Moving Markets

Tech stocks are under pressure after Oracle missed on earnings and gave a rather gloomy outlook and Apple's 'Wonderlust' event failed (so far) to inspire investors' imagination. With US inflation figures due today and the European Central Bank's interest rate decision tomorrow, Dario Messi, Fixed Income Research, explains why he remains positive that yields are peaking.00:00 Introduction by Bernadette Anderko (Investment Writing)00:54 Markets wrap-up by Roman Canziani (Head of Investment Writing)07:08 Bond market / Research Calls update by Dario Messi (Fixed Income Research)11:58 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. 

Stocks around the world are being boosted not only by expectations that the Fed will pause its rate hike cycle next week, but also by investors buying into technology stocks after recent weakness and on news from companies like Tesla and Apple. In Asia, sentiment in the property sector improved after a Chinese property developer in distress reached an agreement to extend the repayment on six of its bonds. Hannah Wise, Head of Investment Communication, joins us today to provide a few details on our next webcast, where we will revisit our Market Outlook. The webcast takes place tomorrow, Wednesday 13th September, at 10am CEST. You can register here: http://ow.ly/rslb104TSK1 00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Lucija Caculovic (Investment Writing)05:20 Market Outlook Update webcast details by Hannah Wise (Head of Investment Communication)08:07 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. 

Investors breathed a small sigh of relief on Friday as European and US equity markets halted their losing streak, closing the day, if not the week, marginally higher. Recent economic data in the US has reignited rate hike fears. This Thursday we will find out what the ECB will do. Meanwhile, Japan’s central bank governor boosted the yen and government bond yields as he signalled that an end to negative interest rates might be on the cards. Markus Wachter tells us why technicals are pointing to a year-end stock rally.00:00 Introduction by Helen Freer (Investment Writing)00:25 Markets wrap-up by Bernadette Anderko (Investment Writing)06:17 Technical Analysis update by Markus Wachter (Technical Analysis Research)09:02 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. 

Yes, Apple Inc. was the spanner in the equity markets’ works yesterday. In all fairness, it was actually the Chinese government turning the screw on Apple, as it sought to broaden its ban on foreign technology further. As Apple‘s share price dropped for the second day in a row, the impact was felt most in the tech sector and saw the Nasdaq composite fall for a fourth consecutive session yesterday, closing down 0.89%. Data released on US jobs and labour costs also upset markets and has provided some ammunition for the Fed to keep monetary policy tight for longer. Meanwhile the US dollar maintained its strength. Thomas Caflisch, Head of FX & PM Solutions, sums it up nicely today: “The dollar always trades at the level which suits the US best."00:00 Introduction by Helen Freer (Investment Writing)00:20 Markets wrap-up by Bernadette Anderko (Investment Writing)05:50 FX and metals update by Thomas Caflisch (Head of FX & PM Solutions) 08:39 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. 

Good news on the US economy was bad news for US equities yesterday as increased interest rate expectations weighed on stocks. An expanded ban on using iPhones in China also weighed on market sentiment, and this is also spilling over to Asian markets that are a sea of red this Thursday. European luxury stocks were lower yesterday as Richemont’s chairman warned of the impact of high inflation on local demand in Europe. Norbert Rücker, Head of Macro & Next Generation Research, notes that brent oil at USD 90 is detached from fundamentals even as sentiment on the black gold has improved.00:00 Introduction by Helen Freer (Investment Writing)00:37 Markets wrap-up by Mike Rauber (Investment Writing)06:07 Oil market by Norbert Rücker (Head of Macro & Next Generation Research) 10:39 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. 

After Saudi Arabia and Russia both pledged to extend their supply cuts until the end of the year, oil has rallied, pushing yields higher and interrupting the rally in equities. Meanwhile, Eurozone economic data continues to come in below expectations. Dario Messi, Fixed Income Research, explains what this means for the European Central Bank's interest rate decision next week.00:00 Introduction by Bernadette Anderko (Investment Writing)00:45 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:19 Next week’s ECB meeting by Dario Messi (Fixed Income Research)11:02 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. 

As sluggish demand continues to plague the Chinese economy, investor sentiment takes a renewed hit on more disappointing data out of China. Today’s Caixin PMI data shows that China's services activity in August expanded at the slowest pace in eight months, with stimulus efforts so far unable to kickstart consumption. Manuel Villegas, Next Generation Research, provides us with an update on the latest from the world of digital assets.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)05:46 Digital assets update by Manuel Villegas (Next Generation Research)09:05 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. 

After US labour market data drove up stock prices on Friday, today it is China and its government's measures intended to prop up its ailing economy that are driving market sentiment. In commodities, oil prices are trading at levels last seen in November on fears over supply cuts by the OPEC+ group and strong economic data from China and the US pointing to strong demand for oil. Bitcoin, meanwhile, is struggling after the US SEC said it was delaying decisions on Bitcoin ETFs for another 45 days. US markets are closed today for the Labor Day holiday. Mensur Pocinci, Head of Technical Analysis, joins today’s show and talks about the US dollar, bond yields and investing in September.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Lucija Caculovic (Investment Writing)05:32 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis 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.

The US employment report will take centre stage today and it could well impact the US Federal Reserve’s future interest rate decisions. In China, authorities are continuing with their strategy of announcing not one big-bang stimulus measure, but rather many small measures, to help the economy. And the US Securities and Exchange Commission has again delayed the approval of spot Bitcoin ETFs – this would be a big deal for the industry as it would allow investors to own Bitcoin like any other security. Tim Gagie, Head of FX & PM Solutions Geneva, notes that he expects the USD to soften a bit more from here.00:00 Introduction by Helen Freer (Investment Writing)00:20 Markets wrap-up by Mike Rauber (Investment Writing)05:55 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)10:13 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. 

Lower-than-expected Q2 US GDP data yesterday added to investors’ hopes that the Fed might take a breather in its hiking cycle. Stock markets might have rallied in response but they are still set to end August lower. China’s official manufacturing purchasing managers’ index data came out below the magic 50 mark, indicating the economy is still contracting, but some Chinese building and AI companies were given a boost by positive sector news. Meanwhile, UBS announced record-breaking Q2 results. Our Head of Next Generation Research, Carsten Menke, explains that something does glisten more than gold (spoiler alert: it’s US Treasuries) and Nicolas Jordan from CIO Strategy & Investment Analysis joins us to share what our Investment Committee makes of the ‘unbelievable strength of the US economy’.00:00 Introduction by Helen Freer (Investment Writing)00:35 Markets wrap-up by Bernadette Anderko (Investment Writing)07:36 Gold update by Carsten Menke (Head of Next Generation Research)11:41 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)15:19 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.