Moving Markets

Yesterday evening saw all eyes once again on the US Federal Reserve, when it announced its fourth consecutive rate hike of 0.75%. Today is the Bank of England’s turn, and it is expected to follow suit. We hear from David Meier, Senior Economist, with his thoughts on the outcome of yesterday’s FOMC meeting, from Carsten Menke, Head of Next Generation Research, on precious metals, and from Nicolas J...

In China, equity markets rallied as investors there entertained the prospect that the zero-Covid policy might be dropped but at the same time the area around Foxconn Technology’s group has been put into a 7-day lockdown, which will drastically curtail shipments in and out of the world’s largest iPhone factory. US equity markets fell yesterday, the dollar faltered and 2-year Treasury yields rose –...

US markets took a breather yesterday, after a couple of strong trading days last week. While today’s trading action will be overshadowed by the Federal Reserve’s rate decision tomorrow, Asian stock markets are rallying on speculation to an end of the Covid-Zero policy in China. Nenad Dinic, from our Research’s Equity Strategy team, shares his thoughts on the outcome of the Brazilian Presidential e...

US equity markets all made solid gains on Friday and 2-year and 10-year US Treasury yields rose for the first time in four days. Wheat futures have surged today after Russia has withdrawn from the Black Sea corridor agreement and in Brazil’s presidential election, the left-wing former president Lula da Silva has beaten the far-right incumbent Bolsonaro. Mensur Pocinci, Head of Technical Analysis,...

Shares are falling in Asia after disappointing results from US tech giants Meta and Alphabet, while the Bank of Japan does not move an inch on its ultra-low interest rate policy. David Meier, Macro & Next Generation Research, notes that the ECB is clearly focused on the inflation battle, but he explains why we have a below consensus view on future interest rate hikes. Carsten Menke, Head of Ne...

Credit Suisse posted a disastrous loss of CHF 4 bn in its Q3 results, hugely below the average estimate of CHF 413m. The disappointing results come as the bank is preparing a sweeping restructuring overhaul and is said to be in advanced talks with a group including heavyweights Apollo and Pimco, who are interested in buying the bank’s securitised products business. Norbert Rücker, Head of Macro &a...

Chinese stocks in Hong Kong extended their rebound from their historic rout earlier this week, as authorities sought to bolster investor confidence in one of the worst-performing markets this year. Rishi Sunak is under criticism for reappointing a number of scandal-plagued former ministers to senior government positions. Philipp Lienhardt, Head of Equity Research, gives an earnings season update....

US stock markets rallied yesterday but Asian markets couldn’t quite make their minds up, underscoring investor nervousness following China’s twice-a-decade Communist Party Congress and the announcement that President Xi Jinping remains in power. Rishi Sunak will become the UK’s new prime minister after meeting with the King today. David Meier, Macro & Next Generation Research, shares his thoug...

After the end of the party Congress in China, big falls in Hong Kong stocks and mainland China markets today have seen the Hang Seng index drop to its lowest levels since April 2009. There have been big swings in the yen amid signs of another intervention from the Japanese authorities. And after Boris Johnson withdraws from the Conservative party leadership race in the UK, Rishi Sunak and Penny Mo...

Traders were probably less surprised about Liz Truss’s political exit than herself. However, this morning, it is economic data, which weigh on the British pound. Yields in the US are back at levels last seen during the financial crisis and European yields are expected to catch up. Tim Gagie, our Head of FX&PM Solutions Geneva, shares his views on the latest moves in FX and metals markets. 00:0...

The equity market rally seen earlier in the week stalled yesterday and 2 and 10-year US Treasury yields climbed 13 basis points amid fears of a global slowdown. The Japanese Yen is inching towards the psychological barrier of 150 relative to the US dollar, so investors are watching closely for further intervention to support the currency. Nicolas Jordan, CIO Strategy & Investment Analysis, pro...

Earnings reports in the US fuelled the rally overnight but the story was more mixed in Asian trading. Mathieu Racheter, Head of Equity Strategy explains why he favours software in the IT space, and Dario Messi, Fixed Income Research joins us to reveal whether or not emerging market bond yields are just too attractive to ignore. 00:09 Introduction and markets wrap-up by Bernadette Anderko (Investme...

The global stock market started the week with a big rally, which saw the Nasdaq Composite Index rise 3.4%. Reasons for the rally were the solid earnings reports so far that offer a largely rosy view of the US consumer, as well as the news that Jeremy Hunt, the new UK Chancellor of the Exchequer, will reverse nearly all announced tax cuts and wind back energy subsidies. Richard Tang, Head of Resear...

At the 20th national party congress, President Xi Jinping indicated no change in course for the two major risk factors weighing on the Chinese economy. Liz Truss is fighting for her premiership this week, when financial markets will render a new verdict on her economic reset. Mensur Pocinsi, head of Technical Analysis, gives a technical update and Ronny Kaufmann from CIO Strategy & Investment...

Following the higher-than-expected US inflation figures, US stocks initially plunged but then rallied, which improved the overall risk appetite and boosted other equity markets around the world. Now investors are turning their attention to the earnings season with the big US banks being the first to report their Q3 results today. David Kohl, our Chief Economist, shares his take on the US inflation...

The S&P 500 is at its lowest level since November 2020; the minutes of the US Federal Reserve’s September meeting show that it is committed to raising rates to restrictive levels; and Germany reported that inflation rose 10% in the 12-months ending September. This sets the stage for the all-important US inflation report due out later today, which is likely to drive market action today, and may...

Stock markets continue to suffer in the face of inflation and recession risks but the US Treasury Secretary Janet Yellen insists that the US economy is doing “very well”. The Bank of England publicly said it would buy more bonds but only until Friday. Privately, however, it’s reported that they will extend the deadline. Mathieu Racheter, Head of Equity Strategy shares his thoughts on the upcoming...

Despite a slight change of tone coming from the Federal Reserve, US bond markets remain under pressure and yields have climbed further over the past hours. The US administration’s decision to curb China’s access to US semiconductor technology weighed heavily on the sector worldwide. David Kohl, Chief Economist, shares his views on the latest US labor report and Sophie Altermatt from Macro and Next...

Chinese semiconductor stocks are falling after the United States imposed new restrictions on China's access to American technology. Liz Truss is preparing for battle with her ruling Conservative Party in a bid to quash any attempt at rebellion just one month into her UK premiership. Markus Wachter, from Technical Analysis, gives a technical update. 00:09 Introduction and markets wrap-up by Alexand...

A drumbeat of hawkish comments from Federal Reserve officials kept stocks on the back foot, after a strong rally earlier this week. Tim Gagie, Head of FX&PM Solutions Geneva, shares his latest insights on the markets. Carsten Menke, Head of Next Generation Research, gives an update on digital assets with a focus on the city of Lugano embracing tokens as a form of payment. 00:09 Introduction an...

Despite higher-than-expected US PMI services readings, stocks managed to claw back almost all of the losses through the trading session yesterday. The OPEC+’s announcement of a massive oil production cut provided tailwinds for oil and gas shares. Carsten Menke, our Head of Next Generation Research, shares his views on the latest moves in silver. 00:08 Introduction and markets wrap-up by Roman Canz...

Stock markets rallied in the US and those parts of Asia that were open overnight, as a weakening in the most recent US job openings data prompted some investors to consider whether the Federal Reserve would slow the pace of interest rate hikes. Amidst this, Elon Musk went back to the SEC to say that he will buy Twitter at the agreed price after all. Dario Messi, Fixed Income Research Analyst, shar...

Following the worst September in two decades, markets are rebounding. Oil is surging on indications that the OPEC+ alliance is considering cutting production by over 1 million barrels a day to help prop up plunging prices. David Meier, Senior Economist, shares his latest insights on the UK macroeconomic situation. 00:08 Introduction and markets wrap-up by Jonti Warris (Investment Writing) 04:13 Up...

US and European inflation data released on Friday surprised to the upside and Nike shares fell the most in 20 years. Oil is back up as there are reports that OPEC+ countries will cut oil production by one million barrels. The pound is up as the UK government will not cut its top income tax rate. And Brazil is off to a run-off election to be held on 30 October. Markus Wachter, Technical Analysis, s...

Stocks ended the day another leg lower yesterday after US Federal Reserve speakers reiterated their strong will to raise rates further, despite increasing volatility on financial markets and clear signs of slowing growth. Tim Gagie, Head of FX&PM Solutions Geneva, shares his views on currencies and metals markets, and Carsten Menke, Head of Next Generation Research, has a clear view on Central...