Moving Markets: Daily News Julius Baer

Yesterday’s weaker-than-expected US GDP data helped to boost rate cut expectations by the Fed and bring yields down from their highs. And while equity markets in Europe and Asia gained, tech stocks in the US came under selling pressure. Disappointing earnings data and US officials reviewing licenses to chipmakers for shipments to the Middle East pulled the sector down. Tim Gagie, Head of FX & PM Solutions Geneva, talks about the importance of central bank meetings in the coming weeks, recent developments in precious metals and why he thinks the recent CHF strength will only be temporary.
00:00 Introduction by Helen Freer (Investment Writing)
00:21 Markets wrap-up by Jan Bopp (Investment Writing)
05:59 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva
09:59 Closing remarks by Helen Freer (Investment Writing)
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Markets came under pressure yesterday after a USD 44bn Treasury auction saw weak investor demand, following two lacklustre auctions on Tuesday. The broad risk aversion gripping markets comes as rising bond yields are putting an increasing strain on risk assets. Norbert Rücker, Head of Economics & Next Generation Research, comments on the latest drivers in the oil market and shares his outlook for oil prices.
00:00 Introduction by Helen Freer (Investment Writing)
00:27 Markets wrap-up by Jonti Warris (Investment Writing)
06:25 Oil update by Norbert Rücker (Head of Economics & Next Generation Research)
10:24 Closing remarks by Helen Freer (Investment Writing)
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While equities were broadly flat on Tuesday, US Treasury yields jumped on weak 2- and 5-year auctions and comments from Minneapolis Fed President Neel Kashkari, who said policymakers had not completely ruled out further rate hikes - even if the current policy stance was restrictive. Fixed Income strategist, Dario Messi, explains what's behind the more cautious tone from Fed speakers and what it means for investors.
00:00 Introduction by Bernadette Anderko (Investment Writing)
00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)
05:02 Bond markets update by Dario Messi (Fixed Income Strategy)
09:56 Closing remarks by Bernadette Anderko (Investment Writing)
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Germany's Ifo business climate survey shows an improved outlook, while European equities see renewed inflows. Elon Musk's AI startup xAI raises USD 6 billion in its second round of funding. Japan's inflation picks up, supporting the case for higher interest rates. Shanghai makes it easier for home buyers. And the US moves to T+1 stock settlement. Manuel Villegas of Next Generation Research wonders if it will be ‘sell the news’ once Ethereum ETFs will be trading on US exchanges.
00:00 Introduction by Bernadette Anderko (Investment Writing)
00:24 Markets wrap-up by Mike Rauber (Investment Writing)
07:24 Digital Assets update by Manuel Villegas (Next Generation Research)
12:12 Closing remarks by Bernadette Anderko (Investment Writing)
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Fresh data from China showed that industrial profits rose, boosting Asia-Pacific markets today. Meanwhile, Ethereum, the second largest digital token, rose as the US SEC signed off on a proposal by major US exchanges to list Ether-linked products. Gold edged higher this morning, while oil prices are in a holding pattern ahead of the OPEC+ meeting later this week. Today’s public holidays in the US and UK are expected to keep trading relatively thin. Mensur Pocinci, Head of Technical Analysis, joins us today to discuss what the charts say about where equities and bonds might go from here.
00:00 Introduction by Bernadette Anderko (Investment Writing)
00:24 Markets wrap-up by Lucija Caculovic (Investment Writing)
06:03 Technical analysis update by Mensur Pocinci (Head of Technical Analysis Research)
10:41 Closing remarks by Bernadette Anderko (Investment Writing)
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Stronger US economic data reduces the case for an interest rate cut, weighing on gold, US Treasuries and global equities. Bucking the trend, Nvidia was up almost 10% and its market cap is now larger than the entire German stock market. The latest eurozone data points to a recovery. Ethereum received a big regulatory boost and the launch of spot Ether ETFs in the US looks more likely. Tim Gagie, Head of FX & PM Solutions Geneva, notes that the CHF, which has now weakened slightly, had been too strong and recalls the time when one of his British pounds bought him more than two Swiss francs.
00:00 Introduction by Helen Freer (Investment Writing)
00:24 Markets wrap-up by Mike Rauber (Investment Writing)
07:30 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)
11:58 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 wherever you get your podcasts.