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.

    Uncomfortable correlations

    Uncomfortable correlations

    Today's slide deck: https://bit.ly/3ootp7G 
    Today we look at the high degree of correlation between US equities and US treasuries and why this is cause for discomfort, note recent surges in inflation readings and inflation expectations as a sign of an inflationary cycle igniting. We also discuss weakness, however, in major commodities since mid-last week, save for gold, where the market is attempting a breakout today. Elsewhere, we look at key earnings and macro numbers for the week ahead. On today's pod are Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
    Intro and outro music by AShamaluevMusic

    • 20 min
    Special Edition: Inflation is here - what next?

    Special Edition: Inflation is here - what next?

    This Special Edition podcast is a conversation with Saxo CIO Steen Jakobsen, who discusses the recent rise in inflation, the difficulty in defining it and measuring it and the implications of a conflux of policy choices that will continue to drive an inflation cycle unlike anything we have seen in decades. Also, we look at where central banks risk making policy mistakes in not realizing we are in a new paradigm. Hosting the pod is John J. Hardy.
    Intro and outro music by AShamaluevMusic

    • 31 min
    Special edition: What is going on with Green Transformation stocks?

    Special edition: What is going on with Green Transformation stocks?

    Today's slide deck: https://bit.ly/3hoKYmO   -
    Today Head of Quant and Equity Strategy Peter Garnry offers perspective on what has happened over the last few months with stocks linked to the "green transformation" of our economy, which have collapsed relative to the broader market and relative to black energy companies since their spectacular run-up in recent years, particularly from the depths of the Covid outbreak panic. We also engage in a discussion on whether this marks the beginning of a comeback for value-style investing after decades of wandering in the desert for value investors and whether there are parallels with this cycle to the 1999-2002 market cycle for the broader market. Hosting the pod is John J. Hardy.
    Intro and outro music by AShamaluevMusic

    • 24 min
    Market tries to bounce before and after further trauma in Asian session

    Market tries to bounce before and after further trauma in Asian session

    Today's slide deck: https://bit.ly/3bkFndf   -
    Today we assess the bounce in the most speculative corners of the market starting around the US equity open yesterday, while the broader market failed to bounce as much and Asian suffered a bit of trauma overnight, centered on Taiwanese stocks and specifically TSMC. Elsewhere, a run-down of developments in fixed income as EU yields are pushing on the key levels at cycle highs even without notable pressure from the US, look at key event risks today for US treasuries and broader markets, rundown crypto, oil and carbon emissions markets and much more in this action packed pod 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

    • 21 min
    Cross-market correlations a strong concern

    Cross-market correlations a strong concern

    Today's slide deck: https://bit.ly/3tDaVkU   -
    Today we break down an ugly day on Wall Street yesterday, one that drives a bit more concern than usual as we see signs of significant cross-market correlations, with action in commodity markets suddenly looking more wobbly. Too early to tell, but we ratchet the level of concern considerably higher on the risk of an acceleration of volatility. We also look at US treasuries failing to provide any offsetting safe haven effect ahead of important auctions, take a peek at upcoming earnings and the macro calendar and more. On today's pod were 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

    • 20 min
    Slicing and dicing the NFP knee-jerk. Steelmakers for the win?

    Slicing and dicing the NFP knee-jerk. Steelmakers for the win?

    Today's slide deck:  https://bit.ly/3hioqnE   -
    Today we look at the Friday NFP payrolls change shocker and to what degree it deserved the knee-jerk reaction it got, noting that it is very important to focus on the interesting change to the US yield curve in the wake of the data release. Elsewhere, we look at whether steel stocks are set to take over e-commerce stocks from the pandemic lows as industrial metals prices roar. USD, sterling and JPY thoughts and earnings and macro preview for the week also on the call. Today with Peter Garnry on equities and John J. Hardy hosting and on FX.
    Intro and outro music by AShamaluevMusic

    • 19 min

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