Markets are eagerly anticipating a rate cut from the US Federal Reserve this week. We only have to wait until Wednesday to find out whether they opt for 25 or 50 basis points. Ahead of this, US stock markets rallied. European markets also advanced after the ECB cut rates on Thursday. Asian markets are a little more mixed after disappointing Chinese data and the upcoming Bank of Japan meeting on Friday. Markus Wachter joins the show today to provide the technical viewpoint on, amongst other things, precious metals.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Bernadette Anderko (Investment Writing)06:06 Technical Analysis update: Markus Wachter (Technical Analysis Research)09:51 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 wherever you get your podcasts.

Markets are abuzz with speculation that the Federal Reserve may deliver a larger-than-expected 50 basis-point rate cut next week. As a result, yields have tumbled, and gold prices have surged to new record highs. Meanwhile, equity markets continue their winning streak, with the S&P 500 index closing higher for the fourth consecutive day. Tim Gagie, Head of FX/PM PB Sales in Geneva, also joins the podcast today and he breaks down the latest developments in currencies and metals markets and shares his insights on the current trading landscape.00:00 Introduction by Helen Freer (Investment Writing)00:25 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:00 Currencies and metals: Tim Gagie (Head of FX & PM Solutions Geneva)10:29 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 wherever you get your podcasts.

US inflation unexpectedly rose in August, with core inflation up 0.3% month-on-month and 3.2% year-on-year. The data suggests that the Fed will cut rates next week by 25bps rather than 50bps. Markets initially reacted negatively, but US equities later rallied strongly, led by tech stocks. OpenAI is in the news for a new round of funding, valuing the company at USD 150bn. The ECB meets today and is expected to cut rates due to weak demand and low wage growth. Commerzbank rose almost 17% yesterday after UniCredit confirmed reports that it had taken a 9% stake in the company, fuelling takeover speculation. Carsten Menke, Head of Next Generation Research, suggests that gold investors need to be patient before this year's record moves are repeated.00:00 Introduction by Helen Freer (Investment Writing) 00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:47 Gold update: Carsten Menke (Head of Next Generation Research)11:35 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 wherever you get your podcasts.

Tech stocks led the charge overnight, while financials felt the pinch, as yields fell, and the S&P 500 eked out a gain. But despite the market's mixed signals, all eyes were on the presidential debate between Kamala Harris and Donald Trump - and some believe Harris may have gained ground. Meanwhile, with a packed schedule of central bank meetings on the horizon, we're joined by Eirini Tsekeridou from Fixed Income Research to share her insights on what to expect from policymakers in the critical weeks ahead.00:00 Introduction by Bernadette Anderko (Investment Writing)00:35 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:33 Central bank expectations/implications: Eirini Tsekeridou (Fixed Income Research)11:21 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 wherever you get your podcasts.

Global stocks rebounded yesterday following the worst week for the S&P 500 since March 2023, as investors await US inflation data for clues on the size of the US Federal Reserve’s coming interest-rate cut. Meanwhile, weakness in Chinese equities is intensifying as a benchmark of onshore Chinese stocks hovers near its lowest close since January 2019. Manuel Villegas, Next Generation Research, provides an update on the latest price moves in digital assets and how US politics and macroeconomics are impacting Bitcoin.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up by Jonti Warris (Investment Writing)07:37 Digital assets update: Manuel Villegas (Next Generation Research)10:58 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 wherever you get your podcasts.

The US employment report for August showed a slower than expected increase in jobs, but a fall in the unemployment rate to 4.2%. Markets reacted negatively, with the S&P 500 having its worst week since March 2023, closing at 5408 points. Other asset classes such as Bitcoin and oil also fell sharply. Key events this week include the release of Apple's iPhone 16 on Monday, the Harris-Trump presidential debate on Tuesday and key economic data releases, including US consumer price inflation on Wednesday and an expected ECB rate cut on Thursday. Mensur Pocinci, Head of Technical Analysis, notes that 5350 is a key support level for the S&P 500.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:58 Technical Analysis update: Mensur Pocinci (Head of Technical Analysis Research)11:05 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 wherever you get your podcasts.

Global equity markets struggled to find interest in the last 24 hours as traders and investors alike digested more US and European data whilst waiting with baited breath for today’s US non-farm payrolls data. The only area that saw appetite was the tech sector, in particular the Magnificent Seven. Richard Tang, Head of Research Hong Kong, provides an update on the latest developments in China, as well as reiterating why we see good opportunities in Japanese equities.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Bernadette Anderko (Investment Writing)05:35 Asia update by Richard Tang (Head of Research Hong Kong)15:32 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 are grappling with a flood of data this week. Yesterday’s releases from the US revealed a two-year high in the trade deficit, a slowdown in the labour market and a cautious outlook from the Fed’s Beige Book. However, there was some respite as US factory orders rebounded after two lacklustre months. As equities continue to struggle for traction in September, a key segment of the US Treasury yield curve brieflyinverted yesterday. In this episode, we’re joined by Norbert Rücker, Head of Economics & Next Generation Research, who provides an update on the oil market. In addition, Ronny Kaufmann from our CIO Strategy & Investment Analysis team provides insights into our investment strategy and discusses the recent investment boom in the technology sector.00:00 Introduction by Helen Freer (Investment Writing)00:34 Markets wrap-up by Lucija Caculovic (Investment Writing)07:30 Oil update by Norbert Rücker (Head of Economics & Next Generation Research)11:15 Update from the CIO Office by Ronny Kaufmann (CIO Strategy & Investment Analysis)14:40 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. 

September gets off to a rocky start for stocks, with semiconductors plummeting. The S&P 500 index has suffered its worst September opening in years, tumbling over 2% amid renewed worries about overstretched valuations in AI-related stocks and a disappointing manufacturing report. Meanwhile, oil prices have wiped out their entire year-to-date gain, while the Japanese yen surges. In this episode, we're joined by Eirini Tsekeridou, Fixed Income Research expert, who shares her bullish case for Brazilian stocks and bonds.00:00 Introduction by Bernadette Anderko (Investment Writing)00:38 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:41 Brazilian bond market update by Eirini Tsekeridou (Fixed Income Research)09:58 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. 

European markets were flat after reaching a record high last week, held back by weak economic demand from China. Rolls Royce fell sharply on concerns over a faulty engine part in the Airbus 350. Swiss PMIs surprise to the upside, while manufacturing activity in France and Germany remains sluggish. Volkswagen plans its first plant closure in Germany since it was founded 87 years ago. In Asia, Japan's Topix index rises for a sixth consecutive session, led by financials on higher bond yields. Manuel Villegas, Next Generation Research, notes that the next few weeks will shape the outlook for crypto assets for the rest of the year.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:46 Digital assets: Manuel Villegas (Next Generation Research)10:01 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 wherever you get your podcasts.

After US Treasuries and the S&P 500 index advanced for a fourth consecutive month in August, investors brace for September, a typically challenging month for markets, ahead of crucial US jobs data due on Friday. A significant shift to the far right in German state elections yesterday sent shockwaves through the European political landscape. Mensur Pocinci, Head of Technical Analysis Research, offers an update on the markets from a technical perspective and shares his outlook for the US dollar.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)07:21 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)09:49 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. 

Nvidia did not meet lofty earnings expectations and its stock fell 6%, while revised Q2 US GDP figures beat expectations at 3%, meaning more stocks rose than fell on the S&P 500. US Treasury yields rose on the better economic data, although Treasuries are on track for a fourth month of gains. In Europe, inflation fell and Germany's DAX rose to near all-time highs. Asian equities are higher, led by China on reports ofincreased support for the ailing housing market, while Tokyo inflation data supports the case for further interest rate increases there. Today's key data will be the core PCE inflation figures - the US Federal Reserve's key inflation indicator. Tim Gagie, Head of FX & PM Solutions Geneva, discusses whether we have seen the end of the dollar's weakness.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Mike Rauber (Investment Writing)08:48 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)12:58 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. 

Markets braced themselves for Nvidia’s Q2 results yesterday with the top three indices all closing lower on the day. Nvidia then delivered results that beat expectations, but apparently not by enough and the stock fell more than 8% in after-hours trading. The impact was felt globally by the rest of the tech universe. In today’s special episode we also hear from our Group CIO, Yves Bonzon, who talks about his views on markets after elevated volatility this month, the Fed, where the question is no longer if they will cut interest rates, but by how much, and gold, which continues to rise to new all-time highs. Norbert Rucker also provides a timely update on the state of the energy markets.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Bernadette Anderko (Investment Writing)05:09 Market update, the Fed and gold (pre-recorded): Yves Bonzon (Group CIO)13:58 Energy markets – update on oil and gas: Norbert Rücker (Head of Economics & Next Generation Research)18:36 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 wherever you get your podcasts.

Artificial intelligence leader Nvidia reports earnings today and the market is bracing for impact. Meanwhile, US consumer confidence has taken a step up, but still lags behind pre-pandemic levels. In China, another set of disappointing earnings results has sparked concerns over the country’s slowing economy. In today’s episode, we're joined by Dario Messi, Head of Fixed Income Research, for an update on monetary policy and bonds, and Mathieu Racheter, Head of Equity Strategy, who provides an update on the healthcare sector and obesity drugs.00:00 Introduction by Bernadette Anderko (Investment Writing)00:41 Markets wrap-up by Lucija Caculovic (Investment Writing)06:16 Fixed income update: Dario Messi (Head of Fixed Income Research)10:45 Healthcare Stocks: Mathieu Racheter (Head of Equity Strategy)14:26 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 wherever you get your podcasts.

US equity benchmarks struggled in trading yesterday with the S&P 500 and Nasdaq indices posting losses amid a rotation out of big tech and into small caps. However, the Dow Jones Industrial Average and the S&P 500 Equal Weight indices both hit record highs after US Fed Chair Powell’s dovish comments on Friday. David Kohl, Chief Economist, shares his key takeaways from last week’s Jackson Hole summit and outlines his thoughts on the future paths of Fed and ECB policy.00:00 Introduction by Helen Freer (Investment Writing)00:41 Markets wrap-up by Jonti Warris (Investment Writing)07:03 Jackson Hole/Fed outlook: David Kohl (Chief Economist)13:19 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 wherever you get your podcasts.

Risk assets ended the week on a strong note after Jerome Powell made it almost certain that interest rates will be cut next month. This led to a further fall in the USD and gold closing above USD 2500 an ounce for the second week in a row. Oil prices rose on rising tensions in the Middle East, but only a little as investors seem to have become immune to short-term military exchanges in the region. Nvidia is due to report quarterly results after the US close on Wednesday - it could well shape investor sentiment given its bellwether status. Mensur Pocinci, Head of Technical Analysis Research, notes that the technical picture looks good, with the MSCI World, S&P 500 Equal Weight index and US high-yield bonds all at all-time 00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:01 Technical Analysis by Mensur Pocinci (Head of Technical Analysis Research)10:15 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. 

Markets saw a decent pullback over the last 24 hours, with the S&P 500 recording its worst daily performance for over two weeks. Meanwhile, the 10-year Treasury yield moved back up to 3.85%. These moves reflected investors becoming more sceptical about the chances of rate cuts of 50bps this year, thanks to more positive data and comments from Fed officials yesterday. Tim Gagie, Head of FX & PM Solutions in Geneva, talks about why this should be positive for the US dollar and why he likes platinum.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jan Bopp (Investment Writing)05:53 Currencies and metals: Tim Gagie (Head of FX & PM Solutions Geneva)10:27 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 wherever you get your podcasts.

Stocks continue their upward march as markets gear up for the much-anticipated Jackson Hole Symposium, commencing today. Preliminary payroll revisions, coupled with the latest Federal Reserve meeting minutes, strongly indicate a potential rate cut in the US in September. This could also spell good news for gold as Carsten Menke, Head of Next Generation Research, explains in today’s podcast – and there are more reasons to be positive on the price of the yellow metal.00:00 Introduction by Helen Freer (Investment Writing)00:45 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:06 Gold: Carsten Menke (Head of Next Generation Research)09:59 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 wherever you get your podcasts.

Global equities have paused in their winning streak, posting losses ahead of revisions to US jobs data due today. Dario Messi, Head of Fixed Income Research, shares his thoughts into the future path of Fed policy. And Mathieu Racheter, Head of Equity Strategy, outlines his sector preferences when it comes to equities.00:00 Introduction by Bernadette Anderko (Investment Writing)00:41 Markets wrap-up by Jonti Warris (Investment Writing)06:31 Fixed income strategy update: Dario Messi (Head of Fixed Income Research)12:44 Equity strategy update: Mathieu Racheter (Head of Equity Strategy)16:00 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 wherever you get your podcasts.

European and US equities extended their rebound yesterday, starting the new trading week on a strong footing and maintaining the momentum built last week. Most Asian-Pacific markets followed suit, with Hong Kong and China being notable exceptions. Meanwhile, oil prices saw some relief following reports that Israel had accepted a proposal to resolve disputes hindering a Gaza ceasefire agreement. Joining today’s show is Manuel Villegas from Next Generation Research, who shares his expert insights on what’s happening in the crypto space.00:00 Introduction by Bernadette Anderko (Investment Writing)00:28 Markets wrap-up by Lucija Caculovic (Investment Writing)06:39 Digital assets update: Manuel Villegas (Next Generation Research)10:57 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 wherever you get your podcasts.

Equity markets rebounded strongly last week, driven by tame inflation data, stabilising macro data, and solid earnings. Quant funds are expected to rebuild their positions, and corporate America is buying the dip, with record orders for share buybacks. And Mensur Pocinci, Head of Technical Analysis, talks about why he thinks the recent bounce is an early start to the year-end rally.00:00 Introduction by Roman Canziani (Head of Investment Writing)00:28 Markets wrap-up by Jan Bopp (Investment Writing)07:03 Technical Analysis by Mensur Pocinci (Head of Technical Analysis)13:00 Closing remarks by Roman Canziani (Head of 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. 

Global equities surged, driven by US stocks, as strong retail numbers and encouraging jobless claims alleviated recession fears. US Treasury yields and the dollar also climbed. Meanwhile, gold rose on Middle East tensions and expectations of interest rate cuts. Retail giants Walmart (the world’s largest retailer) and Alibaba (China’s largest retailer) saw their shares jump, with Walmart boosting its sales guidance and Alibaba benefiting from broker upgrades despite mixed earnings. According to Mark Matthews, Head of Research Asia, major Asian markets look promising, including Japan (where a weaker yen should boost stocks), India (with its structural growth drivers), and China (too cheap to ignore).00:00 Introduction by Helen Freer (Investment Writing)00:34 Markets wrap-up by Mike Rauber (Investment Writing)07:21 Asia update: Mark Matthews (Head of Research Asia)15:17 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 wherever you get your podcasts.

This week's inflation data releases have been favourably received by financial markets. After the UK, the US also released inflation figures that indicate further progress towards disinflation, paving the way for potential interest rate cuts beginning in September. The extent of the first cut – whether it will be 0.25% or even 0.5% – will be determined by incoming data. Also on today’s show, Norbert Rücker, Head of Economics and Next Generation Research, offers his insights on oil prices and reassures listeners that Europe won't face a gas shortage, even if supplies from Eastern Europe dwindle.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:57 Update on oil and gas by Norbert Rücker (Head of Economics & Next Generation Research)12:45 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 had a good session despite disappointing sentiment data from Germany while US producer prices rose less than forecast, indicating continued disinflation. This has boosted hopes for a US Federal Reserve rate cut in September, sending yields lower and stocks higher. And Dario Messi, Head of Fixed Income Research, talks about the health of the bond market, why his team upgraded the US high yield segment and what the latest data means for the Fed’s policy path.00:00 Introduction by Jonti Warris (Investment Writing)00:27 Markets wrap-up by Jan Bopp (Investment Writing)06:48 Fixed income update: Dario Messi (Head of Fixed Income Research)11:41 Closing remarks by Jonti Warris (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Oil prices have rallied on reports that an Iranian retaliatory attack against Israel has grown even more likely and could be imminent. In the US, stocks closed yesterday’s session flat, maintaining the momentum from late last week as investors braced for key inflation data due this week. Manuel Villegas, Next Generation Research, provides us with the latest news from the world of digital assets including what’s driving the moves in Bitcoin and the role of Bitcoin miners.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)05:47 Digital assets update: Manuel Villegas (Next Generation 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 wherever you get your podcasts.

Global equity markets staged a remarkable recovery from the panic at the start of last week, while government bonds and gold acted as effective hedges during the market turmoil. This week, all eyes will be on the US economic reports and whether they will show that the US economy is indeed set for a soft landing and lower inflation. There will be a lot of attention on the JPY after its recent movements were felt inglobal markets. In the US elections, Kamala Harris is leading in three key states according to the latest polls, brightening the outlook for the Democrats. Mensur Pocinci, Head of Technical Analysis Research, notes that after last week's turmoil, investors are likely to be over-pricing short-term risks, which is traditionally a promising sign for equity markets.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)07:48 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)12:00 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. 

US stocks surged yesterday, with the S&P 500 climbing 2.3% in its strongest session since November 2022. The positive market sentiment was fuelled by a drop in US initial jobless claims to the lowest level since late May, which also led to an upward shift in the yield curve. In Asia, equities rose across the region on the back of encouraging Chinese consumer price data, which pointed to a potential rebound in domestic demand. Meanwhile, Bitcoin and oil prices have risen this week, while gold has fallen slightly. Joining us today is our Chief Economist, David Kohl, who will help us make sense of the past week’s volatile markets.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Lucija Caculovic (Investment Writing)06:28 Macro update: David Kohl (Chief Economist)18:08 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 wherever you get your podcasts.

Equity markets rallied after Bank of Japan Deputy Governor Uchida talked down the Japanese yen - but the rally faded into the US close as investors realised that more economic challenges may lie ahead. Nicolas Jordan, CIO Office, explains how our investment strategy is affected by the current bout of volatility across markets and asset classes.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Roman Canziani (Head of Investment Writing)07:53 Latest news from the CIO Office: Nicolas Jordan (CIO Strategy & Investment Analysis)11:57 Closing remarks by Helen Freer (Investment WritingWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

US stocks surged yesterday, recouping some of the losses from the massive sell-off, and the rally continued overnight with all major Asia-Pacific markets trading in the green. As investor confidence grows globally, demand for safe-haven assets such as Treasuries has decreased, leading to a decline in Treasury prices and a rise in yields. In today’s episode, we're joined by Mathieu Racheter, Head of Equity Strategy,who provides an update on the fundamental state of the stock markets, including insights into the ongoing earnings season; and Dario Messi, Head of Fixed Income Strategy, who delves into the repricing of the bond market and the expectations for Federal Reserve rate cuts.00:00 Introduction by Roman Canziani (Head of Investment Writing)00:38 Markets wrap-up by Lucija Caculovic (Investment Writing)07:07 Earnings season update by Mathieu Racheter (Head of Equity Strategy)12:15 Fixed income update by Dario Messi (Head of Fixed Income Research)16:24 Closing remarks by Roman Canziani (Head of 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 the global stock-market rout accelerated yesterday, with losses cascading across tech shares and Japanese equities crashing by the most in over a decade, Japanese stock indices have staged a turnaround and are leading gains in Asia today. In today’s special episode, Christian Gattiker, Head of Research, shares his insights into the latest equity market developments and how he see things going forward. Manuel Villegas, Next Generation Research, provides us with an update on digital assets and talks about the prospects of a Trump trade.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up by Jonti Warris (Investment Writing)04:40 Equity market developments: Christian Gattiker (Head of Equity Strategy)09:22 Digital assets update: Manuel Villegas (Next Generation Research)13:03 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 wherever you get your podcasts.

A weaker-than-expected US jobs report added to concerns that the Federal Reserve has been too slow to cut interest rates. Rate cut expectations increased strongly amid a slowing US job market pulling government bond yields lower, while global equities continue to sell off with the tech-heavy Nasdaq underperforming. The sell-off wiped out more than USD 2 trillion in value in just over three weeks as several megacaps entered bear-market territory. Mathieu Racheter, Head of Equity Strategy, guides us through the fundamentals and why he sees attractive entry opportunities in some areas of the market, while Mensur Pocinci, Head of Technical Analysis, discusses the implications of the latest sell-off from a technical perspective.00:00 Introduction by Helen Freer (Investment Writing)00:34 Markets wrap-up by Jan Bopp (Investment Writing)06:51 Latest equity market developments: Mathieu Racheter (Head of Equity Strategy)10:22 Technical Analysis update: Mensur Pocinci (Head of Technical Analysis Research)12:52 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 wherever you get your podcasts.

The past 24 hours have seen an increasingly precarious backdrop for risk markets. A perfect storm of weak US data and disappointing earnings outlooks or results from industry behemoths such as Amazon, Apple and Intel triggered a global sell-off. Safe havens such as US Treasuries rallied, with the policy-sensitive two-year yields touching a 14-month low amid increased bets on rate cuts by the Federal Reserve. We have David Kohl, Chief Economist, on the show to take us through this week's central bank decisions and give us more details on what to expect going forward.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Jan Bopp (Investment Writing)06:46 Comments on central bank meetings by David Kohl (Chief Economist)15:10 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. 

Ahead of the US Federal Reserve’s policy decision later today, the Bank of Japan raised interest rates to around 0.25% this morning, whilst also announcing a reduction to its bond buying programme. The Bank of England will announce their rate decision tomorrow and there, the markets are still undecided as to whether they will cut rates or wait another month. Microsoft’s results yesterday showed that its Azure cloud computing service saw a slowdown in quarterly growth, leading to a further fall in big tech stocks in extended trading. Head of Fixed Income Research, Dario Messi, explains why although the Fed has room to cuts rates today, it will probably wait until September’s meeting instead. And Mathieu Racheter, Head of Equity Strategy, explains his recent downgrade of the global communications sector, while also providing an update on the busy earnings season.Please note that there will be no episode tomorrow due to Switzerland’s National Day.00:00 Introduction by Lucija Caculovic (Investment Writing)00:41 Markets wrap-up by Bernadette Anderko (Investment Writing)08:22 Fixed income update by Dario Messi (Head of Fixed Income Research)12:21 Communications downgrade and earnings season by Mathieu Racheter (Head of Equity Strategy)15:41 Closing remarks by Lucija Caculovic (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 sell-off in large-cap tech companies seemed to have found a pause yesterday, with a Magnificent 7 ETF rising for the second day in a row. This week’s earnings reports from major US tech firms will be crucial in determining whether they can bounce back from last week’s losses. Meanwhile, in fixed income, companies are scrambling to secure funding ahead of this week’s pivotal central bank meetings. On today’s show, we’re joined by Tim Gagie, Head of FX & PM Solutions in Geneva, who sheds some light on the recent turbulence in precious metals and the significant carry unwind. We’re also joined by Manuel Villegas from Next Generation Research, who provides an update on the latest developments in the world of crypto.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Lucija Caculovic (Investment Writing)07:00 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)11:20 Digital assets update by Manuel Villegas (Next Generation Research)14:52 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. 

Equity markets are broadly higher following a string of positive economic data on US growth and inflation at the end of last week. The entire crypto space is also rallying after presidential hopeful Donald Trump said that, if elected, he would make the US the ‘crypto capital of the planet and the bitcoin superpower’. Mensur Pocinci, Head of Technical Analysis, believes that the consolidation in tech stocks is healthy from a technical point of view.00:00 Introduction by Bernadette Anderko (Investment Writing)00:38 Markets wrap-up by Roman Canziani (Head of Investment Writing)07:05 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)11:07 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.

Beyond the dominant theme of investors rotating out of technology and into small-cap stocks, another interesting trend has emerged: a shift from growth stocks to value stocks. Meanwhile, despite a widespread decline in business confidence across the eurozone, some upbeat earnings reports have managed to stand out. In the Asia-Pacific region, markets largely rebounded today, although Taiwan was a notable exception. Joining today’s show is Tim Gagie, Head of FX & Portfolio Management Solutions in Geneva, who shares his insights on a potential carry trade unwind and the key drivers behind precious metals markets this week.00:00 Introduction by Bernadette Anderko (Investment Writing)00:31 Markets wrap-up by Lucija Caculovic (Investment Writing)06:52 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)11:26 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 wherever you get your podcasts.

Equity investors are having a tough few days as one after another of the darlings of the past 18 months or so report disappointing Q2 earnings or issue profit warnings. Meanwhile, the Japanese yen is staging an impressive comeback ahead of next week's Bank of Japan meeting. Carsten Menke, Head of Next Generation, gives us his view on the major industrial metals.00:00 Introduction by Bernadette Anderko (Investment Writing)00:21 Markets wrap-up by Roman Canziani (Head of Investment Writing)07:42 Industrial Metals update by Carsten Menke (Head of Next Generation Research)12:08 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 wherever you get your podcasts.

Luxury companies continue to face cooling demand for their high-end goods in China. And mega-cap tech companies have had a lacklustre start to the earnings season. While equity markets are moving big on earnings reports, bond markets are taking a back seat. Dario Messi, Head of Fixed Income Research, talks about his expectations for bond markets going forward. And we have Mathieu Racheter, Head of Equity Strategy, who talks about a positive earnings season so far and where he sees strengths and weaknesses.00:00 Introduction by Lucija Caculovic (Investment Writing)00:34 Markets wrap-up by Jan Bopp (Investment Writing)06:19 Fixed income update by Dario Messi (Head of Fixed Income Research)09:46 Q2 earnings season update by Mathieu Racheter (Head of Equity Strategy)12:27 Closing remarks by Lucija Caculovic (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Stocks are broadly higher as most markets take a breather after last week's dismal performance. The second largest digital token, Ethereum, is outperforming Bitcoin on news that several spot ETFs will start trading today. Manuel Villegas of Next Generation Research explains what potential investors in these ETFs need to consider.00:00 Introduction by Bernadette Anderko (Investment Writing)00:27 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:21 Digital assets update: Manuel Villegas (Next Generation Research)10:41 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 wherever you get your podcasts.

There has been no summer lull in the markets so far. After last week's broad-based weakness in equity markets, a massive IT outage on Friday that caused global chaos and US President Joe Biden's announcement that he is dropping out of the race for the White House are keeping markets on their toes. Mensur Pocinci, Head of Technical Analysis, discusses the implications for broader trends from a technical perspective and why he sees the recent weakness in equity markets as a healthy consolidation, with the larger positive trends remaining intact.00:00 Introduction by Bernadette Anderko (Investment Writing)00:48 Markets wrap-up by Jan Bopp (Investment Writing)07:08 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)11:21 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. 

The move away from large cap technology companies towards small cap and more cyclical names remains the big theme in the markets and led to a broad sell-off in US equities yesterday. Meanwhile in Europe, the European Central Bank decided to leave its main refinancing rate unchanged at 4.25% at its meeting yesterday. Across Asia, equities have largely struggled today, with the Hang Seng Index leading regional declines. Tim Gagie, Head of FX & PM Solutions in Geneva, joins the show today to share his thoughts on the recent moves in gold, the US dollar, the Japanese yen and the Swiss franc.00:00 Introduction by Helen Freer (Investment Writing)00:48 Markets wrap-up by Lucija Caculovic (Investment Writing)06:14 Currencies and metals: Tim Gagie (Head of FX & PM Solutions Geneva)11:34 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 wherever you get your podcasts.

Stocks, especially those in the IT and communication services sectors, came under heavy pressure yesterday as investors were forced to price in new political developments – political markets are back in focus. Nicolas Jordan from the CIO office talks about how our investment strategy is dealing with the new situation, and Norbert Rücker, Head of Economics and Next Generation Research, remains cautious on oil.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Roman Canziani (Head of Investment Writing)07:03 Energy markets: Norbert Rücker (Head of Economics & Next Generation Research)11:35 Latest news from the CIO Office: Nicolas Jordan (CIO Strategy & Investment Analysis)14:49 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 wherever you get your podcasts.

Rotation is the key word in financial markets at the moment, as leadership of the US market has shifted very quickly from the Magnificent 7 to the broader market. Mathieu Racheter, Head of Equity Strategy Research, talks about how investors should position themselves in this environment and sheds some light on the ongoing earnings season. And we have Dario Messi, Head of Fixed Income Research, on the show. He talks about the recent move lower in bond yields as well as expectations for tomorrow’s ECB meeting.00:00 Introduction by Bernadette Anderko (Investment Writing)00:38 Markets wrap-up by Jan Bopp (Investment Writing)06:44 Bonds update: Dario Messi (Head of Fixed Income Research)11:12 Q2 earnings season update by Mathieu Racheter (Head of Equity Strategy)15:24 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 wherever you get your podcasts.

US stock markets are broadly higher as the odds increase that former President Donald Trump will return to the Oval Office in 2025. Meanwhile, European equities are suffering from a string of underwhelming economic data out of China. And Bitcoin is on the rise after Germany sold all of its confiscated tokens last week. Manuel Villegas from Next Generation Research talks about this and also links the performance of the largest digital asset to the US elections.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up: Roman Canziani (Head of Investment Writing)06:40 Digital assets update by Manuel Villegas (Next Generation Research)09:56 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 wherever you get your podcasts.

European and US markets closed the week higher with some stock rotation in evidence after Thursday’s US CPI data fuelled optimism of a first Fed rate cut in September. The big banks started to announce Q2 earnings, and more than 40 S&P 500 companies are due to report second-quarter earnings this week. Then came the shock attempt on Donald Trump’s life at a rally in Pennsylvania. He escaped serious injuryand as he plans the next stages of his presidential campaign, pollsters currently see a higher likelihood of him winning the race. Mensur Pocinci, Head of Technical Analysis, gives his insights into where the markets might go from here.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Bernadette Anderko (Investment Writing)08:00 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)10:53 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.

Bond markets rallied as signs of US disinflation reinforced bets the Fed will cut rates in September. This led to heavy profit-taking in the big tech space and a strong rotation into previously unloved stocks, which pulled the S&P 500 lower, while small caps jumped higher. And Tim Gagie, Head of FX & PM Solutions Geneva, also joins the show. He talks about the strength in gold, the weak US dollar and what’s behind the recent rise of the yen.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jan Bopp (Investment Writing)05:38 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva10:29 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 wherever you get your podcasts.

Big tech and chip companies were the main drivers of stock markets yesterday ahead of the all-important US June CPI data due out today. Even the CAC 40 closed the day in positive territory, despite France’s uncertain political future. Fed Chair Jerome Powell told Congress that the risks to the economy are more balanced between inflation and recession, and that the Fed does not need inflation to fall below 2% before cutting rates. Norbert Rücker, Head of Economics & Next Generation Research, updates listeners on his expectations for the oil/energy markets.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Bernadette Anderko (Investment Writing)06:11 Oil/Energy market update by Norbert Rücker (Head of Economics & Next Generation Research)10:48 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 wherever you get your podcasts.

US stocks inched higher yesterday with the S&P 500 and Nasdaq indices reaching new record highs following Fed Chair Powell’s encouraging remarks that the US is no longer an overheated economy. Dario Messi, Head of Fixed Income Research, provides an update on the bond market ahead of the ECB’s monetary policy meeting next week. And Mathieu Racheter, Head of Equity Strategy gives a preview of what to expect from the Q2 earnings season.00:00 Introduction by Bernadette Anderko (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)06:20 Bond market update by Dario Messi (Head of Fixed Income Research)11:25 Q2 Earnings Season Preview by Mathieu Racheter (Head of Equity Strategy)16:06 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.