Market Maker

An incredibly busy week, from Russia resuming critical gas flows to Europe, to one of the biggest ever tech IPO's on the London market being put on hold due to the collapse of the Boris Johnson government, there's never a dull moment in markets!In this episode, we start with deconstructing what exactly happened at the European Central Bank meeting, where interest rates were hiked 50bps, marking the first move higher in 11 years and the biggest since the year 2000. What was said? what on earth is the TPI? what risks are there following the resignation of the Italian PM Mario Draghi? and will any of this even work?!We then pivot to US earnings season and zone in on the latest reports from Tesla and Netflix. Although Tesla shares have risen since the release of Q2 numbers what's actually going on under the bonnet and is Elon Musk covering up what otherwise are some troubling signs? and we explain why Netflix losing nearly 1mln subscribers in just three months is actually a good thing!Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

It's been quite an incredible week in global markets. The Euro hit parity against the US Dollar for the first time in 20 years, the Italian government is about to implode, the Tory leadership contest rumbles on, and the big US banks kick off the latest earnings season. However, the show stopper was undoubtedly the latest US CPI reading which came in at a red hot 9.1%, the largest gain since the end of 1981.Piers and I discuss how the market reacted and more importantly how the US central bank may react. On the same day, the Bank of Canada delivered a surprise 100bps rate hike, not only the largest rate hike by them in 24 years but the first G7 country to make such an aggressive hike in this economic cycle. Has Canada now laid the groundwork for a similar-sized move from Jay Powell and the gang later this month?We then switch attention to the visible feud between Elon Musk and Twitter, the latter who filed a forceful complaint against Tesla boss on Tuesday, alleging he had treated his $44bn offer for the social media company as an “elaborate joke”.Who wins this battle? has there been historical precedence? Has Elon gone one step too far this time?!Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

In this episode, I talk to the Head of Trading Piers Curran about the resignation of UK Prime Minister Boris Johnson. We look at the process behind how the Conservative Party will now elect a new leader, the subsequent timeline, and importantly whether this shift has implications for financial markets.Who is Ben Wallace? Will Rishi win? does this even matter in the context of the economic crisis unfolding under the pressure of surging inflation? We give our point of view! This leads us into looking at the EUR currency, which this week hit a fresh 20-year low and edges ever closer to parity against the US Dollar. What is creating this renewed downside pressure and why Europe's biggest economy, Germany, is heading into its worst energy crisis since the oil price shock of 1973.Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

MM071: US stocks suffer sharpest first-half drop for more than 50 years Yesterday saw H1 2022 draw to a conclusion with the S&P 500 closing down 20.6% year-to-date making the worst first six months of any year since 1970.We discuss why stocks have had such a bad year and delve deeper into the diverging performances of the different equity sectors. For example, exploring why the energy sector is up over 30% whilst the Consumer Discretionary sector is down over 30%. We discuss how the bounce in stocks last week was nothing to do with fundamentals and was actually driven by quarter end rebalancing.We also discuss equity and debt capital markets and how the IPO space has collapsed in 2022 with funds raised in US IPOs at its lowest since 1999! Finally, we discuss private market capital raising and how the FinTech world is being forced to raise capital at much lower valuations than previous rounds and how this is impacting investor appetite and sentiment.Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

Yesterday the US Federal Reserve hiked interest rates by 0.75% in another hawkish pivot in their on-going quest to tame inflation. They also said they intend to raise interest rates a further 1.75% across their remaining four meetings in 2022We discuss the market fallout in the aftermath of this Fed announcement as stock markets initially bounced as Powell said he did not expect adjustments of 0.75% to become common.However, this morning the risk-off continues:The S&P hits bear market territory down 23% from its November 2021 high. The Nasdaq is now down 33%. The US Dollar continues to rally testing the 1.04 handle vs the Euro, GBPUSD hits a 20 month low and USDJPY is trading at a 20 year high.We finish with a discussion about the recent cryptocurrency capitulation and discuss the best mindsets around how to deal with trades that are losing you money.Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

We've had Apple's Developer event this week and while people are most obsessed with augmented reality technology we focus on the less sexy software side of the business! Namely, Apple CarPlay and Apple's move into finance by offering loans directly to consumers for its new buy now, pay later product.Will Apple's refresh of CarPlay open up a new substantial revenue stream for the tech giant or is this just tech enthusiasts getting ahead of themselves?Billionaire investor Ray Dalio is also back in the spotlight betting on a sell-off in corporate bonds this year underscoring the bearish view of Bridgewater and their assessment of what rapidly rising rates will do to the global economy.We finish with Christine Lagarde, the President of the European Central Bank who has paved the way for a series of rate rises, starting with a quarter-percentage point move in July and raising the prospect of a bigger half-point shift in September.Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

This week Bank of America put out a note suggesting that investors should hedge for an “existential” sterling crisis as the British currency faces struggles usually seen in emerging markets.What supports this pessimistic view and is it a credible argument or simply a sensational conclusion to generate broad appeal in the media?We then shift our focus to crude oil where prices have briefly touched $120 a barrel this week as the conflict in Ukraine intensifies and the EU has agreed to pursue a partial ban on Russian oil. Is this latest round of sanctions a big deal? and find out why the art of political deflection is well and truly underway!Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

In this episode, Piers and I take a look at comments from Jamie Dimon and Brian Moynihan, where the CEO's of J.P. Morgan and Bank of America softened their tone on a recession and how it may be different from episodes experienced in the past.We also discuss how the UK Chancellor is engineering his windfall tax on oil and gas companies, the change in tactics from the Chinese government in the communication of their economic outlook, and why Saudi Arabia still wants to be mates with Russia despite pressure from the West.Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

The Dow dropped 1,100 points on Wednesday, marking its biggest decline since 2020 as the sell-off this year on Wall Street intensifies. Is this the beginning of the end or are we just getting started?In this episode, Piers and I look at some troubling signs from US retailers Target and Walmart this week and what their performance tells us about the macro environment.Meanwhile, one of the biggest headlines for single stocks was that the infamous investor Michael Burry of the 'Big Short' now has Apple in the crosshairs. Find out how his hedge fund is executing his bearish view in what he has described as the "greatest speculative bubble of all time in all things". Finally, we talk ESG. A relatively new investment class in the asset management world, we look at where it sits in the investment spectrum and why Elon Musk thinks it's a scam!Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.

The price of bitcoin briefly fell below $26,000 this week, hitting its lowest level in 16 months. The move came after a collapse in Luna as TerraUSD struggled to regain its Dollar peg. Find out what purpose these 'algorithmic stablecoins' serve, what caused them to break down, and what it means for institutional adoption going forward.We also catch up on what has been another brutal week across the asset class spectrum with YTD losses in the Nasdaq 100 now over 27%, and find out why Italian Prime Minister Mario Draghi wants to set up his own cartel!Daily newsletterhttps://amplifyme.com/market-makerTake a Finance Accelerator simulationhttps://amplifyme.com/course/finance-acceleratorConnect with Anthonyhttps://www.linkedin.com/in/anthonycheung10/Connect with Piershttps://www.linkedin.com/in/pierscurran/ Hosted on Acast. See acast.com/privacy for more information.