100 episodes

Saxo Bank's strategy team delivers market insights across all asset classes.

Saxo Market Call saxostrats

    • Business

Saxo Bank's strategy team delivers market insights across all asset classes.

    Market rushes to price inflation as real yields plunge

    Market rushes to price inflation as real yields plunge

    Today's slide deck: https://bit.ly/3fcHukP   -
    While nominal yields are languishing and dropping only slightly, real yields in the US have moved aggressively lower as commodity prices rise and forward inflation fears rage. We look at the implications, especially gold and look at record low yield spreads for junk corporates versus investment grade, sovereign yields in the EU and UK, discuss expectations for the BoE today and implications for sterling, the Scottish parliamentary elections, grains, and more. Today with Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.
    Intro and outro music by AShamaluevMusic

    • 21 min
    Yellen opens mouth, inserts foot.

    Yellen opens mouth, inserts foot.

    Today's slide deck: https://bit.ly/3eRPMyd   -
    Today we look at yesterday's ugly session in the US equity market, already in motion before it was badly aggravated by oddly direct comments on the possible need to raise interest rates from US Treasury Secretary Yellen. Her later clarifications helped reverse some of the damage, but the Nasdaq 100 is limping. Elsewhere, we look at soaring commodities prices, including perspective on copper, incoming earnings reports, disappointing precious metals (once again) and more. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
    Intro and outro music by AShamaluevMusic

    • 19 min
    A novel volatility hedge for equities. CB's are turning tighter.

    A novel volatility hedge for equities. CB's are turning tighter.

    Today's slide deck:  https://bit.ly/3eOAo5O   -
    The Reserve Bank of Australia teased a likely removal of policy accommodation at its July meeting overnight, which would make it the second bank after the Bank of Canada to remove monetary policy accommodation. And the market is pricing in a similar tendency from the Bank of England ahead of Thursday's meeting. We look at this, together with an interesting reversal lower in treasury yields after the US ISM Manufacturing release yesterday, talk a novel way to hedge for equity volatility, talk precious metals and a new way to invest in uranium and much more. Today with Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.
    Intro and outro music by AShamaluevMusic

    • 27 min
    Friday an end-of-month blip or "sell in May and go away"?

    Friday an end-of-month blip or "sell in May and go away"?

    Today's slide deck:  https://bit.ly/3gYj94G   -
    Today we look at the ugly session on Friday for equities and strong session for the US dollar and ponder whether this was a reflection of end-of-month rebalancing after a strong month for equities and very weak month for the US dollar or something more ominous. Certainly momentum in equities is looking pivotal if recent bearish divergence signs are confirmed. Also, the latest on the blistering run in grain prices and remarkable backwardation in soft markets, why gold is still stuck in a rut and key earnings reports and macro events for the week ahead. On today's call were Ole Hansen on commodities, and John J. Hardy hosting and on FX.
    Intro and outro music by AShamaluevMusic

    • 12 min
    A cryptocurrency conversation

    A cryptocurrency conversation

    In this special edition of the Saxo Market Call podcast, we take a 10,000 foot view of the crypto-currency market, its drivers, new innovations on the way, an assessment and ranking of risks for crypto investors, the declining Bitcoin dominance and underperformance relative to other cryptocurrencies and more. On the pod are Mads Eberhardt, our resident crypto-currency specialist and Peter Garnry, with John J. Hardy hosting. Recorded Tuesday, April 27, 2021.
    Intro and outro music by AShamaluevMusic

    • 23 min
    USD knee-jerks lower on dovish (as expected) FOMC

    USD knee-jerks lower on dovish (as expected) FOMC

    Today's slide deck: https://bit.ly/3t8CsL6   -
    Today we run through the FOMC non-event that kept the Fed in wait-and-see mode as expected, although it was sufficiently dovish to trigger a slightly lower anticipation of eventual Fed tightening and a weaker US dollar. We also look at Biden's address on his stimulus and tax proposals, important inflation expectations considerations for the development in US yields, EU yields as the German Bund trades at critical support, how EU yields are driving EURJPY, and not least, run through Apple's latest strong result and earnings reports on the docket for today. Today with Peter Garnry on equities, Althea Spinozzi on fixed income, and John J. Hardy hosting and on FX.
    Intro and outro music by AShamaluevMusic

    • 18 min

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