hold ahead of the US rate decision tomorrow. The oil rally, which has the potential to raise risks to inflation, has us on tenterhooks in a week dominated by central bank activity. Markus Allenspach, Head of Fixed Income Research, explains why fiscal policy might now be more important than monetary policy in the US. He also delves into the Fed’s dots and what we might read from them.00:00 Introduction by Helen Freer (Investment Writing)00:25 Markets wrap-up by Bernadette Anderko (Investment Writing)05:38 Fixed income update by Markus Allenspach (Head of Fixed Income Research)12:56 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 hit a 10-month high on Friday driven by Saudi Arabian production cuts and optimism around Chinese demand. The Federal Reserve is debating whether to raise interest rates one more time this year and how much to ease rates in 2024. Rental costs in the UK have grown at the fastest rate in at least 10 years. There’s a busy agenda of central bank meetings this week. Markus Wachter from Technical Analysis Research shares his thoughts on equities and oil from a technical perspective.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Alexander Petersen (Investment Writing)04:58 Technical Analysis update by Markus Wachter (Technical Analysis Research)07:50 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. 

European equities rallied yesterday on the prospect of an end to the European Central Bank's tightening cycle even as the growth outlook was downgraded, while US equities rose on strong retail sales figures and Hong Kong equities gained on better-than-expected data from China. Arm's IPO was well received, with the stock rising 25% on its first day of trading; US autoworkers went on strike, affecting a third of the US auto industry; and today's biggest ever options expiration could bring some volatility back to the US equity market. Carsten Menke, Head of Next Generation Research, points out that metal-intensive sectors in China are still struggling. Nicolas Jordan from the CIO office also joins todays show and discusses the investment implications of Europe, the US and China being at very different points in the economic cycle.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Mike Rauber (Investment Writing)06:26 Industrial metals update by Carsten Menke (Head of Next Generation Research)10:27 Latest news from the Investment Committee by Nicolas Jordan (CIO Strategy & Investment Analysis)13:53 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.

Following yesterday’s US inflation data, which came in marginally higher than expectations, today it’s the turn of the European Central Bank to decide whether the unprecedented surge in eurozone inflation has fallen enough to warrant a pause in its tightening cycle. Our Head of Equity Strategy, Mathieu Racheter, shares his insights into the European and US equity market dynamics. And Tim Gagie, Head of FX & PM Solutions Geneva, provides an update on currencies and precious metals.00:00 Introduction by Helen Freer (Investment Writing)00:37 Markets wrap-up by Jonti Warris (Investment Writing)06:08 Equities: Eurozone vs US by Mathieu Racheter (Head of Equity Strategy)08:30 Currencies and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)13:33 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.