Show Notes
Today, a look at the hawkish FOMC meeting yesterday, especially Fed Chair Warsh's positioning of the rate hike yesterday as merely removing accommodation, together with the sharp market reaction that has been surprisingly quick to unwind in places. Is this in respect of the incoming BoJ, the deflation of oil prices or because we are entering a new pivot zone for interest rates and possibly the US dollar? This and much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links
Meta's Zuckerberg isn't for the AI slowdown, prefers "evaluators" DeepQuarry questions Anthropic's pre-IPO claims of its profitability (first portion of post available for free)
Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at [email protected] for feedback and questions. Click here to open an account with Saxo. Intro music by AShamaluevMusic DISCLAIMERThis content is marketing material.Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.
More from Saxo Market Call
Today we break down the big sell-off in US equities, as ironically there were almost twice as many gainers as losers in the S&P 500 yesterday, with the selling chiefly focused on AI-related companies. Elsewhere, it was a much bigger day for bonds, which rallied steeply as US treasuries finally functioned as a proper and unambiguous safe haven, at least for a day. The impact on FX from that was also interesting, as the JPY stirred more forcefully. This and much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links
Today, we look at the violent vibe shift in the US equity market, which crumbled overnight after a quite positive session, led by the very high momentum sectors that posted a solid result yesterday. It doesn't feel like this is all coming from negative reactions to earnings results from the likes of Tesla or Lam Research - but what is it? We wonder if it could be geopolitics. Also on today's pod, we delve way back into the financial history of the 1870's depression and its origins and aggravations, whether hedge fund strategies that are blowing up are further aggravating the French debt market instabilities and much more. Today's pod is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links
Today, a look at yet another day of US equity market divergences, as the major indices and semiconductors posted an indifferent to slightly negative day while most stocks were up solidly on the day. This rhymes with another market from around the years 2000-01. Also, a look at SpaceX and Netflix earnings and the very different reactions. French yields and much more also on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links
Today, we look at the markets trying to get back in a positive mood yesterday in the US, but with the broader market and the rest of the world not having any of it as oil prices surged once again and as the situation in France continues to fester. Discomfort with stability of AI "neo-cloud" companies is also weighing. With earnings season hitting full swing this week, we wonder why SpaceX is suddenly set to report earnings today. This and much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links
Today, a look at a massive comeback from further steep selling in US equities, establishing a critical line in the sand for the major indices and especially AI-adjacent names from here, effectively a bull-bear line. Elsewhere, Tesla demonstrated its new Roadster, which can both "fly" for an unknown number of seconds and "suck" itself to the road, allowing for beyond vertical adherence to a road surfaces and supposedly insane cornering abilities. Useful. More importantly, a deep-dive on the global oil picture and the troublesome Brent futures contract with Saxo Head of Commodity Strategy Ole Hansen and so much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links