Moving Markets: Daily News Julius Baer

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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Nvidia became the second biggest company in the world yesterday as its market value exceeded USD 3 trillion, whilst ASML pushed LVMH aside to take over the number 2 spot in European markets. Other technology stocks also performed well – pushing their indices to new all-time highs. Markets now await more the discussion than the decision when it comes to the ECB later today: whilst the rate cut is firmly priced in, what Christine Lagarde says afterwards will be the main focus. Norbert Rücker, Head of Economics & Next Generation Research, joins the podcast to explain his ‘Cautious’ outlook for the oil markets.
00:00 Introduction by Helen Freer (Investment Writing)
00:34 Markets wrap-up by Bernadette Anderko (Investment Writing)
05:18 Update on oil / OPEC meeting by Norbert Rücker (Head of Economics & Next Generation Research)
08:44 Closing remarks by Helen Freer (Investment Writing)
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The Swiss equity market continues to shine among its European peers, with inflation well below the Swiss National Bank’s upper target and the stock market outperforming. In Asia, all eyes are on the Indian elections, where Prime Minister Modi’s party failed to win an outright majority but he looks set for a third term in office. Mark Matthews, Head of Research Asia, shares his views on the Indian election and reviews the Chinese and Japanese markets. Dario Messi from Fixed Income Research discusses our expectations for tomorrow’s European Central Bank rate decision.
00:00 Introduction by Bernadette Anderko (Investment Writing)
00:44 Markets wrap-up by Lucija Caculovic (Investment Writing)
05:55 India election results & Asia calls by Mark Matthews (Head of Research Asia)
14:36 Bond markets update by Dario Messi (Fixed Income Strategy)
19:48 Closing remarks by Bernadette Anderko (Investment Writing)
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A flurry of weaker US economic data, which included a slowdown in factory output and a surprise contraction in the construction industry, saw the US dollar index drop to a new two-month low. The data also saw US equities post lacklustre, flat returns yesterday, while the US bond market rallied and US Treasury bond yields fell. Manuel Villegas, Next Generation Research, provides us with an update on digital assets, and takes a closer look at the approval of Ethereum ETFs and the topic of regulation.
00:00 Introduction by Helen Freer (Investment Writing)
00:24 Markets wrap-up by Jonti Warris (Investment Writing)
05:32 Digital assets update by Manuel Villegas (Next Generation Research)
08:37 Closing remarks by Helen Freer (Investment Writing)
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Major stock market indices are building on May's strong performance as we enter the meteorological summer here in Europe. In Asia, Indian markets are leading the way as exit polls show a landslide victory for incumbent Prime Minister Narendra Modi. Mensur Pocinci, Head of Technical Analysis, believes there is more upside ahead for both equities and gold.
00:00 Introduction by Helen Freer (Investment Writing)
00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)
06:29 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)
09:35 Closing remarks by Helen Freer (Investment Writing)
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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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