Moving Markets

Protests are spreading across China over harsh anti-virus curbs. In the UK, meanwhile, Prime Minister Rishi Sunak is facing pushback from his ruling Conservatives as they try to force the government to drop a ban on new onshore wind farms. Mensur Pocinci, Head of Technical Analysis, gives an update on the latest market moves, and Mark Mathews, Head of Research APAC, supplies more insights on the current situation in China.00:09 Introduction and markets wrap-up by Alexander Petersen (Investment Writing)03:03 Technical analysis update by Mensur Pocinci (Head of Technical Analysis Research)04:40 China by Mark Matthews (Head of Research APAC)11:05 Closing remarks by Alexander Petersen (Investment Writing)

The US equity markets were closed yesterday for Thanksgiving and are only open in the morning session today. Yet, people across the US will be shopping around the clock as it is Black Friday, the unofficial start of the holiday shopping season, while parts of Beijing are back in lockdown again due to the country’s Covid policy. Tim Gagie, Head of FX&PM Solutions Geneva, talks about the recent weakness in the USD. Carsten Menke, Head of Next Generation, takes a closer look at the continuing fallout from the crypto exchange FTX, but also highlights some positive trends.  00:09 Introduction and markets wrap-up by Mike Rauber (Investment Writing)03:38 FX update by Timothy Gagie (Head of FX&PM Solutions Geneva)06:41 Digital asset update by Carsten Menke (Head of Next Generation Research)09:31 Closing remarks by Mike Rauber (Investment Writing)

The US Federal Reserve signalled that it is leaning towards downshifting to a 50 basis points rate hike in December. In Asia, meanwhile, the Chinese Communist Party indicated further monetary stimulus, including a likely cut in the reserve requirement ratio for banks. Carsten Menke, Head of Next Generation Research, gives an update copper and metals, and Nicolas Jordan from CIO Strategy & Investment Analysis provides insights on the latest Investment Committee meeting.  00:09 Introduction and markets wrap-up by Alexander Petersen (Investment Writing)02:52 Copper & metals update by Carsten Menke (Head of Next Generation Research)05:59 IC update by Nicolas Jordan (CIO Strategy & Investment Analysis)07:52 Closing remarks by Alexander Petersen (Investment Writing)

Credit Suisse is cutting at least a third of its investment banking workforce in China as part of the bank’s cost-cutting plans. And the ongoing crypto crisis shows no signs of abating, with fears of contagion continuing to spread throughout the crypto world. Dario Messi, Investment Research, talks about US fixed income and his view on the rising risk of a recession. 00:09 Introduction and markets wrap-up by Jonti Warris (Investment Writing)03:20 US fixed income - Positioning for rising recession risk by Dario Messi (Investment Research Analyst)06:51 Closing remarks by Jonti Warris (Investment Writing)

The sentiment is fragile in Asia after China’s daily virus infections climbed to near the highest on record. It is said local authorities may possibly re-introduce strict measures, despite the new directives from authorities over a week ago, that marked an easing in the official zero-Covid playbook. Guy Bettschart, Equity Analyst, shares insights on our longstanding Overweight call on Healthcare equities. 00:09 Introduction and markets wrap-up by Olivier Maris (Investment Writing)03:00 Healthcare equities by Guy Bettschart (Equities Research)05:26 Closing remarks by Olivier Maris (Investment Writing)

Markets are mostly down today after China reported its first Covid deaths in almost six months, sparking fears of new lockdown measures in the country. This week is traditionally quiet due to the Thanksgiving holiday in the US, but there will be a focus on the FOMC minutes which are released on Wednesday as these may offer some new insights. Mensur Pocinci, Head of Technical Analysis, talks about what the charts are telling us.00:09 Introduction and markets wrap-up by Lucija Caculovic (Investment Writing)02:56 Technical analysis update by Mensur Pocinci (Head of Technical Analysis Research)03:58 Closing remarks by Lucija Caculovic (Investment Writing)

The St. Louis Fed President, James Bullard, suggested in a speech yesterday that policymakers should raise interest rates to at least 5% to 5.25% - this likely contributed to all the major markets in the US ending the day in the red yesterday, and all except the DAX following suit in Europe. In the UK, Jeremy Hunt announced the Autumn Statement, and in Japan, core inflation for October reached a 40-year high. Carsten Menke, Head of Next Generation Research, provides an update on digital assets and Tim Gagie, Head of FX & PM Solutions in Geneva, updates us on currencies. 00:09 Introduction and markets wrap-up by Helen Freer (Investment Writing)02:53 Digital assets update by Carsten Menke (Head of Next Generation Research)05:54 FX update by Tim Gagie (Head FX&PM Solutions Geneva)07:50 Closing remarks by Helen Freer (Investment Writing)

Both the US and Asian stock markets were upended by micro news overnight. In the US, it was Target that rattled investors by announcing that sales were down as shoppers grappled with higher inflation heading into a peak shopping season. US retail sales data however painted a different picture coming in 0.3% higher than expected in October. In Asia, an announcement from Tencent that it will divest USD 20 billion in Meituan shares caused markets to sell off. Norbert Rücker, Head of Macro & Next Generation Research, updates us on his expectations for the energy markets, whilst Nicolas Jordan updates us on the CIO view. 00:09 Introduction and markets wrap-up by Bernadette Anderko (Investment Writing)02:52 Energy markets by Norbert Rücker (Macro & Next Generation Research)05:55 IC update by Nicolas Jordan (CIO Strategy & Investment Analysis)09:07 Closing remarks by Bernadette Anderko (Investment Writing) 

A softer than expected increase in US producer price prices for October gave US equities another boost. However, geopolitical concerns are weighing on sentiment this morning after a missile is reported to have struck land in Poland near the Ukraine border. Dario Messi from Fixed Income Research speaks about the broadening opportunity set in fixed income following the rise in real bond yields this year.00:09 Introduction and markets wrap by Mike Rauber (Investment Writing)04:00 New fixed-income strategy calls by Dario Messi (Fixed Income Research)07:45 Closing remarks by Mike Rauber (Investment Writing)

At the G-20 summit in Bali, President Joe Biden and President Xi Jinping met face-to-face for the first time since the start of the Covid-19 pandemic. The meeting ran about three hours, and showed signs of reduced US-China tensions. David Meier, Economics Research, gives an update on the EUR/USD currency pair, and why we believe the dollar has likely peaked. 00:09 Introduction and markets wrap-up by Olivier Maris (Investment Writing)03:20 FX update (EURUSD) by David Alexander Meier (Macro & Next Generation Research)06:14 Closing remarks by Olivier Maris (Investment Writing)