Moving Markets: Daily News Julius Baer

While most of Europe looks to Germany for football, investors are turning their attention to France, where President Macron’s decision to hold a parliamentary vote has caused quite a stir – French equities and bonds are both down on the week. Meanwhile, in the US, this week’s data pointed to a cooling of inflation and the labour market, making a strong case for interest rate cuts. David Kohl, our Chief Economist, joins the show today to share his insights into the latest US macroeconomic data and what it means for our interest rate expectations this year.
00:00 Introduction by Helen Freer (Investment Writing)
00:28 Markets wrap-up by Lucija Caculovic (Investment Writing)
07:36 Comments on latest US data and FOMC meeting by David Kohl (Chief Economist)
15:55 Closing remarks by Helen Freer (Investment Writing)
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After US consumer prices for May rose by slightly less than expected, the US Federal Reserve yesterday left its policy rate unchanged, as anticipated, but dialled back its expectations for interest-rate cuts, now pencilling in just one for the rest of the year. Carsten Menke, Head of Next Generation Research, gives an update on the gold market and central bank purchases. And Nicolas Jordan, CIO Strategy & Investment Analysis, provides a rundown of the latest news from the CIO Office.
00:00 Introduction by Helen Freer (Investment Writing)
00:34 Markets wrap-up by Jonti Warris (Investment Writing)
06:16 Gold/PBOC halt in purchases: Carsten Menke (Head of Next Generation Research)
10:17 Latest news from the CIO Office byLatest news from the CIO Office byNicolas Jordan (CIO Strategy & Investment Analysis)
13:40 Closing remarks by CIO Office by Helen Freer (Investment Writing)
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President Emanuel Macron's call for legislative elections sends shockwaves through European financial markets. It is the big day for US inflation and the Federal Reserve's interest rate decision. Apple hits a new all-time high. China remains in a deflationary environment, while Japan's producer prices surprise to the upside. Dario Messi, Fixed Income Strategy, remains positive on peripheral European government bonds despite political uncertainty in France. Tim Gagie, Head of FX & PM Solutions Geneva, discusses the news that China's central bank has stopped buying gold (for now).
00:00 Introduction by Bernadette Anderko (Investment Writing)
00:31 Markets wrap-up by Mike Rauber (Investment Writing)
07:25 European politics/The Fed by Dario Messi (Fixed Income Strategy)
13:32 FX and Metals update by Tim Gagie (Head FX & PM Solutions Geneva)
18:22 Closing remarks by Bernadette Anderko (Investment Writing)
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US stocks rose to new record highs yesterday as two of the major tech mega-caps led the way for the major indices. Meanwhile, Europe suffered a hangover of fresh political uncertainty after right-wing parties emerged victorious in the European Parliament elections over the weekend. Next Generation analyst Manuel Villegas shares his insights on the latest regulatory twists and turns in the crypto markets.
00:00 Introduction by Helen Freer (Investment Writing)
00:21 Markets wrap-up by Roman Canziani (Head of Investment Writing)
06:20 Digital assets update by Manuel Villegas (Next Generation Research)
09:17 Closing remarks by Helen Freer (Investment Writing)
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US jobs growth surged in May and wages accelerated, prompting traders to push back the expected timing of US Federal Reserve interest rate cuts. US Treasuries sold off, pushing yields higher on Friday. And while equity markets in Europe ended the day lower, US stocks initially fell but largely pared losses to end the day just slightly in the red. Markus Wachter from our Technical Analysis team talks about the technical setup for the S&P 500 and Dax indices, and why he expects US Treasury yields to fall.
00:00 Introduction by Helen Freer (Investment Writing)
00:21 Markets wrap-up by Jan Bopp (Investment Writing)
06:03 Technical Analysis update by Markus Wachter (Technical Analysis Research)
08:40 Closing remarks by Helen Freer (Investment Writing)
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The ECB cut its deposit rate yesterday, but did not commit to further rate cuts. Eurozone banks rallied the most on the prospect of fewer rate cuts than previously expected. Microsoft and Nvidia may face antitrust investigation in the US. Two giant banks, Mitsubishi UFJ and Sumitomo Mitsui, are to start selling their strategic stakes in Toyota Motor worth around USD 8.5 billion, illustrating that corporate reform in Japan is for real. India's financial markets are returning to calm after the surprise outcome of the national elections, while European parliamentary elections are in focus this weekend. Leonardo Pellandini, Equity Strategy Research, explains why we like German equities.
00:00 Introduction by Helen Freer (Investment Writing)
00:21 Markets wrap-up by Mike Rauber (Investment Writing)
06:26 German equities by Leonardo Pellandini (Equity Strategy Research)
09:43 Closing remarks by Helen Freer (Investment Writing)
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