Moving Markets

Liz Truss has won the conservative party leadership election and will become the next Prime Minister in the UK. Norbert Ruecker, Head of Macro and Next Generation Research, gives an update on the energy market. David Meier, Senior Economist, explains what the newly appointed British prime minister means for the country’s politics and the British pound.00:08 Introduction and markets wrap-up by Olivier Maris (Investment Writing)02:40 Energy update by Norbert Ruecker (Head of Macro and Next Generation Research)05:03 UK politics and GBP by David Alexander Meier (Senior Economist)08:42 Closing remarks by Olivier Maris (Investment Writing)

US market action started positive on Friday following the release of a better-than-expected US payroll report. However, concerns about interest rates being higher for longer and the news that Gazprom would indefinitely halt its key gas pipeline to Europe led to a sharp reversal in US equities. European equity markets are sharply lower this Monday morning on the energy developments. Markus Wachter, Technical Analysis, gave an update on US equity markets and the USD from a technical perspective. 00:08 Introduction and markets wrap-up by Mike Rauber (Investment Writing)04:30 Technical update by Markus Wachter (Technical Analysis)06:47 Closing remarks by Mike Rauber (Investment Writing)

The global bond sell-off means they have now fallen into their first bear market for a generation. Today investors await the US jobs report for August. Tim Gagie, Head of FX & PM Solutions in Geneva, shares his views on currencies, and Sipho Arntzen from Next Generation Research provides an update on digital assets.00:08 Introduction and markets wrap-up by Helen Freer (Investment Writing)03:53 FX Update by Timothy Gagie (Head of FX&PM Solutions)07:11 Digital Assets by Sipho Arntzen (Next Generation Research)09:19 Closing remarks by Helen Freer (Investment Writing)

Global bonds extend their sell-off, sending yields on two-year US Treasuries to a 15-year high. Norbert Ruecker, Head of Macro and Next Generation Research, gives an update on the Oil & Gas sector, and Nicolas Jordan, CIO Office, provides details on the latest discussions with regard to the bank’s investment strategy.00:08 Introduction and markets wrap-up by Olivier Maris (Investment Writing)03:01 Oil & gas update by Norbert Rücker (Head of Macro & Next Generation Research)06:28 Investment Committee update by Nicolas Jordan (CIO Strategy & Investment Analysis)08:52 Closing remarks by Olivier Maris (Investment Writing)

Global financial markets are in defensive mode, after US equities were lower for a third day in a row yesterday, and commodities experienced their biggest single drop yesterday since early July. On the bright side, US gasoline prices are now below levels the day the war in Ukraine started, giving a boost to consumer confidence. Economic data releases out of China and Japan came in better than expected. David Meier, Macro & Next Generation Research, explains how the EUR is caught between the ECB on a tightening course and high energy prices. Mathieu Racheter, Head of Equity Strategy, provides his outlook in the year-end given the market turmoil.00:08 Introduction and markets wrap-up by Mike Rauber (Investment Writing)04:17 Currencies in the wake of Jackson Hole by Dave Meier (Macro & Next Generation Research)07:36 Year-end outlook: subsector overview by Mathieu Racheter (Head of Equity Strategy)10:02 Closing remarks by Mike Rauber (Investment Writing)

Stock markets are taking a small breather this morning, reassessing the situation after it took Federal Reserve Chair Jerome Powell eight minutes to dictate the new normal with regard to the central banks’ inflation fighting plans. US Treasury yields are slightly down but the US yield curve is still heavily inverted. Markus Allenspach, Julius Baer’s Head of Fixed Income Research, explains where he see yields heading and whether it is time to ramp up exposure now.00:09 Introduction and markets wrap-up by Roman Canziani (Head of Investment Writing)04:05 Jackson Hole and its aftermath by Markus Allenspach (Head of Fixed Income Research)09:03 Closing remarks by Roman Canziani (Head of Investment Writing)

Federal Reserve Chairman Jerome Powell spoke on Friday, with the markets reacting hawkish to his comments. In Europe, natural gas prices posted the biggest weekly gain in two months surging to fresh highs. Markus Wachter, from Technical Analysis, gives us a technical update.00:09 Introduction and markets wrap-up by Alexander Petersen (Investment Writing)02:52 Technical update by Markus Wachter (Technical Analysis)05:36 Closing remarks by Alexander Petersen (Investment Writing)

Global financial markets are awaiting today’s speech by Jerome Powell, while power prices in Europe continue to rise. Tim Gagie, Head of FX  & Precious Metals Solutions Geneva, looks at the major currency moves this week. Sipho Arntzen, Next Generation Research, shares his views on Ethereum and the upcoming ‘Merge’00:09 Introduction and markets wrap-up by Mike Rauber (Investment Writing)04:16 FX update by Tim Gagie (Head of FX&PM Solutions Geneva)06:57 Digital assets by Sipho Arntzen (Next Generation Research)10:48 Closing remarks by Mike Rauber (Investment Writing)

China is stepping up stimulus spending with a further 1 trillion yuan. Federal Reserve Chair Jerome Powell is due to speak on Friday, with the market anticipating a more hawkish lean to his comments. Carsten Menke, our Head of Next Generation Research, shares his views on industrial metals and Nicolas Jordan from the CIO talks about what it means as markets are waiting for the next rate hike.00:09 Introduction and markets wrap by Alexander Petersen (Investment Writing)02:50 Industrial metals by Carsten Menke (Head of Next Generation Research)05:40 IC Meeting Update by Nicolas Jordan (CIO Strategy & Investment Analysis)09:29 Closing remarks by Alexander Petersen (Investment Writing)

With investors waiting for more clarity from the Federal Reserve at the Jackson Hole Symposium and after some weak economic data, equities across the US and Europe largely retreated yesterday. The Euro has dropped more than 12% versus the US dollar since the beginning of the year and is now below parity. Dario Messi, Fixed Income Strategist, also shares his thoughts on Jackson Hole.00:09 Introduction and markets wrap by Helen Freer (Investment Writing)03:59 Jackson Hole tremors by Dario Messi (Fixed Income Research)07:44 Closing remarks by Helen Freer (Investment Writing)