Moving Markets

US equities rallied and bond yields fell sharply on Friday after comments from Fed Chairman Jerome Powell raised market bets that interest rates will be cut next year sooner than markets had previously discounted. Gold rose to an all-time high in Asian trading today, at one point reaching USD 2,135 an ounce. Bitcoin rose above USD 41,500 on the prospect of lower interest rates and the approval of...

Equities and bonds rallied in November on the back of softer inflation data and inflation expectations. This was confirmed by yesterday's data releases from the US and the eurozone, with the latter reporting year-on-year inflation of just 2.4% in November, close to the ECB's 2.0% target. Oil moved lower on an uninspiring OPEC+ decision to cut output and a report showing record US production in Sep...

Global stocks are on course for their best month in three years, as bond yields continue to tumble on speculation that the US Federal Reserve is done tightening and will start cutting rates next year. This has led to the US dollar falling further against its peers, with the greenback set for its worst month in a year. Norbert Rücker, Head of Economics & Next Generation Research, talks to us ab...

Federal Reserve Governor Christopher Waller triggered the US Treasury market to rally by saying that he believes that monetary policy is tight enough and that the US economy is likely to pull off a soft landing. Markus Allenspach, Head of Fixed Income Research, shares his views and explains where he sees the best opportunities to build fixed income exposure.  00:00 Introduction by Bernadette Ander...

While economic data prints out of the US showed signs of weakness yesterday, bets that the US Federal Reserve is almost done with its rate-hiking cycle, along with solid Cyber Monday sales, supported the broader risk mood in US markets. The US dollar fell further against its peers and is on course for its worst month in a year. And in the latest news from the world of crypto assets, Manuel Villega...

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...

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...

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...

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 t...

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 con...

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...

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 M...

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 mil...

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 heal...

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. M...

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...

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 rall...

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...

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 Intro...

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 Fr...

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...

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...

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 ener...

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 In...

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 re...