Moving Markets

US and Asian stock markets closed fairly flat yesterday and overnight, with only Hong Kong seeing any meaningful gains, based on local news reporting of further covid restrictions being lifted. Investors now await more economic data this week for clues on what to expect from the US Federal Reserve next week. Amidst the oil, gas and coal headlines dominating the newswires, Norbert Rücker, Head of M...

It was not an economic data release, but downbeat remarks from CEOs of major US banks about growth headwinds ahead that led the US equity market lower yesterday. Yet, on the positive side of the ledger, China’s National Health Commission announced 10 new measures to ease Covid restrictions. Dario Messi, from Fixed Income Research, joined the show to talk about why the fundamental backdrop for emer...

The ISM Services Index rose to 56.5 in November which has cast some doubt over a Fed pivot and contributed to US equity markets falling and US Treasury yields surging yesterday. Chinese authorities are relaxing some of their strict Covid rules, but the possibility of new tariffs on Chinese steel and aluminium might weigh on sentiment. David Meier, Senior Economist, talks about the EUR/USD outlook...

OPEC+ agreed yesterday to keep its output targets unchanged. Chinese authorities appear to be engineering a major shift away from their strict Covid Zero policy with the relaxation of testing rules across major cities. Saudi Arabia’s Crown Prince may be preparing to invest around USD 500 million in Credit Suisse’s CS First Boston spinout. Mensur Pocinci, Head of Technical Analysis, provides an upd...

US economic data releases on Thursday pointed to a cooling off in growth and inflation. All eyes will be on the US labour market data today and whether it can impact interest rate expectations and the markets as a whole. Tim Gagie, Head of FX & PM Solutions Geneva, talks about whether the recent USD weakness has room to grow. Manuel Villegas from Next Generation Research is on the show for the...

US markets were buoyed yesterday by the US Federal Reserve Chairman Jerome Powell saying that smaller interest rate increases are likely to be coming – as early as this December.  Asian markets also rallied on the back of the US optimism and an initial easing in China’s Covid-zero approach. Carsten Menke, Head of Next Generation Research talks about the current moves in gold and silver, and what h...

One of the main stories in the market remains China, where officials have asked local authorities to avoid excessive lockdown curbs and have promised to step up vaccinations. In Europe, meanwhile, recent data has shown that price pressures have eased significantly in Spain and Germany. Investors now await inflation data for the whole eurozone later today. Dario Messi from Fixed Income Research tal...

US Federal Reserve policymakers suggest that interest rates may peak higher than anticipated, foreseeing a modestly higher path for policy compared with its stance in September. UK Prime Minister Rishi Sunak calls for robust pragmatism towards China, referring to the country as a systemic threat. And Damien Ng, Next Generation Research Analyst, talks to us about developments in the global immunoth...

Protests are spreading across China over harsh anti-virus curbs. In the UK, meanwhile, Prime Minister Rishi Sunak is facing pushback from his ruling Conservatives as they try to force the government to drop a ban on new onshore wind farms. Mensur Pocinci, Head of Technical Analysis, gives an update on the latest market moves, and Mark Mathews, Head of Research APAC, supplies more insights on the c...

The US equity markets were closed yesterday for Thanksgiving and are only open in the morning session today. Yet, people across the US will be shopping around the clock as it is Black Friday, the unofficial start of the holiday shopping season, while parts of Beijing are back in lockdown again due to the country’s Covid policy. Tim Gagie, Head of FX&PM Solutions Geneva, talks about the recent...

The US Federal Reserve signalled that it is leaning towards downshifting to a 50 basis points rate hike in December. In Asia, meanwhile, the Chinese Communist Party indicated further monetary stimulus, including a likely cut in the reserve requirement ratio for banks. Carsten Menke, Head of Next Generation Research, gives an update copper and metals, and Nicolas Jordan from CIO Strategy & Inve...

Credit Suisse is cutting at least a third of its investment banking workforce in China as part of the bank’s cost-cutting plans. And the ongoing crypto crisis shows no signs of abating, with fears of contagion continuing to spread throughout the crypto world. Dario Messi, Investment Research, talks about US fixed income and his view on the rising risk of a recession. 00:09 Introduction and markets...

The sentiment is fragile in Asia after China’s daily virus infections climbed to near the highest on record. It is said local authorities may possibly re-introduce strict measures, despite the new directives from authorities over a week ago, that marked an easing in the official zero-Covid playbook. Guy Bettschart, Equity Analyst, shares insights on our longstanding Overweight call on Healthcare e...

Markets are mostly down today after China reported its first Covid deaths in almost six months, sparking fears of new lockdown measures in the country. This week is traditionally quiet due to the Thanksgiving holiday in the US, but there will be a focus on the FOMC minutes which are released on Wednesday as these may offer some new insights. Mensur Pocinci, Head of Technical Analysis, talks about...

The St. Louis Fed President, James Bullard, suggested in a speech yesterday that policymakers should raise interest rates to at least 5% to 5.25% - this likely contributed to all the major markets in the US ending the day in the red yesterday, and all except the DAX following suit in Europe. In the UK, Jeremy Hunt announced the Autumn Statement, and in Japan, core inflation for October reached a 4...

Both the US and Asian stock markets were upended by micro news overnight. In the US, it was Target that rattled investors by announcing that sales were down as shoppers grappled with higher inflation heading into a peak shopping season. US retail sales data however painted a different picture coming in 0.3% higher than expected in October. In Asia, an announcement from Tencent that it will divest...

A softer than expected increase in US producer price prices for October gave US equities another boost. However, geopolitical concerns are weighing on sentiment this morning after a missile is reported to have struck land in Poland near the Ukraine border. Dario Messi from Fixed Income Research speaks about the broadening opportunity set in fixed income following the rise in real bond yields this...

At the G-20 summit in Bali, President Joe Biden and President Xi Jinping met face-to-face for the first time since the start of the Covid-19 pandemic. The meeting ran about three hours, and showed signs of reduced US-China tensions. David Meier, Economics Research, gives an update on the EUR/USD currency pair, and why we believe the dollar has likely peaked. 00:09 Introduction and markets wrap-up...

Asian equities advanced to their highest level in two months on the back of China’s policy shifts on Zero Covid and the property sector. Democrats will keep control of the US Senate after its candidate for the US Senate for the State of Nevada is all but certain to have won the contest. Mensur Pocinci, Head of Technical Analysis, takes a look at market dynamics after the strong moves last week, an...

Equities rallied, the USD fell, and bond yields plunged following a report that US inflation rose less than expected in October. This morning, a subtle shift in China’s zero-Covid policy towards more targeted and scientific implementation is adding fuel to Asian equities. Carsten Menke, Head of Next Generation Research, speaks about gold, which has rallied sharply from mid-week lows. Philipp Lienh...

While the race for the US Senate is still open and it may be days or even weeks before the results are final, US President Joe Biden said that the Democrats had exceeded expectations and that he intends to run for a second term. Today, all eyes are on the latest consumer price data from the US, which will offer some clues on the path of future Fed tightening. Carsten Menke, Head of Next Generation...

While all eyes are on the results of the US Midterm elections rolling-in, it could still take a while until final results are declared. Markets will soon focus on tomorrow’s US inflation figures, which are expected to drop slightly. Mathieu Racheter, our Head of Equity Research, shares his take aways on the Midterms and their impact on markets, and Tim Gagie, our Head of FX&PM Solutions in Gen...

Former US President Donald Trump plans to make a “big announcement” next week, indicating that he intends to run for President in 2024. China is experiencing an increase in coronavirus infections, reporting 7,323 new local Covid-19 cases, as it staunchly defends its zero-Covid policy. And David Meier, Senior Economist, gives us a preview of what we can expect from today’s eagerly awaited US midter...

Whilst speculation mounted about China’s re-opening story, Chinese officials vowed over the weekend to remain “unswervingly” strict in Beijing’s approach to stamping out the coronavirus. Mensur Pocinci, Head of Technical Analysis, provides an update on markets from a technical perspective. Richard Tang, Head of Research Hong Kong, shares his insights on China’s potential easing of the zero-Covid s...

US market sentiment was subdued following the big Fed-day on Wednesday, while the Bank of England delivered its largest rate hike in 33 years. China shares are on course for their best week since 2015 on continued speculation that the nation will start relaxing its zero-Covid policy. Tim Gagie, Head of FX&PM Solutions Geneva, takes a closer look at what drives currency markets this week with a...