Yields rose across the board towards the end of last week, albeit in thin trading. Meanwhile, equities may be due for a pause before the rally continues into year-end - potentially an opportunity to add exposure. Markus Wachter of Technical Analysis explains why he prefers equities to gold at the moment.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:14 Technical Analysis update by Markus Wachter (Technical Analysis)08:59 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 your favourite podcast player. 

All the major European indices gained yesterday. Today, US PMI data is due. Pharmaceutical company Bayer has said it was unaware of the results of its blood thinner trial prior to issuing over USD 5 billion in bonds. Tim Gagie, Head of FX & PM Solutions Geneva, gives us the latest insights into currencies and metals. 00:00 Introduction by Helen Freer (Investment Writing)00:20 Markets wrap-up by Alexander Petersen (Investment Writing)03:31 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)08:36 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 your favourite podcast player. 

Global equities advanced yesterday as US Treasury yields briefly fell to their lowest level in two months. And in Europe, far-right leader Geert Wilders scores a shock victory in yesterday’s Dutch parliamentary elections. Carsten Menke, Head of Next Generation Research, gives an update on the gold market. And Nicolas Jordan, CIO Strategy & Investment Analysis, shares with us the takeaways from the latest CIO Investment Committee meeting.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Jonti Warris (Investment Writing)06:16 Gold update by Carsten Menke (Head of Next Generation Research)09:56 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)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. 

ECB President Christine Lagarde said the fight against inflation is not over, with the focus now on the impact of wage rises, while the US Federal Reserve sees interest rates remaining in restrictive territory. Nvidia reported a strong set of results and Sam Altman is back as the CEO of OpenAI. Eirini Tsekeridou, Fixed Income Research, talks about a successful US 20-year Treasury auction earlier this week and why this is a positive for fixed income investors.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Mike Rauber (Investment Writing)06:10 Fixed income update by Eirini Tsekeridou (Fixed Income Research)08:36 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 your favourite podcast player. 

US equities rise on falling US Treasury yields and strong performances from artificial intelligence stocks Microsoft and Nvidia. The Bank of England governor warns that slower growth will not stop it from raising interest rates. Talk of more support for China's big property developers sends their stocks and bonds higher. Mathieu Racheter, Head of Equity Strategy, notes that quality growth will continue to lead the way, underpinning our preference for US equities. And Manuel Villegas, Next Generation Research, talks about crypto assets as investors wait to see if the SEC will approve spot bitcoin ETFs.00:00 Introduction by Jonti Warris (Investment Writing)00:38 Markets wrap-up by Mike Rauber (Investment Writing)05:44 Equity market update by Mathieu Racheter (Head of Equity Strategy)08:22 Digital assets update by Manuel Villegas (Next Generation Research)11:00 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 your favourite podcast player. 

Last Friday, the board of OpenAI fired founder and CEO Sam Altman and appointed Emmett Shear, the former head of Amazon's Twitch game streaming site, as its new CEO. US Treasuries are on track for their best month since March, and Argentine voters elected libertarian outsider Javier Milei as their new president in a political upset. Mensur Pocinci, Head of Technical Analysis Research, talks about whether small caps are finally starting to outperform large caps, bonds benefitting from the tailwind of lower interest rates, and gold's attempt to break above USD 2,000 an ounce in recent weeks.00:00 Introduction by Mike Rauber (Investment Writing)00:34 Markets wrap-up by Alexander Petersen (Investment Writing)04:16 Technical market view by Mensur Pocinci (Head of Technical Analysis Research)08:48 Closing remarks by Mike Rauber (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. 

Chinese President Xi Jinping concluded a positive visit to the US, while Alibaba Group withdrew plans to spin off its USD 11 billion cloud business and Apple is facing delays in developing its own modem for the iPhone. Tim Gagie, Head of FX & PM Solutions Geneva, gives his views on the latest developments in currencies and metals. 00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Alexander Petersen (Investment Writing)04:01 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)09:47 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 S&P 500, Dow Jones and Nasdaq indices are all up more than 6% in November, with the Nasdaq climbing 9.8%. Stocks were buoyed further yesterday after US inflation data revealed a 0.5% drop in the PPI index for October. Markets in Asia were lower overnight following disappointing Chinese home price data. Good news came from the Presidents of China and the US agreeing to resume high-level military communication.  Carsten Menke, Head of Next Generation Research, explains why a little more patience is needed before copper prices go higher, and Nicolas Jordan, CIO Strategy & Investment Analysis, provides the latest news from our Investment Committee.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Bernadette Anderko (Investment Writing)05:32 Copper update by Carsten Menke (Head of Next Generation Research)10:13 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)13:38 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. 

Global equities rallied strongly, while US Treasury yields plunged after US inflation data surprised marginally to the downside, providing hope that the Fed has concluded its tightening cycle. Eirini Tsekeridou, Fixed Income Strategy, gives an update on the volatility in the US Treasury bond market. And Mathieu Racheter, Head of Equity Strategy, shares with us his preferred sweet spots in the healthcare sector.00:00 Introduction by Bernadette Anderko (Investment Writing)01:03 Markets wrap-up by Jonti Warris (Investment Writing)06:20 US bonds update by Eirini Tsekeridou (Fixed Income Strategy)08:49 Healthcare sector update by Mathieu Racheter (Head of Equity Strategy)12:41 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 your favourite podcast player. 

The S&P 500 and the Nasdaq Composite finished down by 0.1% and 0.2%, respectively on Monday, whilst the Dow closed up just shy of 0.2%. All three indices seem set to open higher this afternoon, reflecting market expectations of a drop in US CPI to 3.3% in October from 3.7% in September. China’s gains overnight stalled as markets await a swathe of economic data and big tech results this week. Manuel Villegas, Next Generation Research, joins the show today to update us on the latest in the crypto space.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Bernadette Anderko (Investment Writing)06:13 Digital assets update by Manuel Villegas (Next Generation Research)10:35 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 your favourite podcast player.

ECB President Christine Lagarde said that interest rates will have to stay high for longer. Weakness in Richemont and Diageo weighed on European equity markets on Friday. All sectors in the S&P 500 rose as the year-end rally in equities resumed, even as the University of Michigan survey showed a rise in long-term inflation expectations and the impact of higher rates on consumer sentiment. The JPY is trading at its lowest level since October 2022. US President Biden and China's Xi Jinping will meet on Wednesday. Mensur Pocinci, Head of Technical Analysis Research, shares his thoughts on the year-end rally, bond yields and oil.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)06:37 Technical Analysis update 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. 

US equities ended an eight-day winning streak on the back of a weak US Treasury bond sale and a more hawkish than expected speech by Federal Reserve Chairman Jerome Powell. A cyber-attack forced the US unit of a Chinese bank to send the settlement of Treasuries in physical form to the counterparty. Siemens Energy is still negotiating for critical support as it faces a huge loss. Crypto assets rally on hopes of the approval of a spot bitcoin ETF in the US. Tim Gagie, Head of FX & PM Solutions Geneva, notes that FX markets are at the crossroads of many conflicting currents, but that USD weakness is still on the cards.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Mike Rauber (Investment Writing)06:13 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)10:35 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 your favourite podcast player.

As US Treasuries steady and investors anticipate a peak in interest rates, US equity markets advanced for the eighth straight session. And the latest Chinese CPI data hints at low-for-longer growth expectations in China. Carsten Menke, Head of Next Generation Research, shares his thoughts on the gold market’s reaction to the current geopolitical shock and the outlook for the precious metal.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Jonti Warris (Investment Writing)04:55 Gold update by Carsten Menke (Head of Next Generation Research)09:17 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 your favourite podcast player. 

Oil prices have fallen sharply over the past three weeks and are now at a 3-month low. Equity markets are contemplating whether the Fed will deliver a pivot in 2024. Dario Messi, Fixed Income Strategy, provides insights into the Bank’s view on high yield bonds, whilst Mathieu Racheter, Head of Equity Strategy, updates on the Q3 earnings season and the development of the year-end rally.00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Alexander Petersen (Investment Writing)03:31 Fixed Income update by Dario Messi (Fixed Income Strategy)08:30 Equities update by Mathieu Racheter (Head of Equity Strategy)12:49 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.

US stocks managed to hold on to last week’s gains in yesterday's trading as strategists await the testimony from a number of Federal Reserve officials later this week. Investors are eager to hear their views on whether inflation is finally under control. And did you know that some see Bitcoin as a 'store of value'? Next Generation Research's Manuel Villegas explains.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Bernadette Anderko (Investment Writing)06:00 Digital assets update by Manuel Villegas (Next Generation Research)11:04 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.

Friday's US non-farm payrolls report, which showed signs of a cooling US labour market, triggered a rally in equities and a fall in bond yields. Mensur Pocinci, Head of Technical Analysis, says that this rally is likely to have legs into year-end, not only in the US but also in Europe and especially Japan.00:00 Introduction by Bernadette Anderko (Investment Writing)00:21 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:32 Technical Analysis outlook by Mensur Pocinci (Head of Technical Analysis Research)11:00 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 your favourite podcast player. 

US equities are on course for their best week of the year. Apple disappointed with its earnings release after the US close. Companies that surprised to the upside have seen their share prices rise sharply since the end of the week. The Bank of England stayed on the sidelines but remains in inflation-fighting mode. Overall, global equities could be on the cusp of a year-end rally. Tim Gagie, FX/PM PB Sales Geneva, notes that there has been a shift away from the US dollar this week.00:00 Introduction by Bernadette Anderko (Investment Writing)00:25 Markets wrap-up by Mike Rauber (Investment Writing)07:17 Update on currency and metals markets by Tim Gagie (Head of FX & PM Solutions Geneva)12:47 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.

US equities and Treasuries were stronger after the Fed decided to leave its key interest rate unchanged and Jerome Powell hinted that the hiking cycle might be over. Today the Bank of England is expected to keep its interest rate unchanged, remaining at its highest level since 2008. Norbert Rücker, Head of Macro & Next Generation Research, gives his views on the latest developments in the energy sector, and Nicolas Jordan from the CIO office provides an update from the latest Investment Committee meeting.00:00 Introduction by Bernadette Anderko (Investment Writing)00:28 Markets wrap-up by Alexander Petersen (Investment Writing)03:58 Energy update by Norbert Rücker (Head of Macro & Next Generation Research)08:46 Investment Committee Update by Nicolas Jordan (CIO Strategy & Investment Analysis)12:20 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 inflation continues to retreat in the eurozone, consumer confidence in the US falls on worries around business conditions and the cost of living. And in Asia, disappointing PMI data is hampering the prospects of recovery for the region's exporters, while the Japanese Ministry of Finance declared it is on standby ready to intervene in currency markets to aid the ailing yen. Dario Messi, Fixed Income Strategy, shares his thoughts ahead of today’s Fed rate decision.00:00 Introduction by Roman Canziani (Head of Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)07:00 Fixed Income update by Dario Messi (Fixed Income Strategy)11:57 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.

With no major geographical escalation over the weekend, US equities rose on Monday, helped by companies such as McDonald's which surprised on the upside with earnings. In Germany, inflation is at its lowest since 2021, but on the flip side, it is the only developed market economy in recession this year. China's economy remains fragile and the JPY is weaker as the Bank of Japan's monetary policy remains below market expectations. Mathieu Racheter, Head of Equity Strategy, notes that while the US is in an earnings recovery, Europe is still in an earnings recession. Manuel Villegas, Next Generation Research, talks about bitcoin as it moves from a payment token to a store of value; the next signpost is whether spot bitcoin ETFs will be approved by the SEC.00:00 Introduction by Bernadette Anderko (Investment Writing)00:26 Markets wrap-up by Mike Rauber (Investment Writing)06:29 Q3 Earnings update by Mathieu Racheter (Head of Equity strategy)12:53 Crypto assets update by Manuel Villegas (Next Generation Research)18:13 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 US yield curve appears stuck and the S&P 500 index is down more than 10% from its highs earlier this year. This week's Federal Reserve decision on interest rates, news of the US Treasury’s borrowing plans, employment data and earnings are all likely to determine the market's direction into the year end. Mensur Pocinci, Head of Technical Analysis, says that lows in sentiment often coincide with the lows in markets. And Luca Menozzi, Next Generation, talks about future mobility, a structural trend that is unaffected by the daily ebb and flow of financial markets.00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)05:26 Technical Analysis outlook by Mensur Pocinci (Head of Technical Analysis Research)09:40 Latest news on self-driving cars by Luca Menozzi (Next Generation Research Analyst)13:59 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. 

Asian equity markets were stronger this morning and US futures are higher following better than expected US GDP growth and strong earnings from two tech heavyweights. Markus Allenspach, Head of Fixed Income Research, gives his views on the ECB's decision to leave interest rates unchanged, and Bence Boldvai of FX & PM Advisory provides insight into currency and commodity movers this week.00:00 Introduction by Bernadette Anderko (Investment Writing)00:27 Markets wrap-up by Alexander Petersen (Investment Writing)04:45 ECB rate decision and ramifications for markets by Markus Allenspach (Head of Fixed Income Research)11:07 Update on currency and metals markets by Bence Boldvai (FX & PM Advisory)14:21 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. 

While US new homes sales rose strongly, highlighting the remarkable resilience of the US economy, it’s the Q3 earnings season that continues to dominate investor sentiment this week. Carsten Menke, Head of Next Generation Research, talks about China's latest stimulus measures and what these mean for industrial metal prices. And Ronny Kaufmann, CIO Strategy & Investment Analysis, provides an update on Julius Baer's CIO secular outlook, an essential part of Julius Baer's investment process.00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)05:55 What China’s infrastructure boost means for commodities by Carsten Menke (Head of Next Generation Research)09:37 Investment Committee update by Ronny Kaufmann (CIO Strategy & Investment Analysis)17:02 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. 

US equities snapped a five-day losing streak yesterday, supported by slightly lower Treasury yields and solid earnings. In Europe, all eyes are on the European Central Bank's interest rate decision tomorrow, while in Asia, both China and Japan are planning to increase government support to help their ailing economies. Dario Messi, Fixed Income Research Analyst, joins today’s episode to outline our expectations for tomorrow’s ECB meeting and what it means for our fixed income strategy.00:00 Introduction by Jonti Warris (Investment Writing)00:37 Markets wrap-up by Lucija Caculovic (Investment Writing)05:49 ECB preview by Dario Messi (Fixed Income Research)09:51 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 your favourite podcast player. 

Lower yields after 'things have gone too far', two mega-mergers and the earnings season in full swing this week have driven markets in recent hours. And bitcoin is back in the news after surpassing USD 35,000 overnight. Find out why Manuel Villegas, crypto analyst in our Next Generation team, thinks the crypto winter may be over.00:00 Introduction by Bernadette Anderko (Investment Writing)00:25 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:31 Digital Assets update by Manuel Villegas (Next Generation Research)10:12 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. 

In last week’s risk-off environment, the Swiss franc and gold have been the safe haven of choice for investors, while government bonds – another traditional safe haven – are showing weakness amid inflation and interest rate uncertainty. In other news, China's onshore equities are at their lowest since 2019 and Argentina faces another turbulent period ahead of the presidential run-off election on 19 November. Mensur Pocinci, Head of Technical Analysis, notes that a year-end rally could materialise if the S&P 500 index holds above the key 4,200 level.00:00 Introduction by Lucija Caculovic (Investment Writing)00:31 Markets wrap-up by Mike Rauber (Investment Writing)07:18 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)10:37 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. 

President Joe Biden appealed directly to the American people to support funding for Israel and Ukraine's war efforts. Federal Reserve Chairman Jerome Powell indicated that the US central bank is inclined to keep interest rates on hold at its next meeting. Data from EPFR Global and Morgan Stanley showed that US and European fund managers have sold a net USD 1.6 billion of Chinese equities so far this month. As people are living longer but there is also an increase in the prevalence of various diseases, Damien Ng from the Next Generation Research team provides insights on the topic of extended longevity.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up by Alexander Petersen (Investment Writing)03:42 Extended Longevity by Damien Ng (Next Generation Research)10:33 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. 

Mounting tensions in the Middle East and fears over elevated bond yields have sent markets into risk-aversion mode, as investors also try to decipher clues from the Fed around rates staying higher for longer. Yesterday, stocks came under pressure and oil gained as Iran stepped up its rhetoric against Israel. As investors flee to safe havens amid escalating geopolitics, Tim Gagie, Head of FX & PM Solutions in Geneva, shares his thoughts on the main beneficiaries in currencies and precious metals.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Jonti Warris (Investment Writing)06:22 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)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 your favourite podcast player. 

A robust set of economic data from the US was enough to push yields sharply higher in recent hours, while safe-haven flows ebbed despite a further escalation in the Israel-Hamas conflict. Financial markets are torn between geopolitical developments and a great start to the US earnings season. Dario Messi, Fixed Income Research, notes that central bank guidance on monetary policy has increased again.00:00 Introduction by Mike Rauber (Investment Writing)00:44 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:49 Fixed income update by Dario Messi (Fixed Income Research)11:35 Closing remarks by Mike Rauber (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 view that the conflict in the Middle East may remain geographically limited with little impact on markets was the leading narrative yesterday. US equities and, today, Asian equities rose on the resulting risk-on sentiment. A strong start to the US earnings season also helped to improve investor sentiment after a rocky weekend. Manuel Villegas, Next Generation Research, talks about how the macro headwinds for bitcoin are fading as the approval of a spot bitcoin ETF looks increasingly likely.00:00 Introduction by Jonti Warris (Investment Writing)00:34 Markets wrap-up by Mike Rauber (Investment Writing)06:36 Digital assets update by Manuel Villegas (Next Generation Research)10:21 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 your favourite podcast player.

As the US and its allies stepped up efforts to prevent further escalation in the Israel-Hamas conflict, safe-havens lost some ground and helped equity futures move higher. Meanwhile, the earnings season kicked off last week with some impressive results and is set to gather pace this week. In Asia, Chinese equities failed to benefit from the central bank’s liquidity injection and are suffering from renewed tensions with the US. Mensur Pocinci, Head of Technical Analysis, joins today’s episode to share his views on equities and commodities.00:00 Introduction by Roman Canziani (Head of Investment Writing)00:28 Markets wrap-up by Lucija Caculovic (Investment Writing)06:10 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)08:51 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.

Although the latest US CPI figures were only slightly higher than expected, they were a welcome trigger for traders to take some profits after a few strong days. However, expectations for the first interest rate cuts in the US have been pushed back, reaffirming the market's current 'higher for longer' mantra. Tim Gagie, Head of FX & PM Solutions in Geneva, sums up an intense week for currency and metals traders.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)05:58 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)10:04 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.

Equity markets are clearly anticipating a CPI report today that will show inflation slowing in the US, as most of the main global indices closed their sessions higher yesterday. China’s stock market was boosted by an announcement from Central Huijin Investment Ltd that they are increasing (and will continue to increase) their stake in four Chinese banks. Norbert Rücker, Head of Macro & Next Generation Research, puts the oil market in perspective in light of the ongoing geopolitical situation, and Nicolas Jordan, CIO Strategy & Investment Analysis, explains why our Investment Committee continues to be bullish. 00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Bernadette Anderko (Investment Writing)05:47 Oil by Norbert Ruecker (Head of Macro & Next Generation Research)10:41 Latest news from the Investment Committee by Nicolas Jordan (CIO Strategy & Investment Analysis)13:31 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 Treasury yields posted their biggest one-day drop all year on expectations that the US Federal Reserve has finished raising interest rates, and as safe-haven demand for Treasuries increased. The fall in yields also helped equity markets. In Asia, potential new stimulus measures from China are improving investor sentiment and supporting markets. Oil, meanwhile, remains in the spotlight amid the Israel-Hamas conflict. Dario Messi from Fixed Income Research joins the show today to shed more light on yields and what’s been driving them.00:00 Introduction by Bernadette Anderko (Investment Writing)00:21 Markets wrap-up by Lucija Caculovic (Investment Writing)05:25 Bond Market Update by Dario Messi (Fixed Income Research)10:27 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 US National Security Council has announced a security aid package for Israel, and that more support will be announced in the near future. Treasuries jumped the most since March this morning after dovish Federal Reserve comments and the Middle East conflict fuelled a safe-haven rally. Chinese developer Country Garden has stepped up warnings that it's on course for its first ever default and has hired advisers, the strongest indication yet that the company is heading for a restructuring. Norbert Rücker, Head of Macro & Next Generation Research, gives his views on the oil market and the impact of the current conflict in the Middle East on financial markets.00:00 Introduction by Helen Freer (Investment Writing)00:25 Markets wrap-up by Alexander Petersen (Investment Writing)04:20 Israel – Gaza conflict and market implications by Norbert Rücker (Head of Macro & Next Generation Research)10:14 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 staged an impressive turnaround on Friday, but market sentiment is subdued this morning following the escalation in the Middle East. In response to the developments, oil and safe-haven assets such as the US dollar and gold surged. Meanwhile in Asia, China returns from its ‘Golden Week’ holiday, which saw tourism revenues rise while other consumption figures remained mixed. Markus Wachter from our Technical Analysis Research team joins today’s show to discuss US equities.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up by Lucija Caculovic (Investment Writing)05:14 Technical Analysis update by Markus Wachter (Technical Analysis Research)09:11 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 market is focused on today's US employment report. Expectations are for an increase of 170,000 in non-farm payrolls last month, and any sharp deviations from expectations could potentially lead to big moves in financial markets today. There are reports that Exxon is buying Pioneer Natural Resources, which would be the largest acquisition of another company this year. The Reserve Bank of India left interest rates unchanged at 6.5% but warned of inflationary risks. Richard Tang, Head of Research Hong Kong, gives his views on the state of the Chinese economy and stock market.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)06:34 China update by Richard Tang (Head of Research Hong Kong)14:56 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 your favourite podcast player.

Not such good news from the jobs market was good news for financial markets yesterday with US Treasury yields declining and US equities bouncing off multi-week lows. Longer-dated US Treasuries are experiencing losses similar to US equities during the dot.com crash in the early 2000s. Carsten Menke, Head of Next Generation Research, talks about gold and notes early signs of investors starting to capitulate after the recent drop.00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Mike Rauber (Investment Writing)05:40 Gold by Carsten Menke (Head of Next Generation Research)08:48 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 your favourite podcast player.

A single report of a stronger-than-expected US labour market was enough to trigger another sell-off in equities yesterday. Dario Messi, Fixed Income Research, puts rising global yields into perspective, and Tim Gagie, Head of FX & PM Solutions, Geneva, says the rally in the US dollar looks a bit overdone.00:00 Introduction by Bernadette Anderko (Investment Writing)00:38 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:21 Bond Market Update by Dario Messi (Fixed Income Research)10:24 Latest from the FX markets by Tim Gagie (Head of FX & PM Solutions Geneva)14:54 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.

Investor sentiment was dealt a further blow yesterday after manufacturing PMI data showed that manufacturing activity in the eurozone continued to weaken. The US managed to outstrip estimates, but remained in contraction territory all the same. And Manuel Villegas, Next Generation Research, provides us with the latest news from the digital assets world and the impact on crypto markets.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Jonti Warris (Investment Writing)06:02 Digital assets update by Manuel Villegas (Next Generation Research)09:26 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 futures raced higher this morning following a last-minute deal on Saturday evening to keep the US government open until at least 17th November. Bond yields are, however, further elevated over concerns of inflation, higher oil prices and how long interest rates will remain high. Chinese markets will be closed this week for the Golden Week holiday. Mensur Pocinci, Head of Technical Analysis, explains why he is bullish on the US dollar and believes that we will see US stocks rally into year end. 00:00 Introduction by Helen Freer (Investment Writing)00:24 Markets wrap-up by Bernadette Anderko (Investment Writing)05:11 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)08:11 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 equities have struggled in September, but staged a bit of a month-end rally yesterday after US Treasury yields fell back from 15-year highs. Meanwhile in Asia, hopes that China’s Golden Week holiday will boost consumer spending are helping sentiment, as is the news that US and Chinese leaders are in talks to meet. In commodities, oil continues to grab headlines, with Brent on track for its best quarter since Q1 2022. Tim Gagie, Head of FX & PM Solutions in Geneva, joins today’s show and outlines why gold has had a tough week and how the stronger oil price is affecting the FX markets.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Lucija Caculovic (Investment Writing)06:05 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)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.

Benchmark US oil prices rose to USD 95 a barrel for the first time in more than a year after inventories in the nation's main stockpile fell to critical levels. Meanwhile, the prospect of a US government shutdown is weighing on markets already jittery about higher rates. Norbert Rücker, Head of Macro & Next Generation Research delves into the oil story and further expands on energy transition, whilst Nicolas Jordan shares the views from our investment committee on interest rates, inflation and whether we’ll see a bounce into year end. 00:00 Introduction by Bernadette Anderko (Investment Writing)00:34 Markets wrap-up by Alexander Petersen (Investment Writing)03:52 Energy update & Net Zero scenarios by Norbert Rücker (Head of Macro & Next Generation Research)09:39 Update from the CIO office by Nicolas Jordan (CIO Strategy & Investment Analysis)12:32 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. 

September continues to live up to its bad reputation in financial markets, with equities down between 3% and 7% and bond yields continuing to rise. The Federal Reserve's insistence on keeping policy tighter than expected continues to weigh on markets. Dario Messi, Fixed Income Research, explains how this could also be an opportunity for investors.00:00 Introduction by Bernadette Anderko (Investment Writing)00:24 Markets wrap-up by Roman Canziani (Investment Writing)05:57 Bond Market Update by Dario Messi (Fixed Income Research)10:54 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. 

Investor sentiment in Europe took a hit yesterday as concerns around interest rates staying higher for longer and renewed fears in the Chinese economy continued to daze markets. In the US, however, equities managed to snap their four-day losing streaks, shrugging off moves in the bond market. And Manuel Villegas, Next Generation Research, provides an update on the Bitcoin spot ETF saga and what this means for crypto markets. 00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)06:15 Digital assets update by Manuel Villegas (Next Generation Research)09:47 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 closed the week lower after comments from the leading central banks forced investors to realise that they will be stuck with higher rates for longer than expected as the war against inflation continues to be fought at the monetary policy level. Asia’s stock indices are facing their own challenges today as China’s property sector continues to implode. Mensur Pocinci, Head of Technical Analysis, reveals what the charts say about whether September’s sell-off can be converted into a year-end rally.00:00 Introduction by Helen Freer (Investment Writing)00:21 Markets wrap-up by Bernadette Anderko (Investment Writing)06:00 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)08:52 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. 

This week, one central bank after another made it clear that interest rates need to stay higher for longer. As a result, government bond yields rose sharply, the US dollar strengthened and equities sold off. Only the Bank of Japan remains on a different wavelength, keeping its monetary policy as loose as ever. In Asia, the positive news is that China may allow the immediate transfer of investment-related funds in and out of the country, while India's government bonds will be included in a major global bond index. Tim Gagie, Head of FX & PM Solutions Geneva, notes that the Swiss National Bank's decision not to raise interest rates was the most surprising, but also the most understandable. Carsten Menke, Head of Next Generation Research, makes the point that good news on the economy is bad news for gold.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Mike Rauber (Investment Writing)06:22 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)11:32 Gold by Carsten Menke (Head of Next Generation Research)15:58 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. 

The Federal Reserve left interest rates unchanged but hinted at one more hike in the US this year and that rates will stay higher for longer than market participants had initially thought. Yields are higher and equities lower this morning, with only the US dollar shining. Ronny Kaufmann, CIO Strategy & Investment Analysis, explains that the current expansionary US fiscal policy could make the Federal Reserve's job of balancing monetary policy even harder in the future.00:00 Introduction by Helen Freer (Investment Writing)00:31 Markets wrap-up by Roman Canziani (Head of Investment Writing)06:26 Latest news from the Investment Committee by Ronny Kaufmann (CIO Strategy & Investment Analysis)14:24 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.