After US Treasuries and the S&P 500 index advanced for a fourth consecutive month in August, investors brace for September, a typically challenging month for markets, ahead of crucial US jobs data due on Friday. A significant shift to the far right in German state elections yesterday sent shockwaves through the European political landscape. Mensur Pocinci, Head of Technical Analysis Research, offers an update on the markets from a technical perspective and shares his outlook for the US dollar.

00:00 Introduction by Helen Freer (Investment Writing)

00:24 Markets wrap-up by Jonti Warris (Investment Writing)

07:21 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

09:49 Closing remarks by Helen Freer (Investment Writing)

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Nvidia did not meet lofty earnings expectations and its stock fell 6%, while revised Q2 US GDP figures beat expectations at 3%, meaning more stocks rose than fell on the S&P 500. US Treasury yields rose on the better economic data, although Treasuries are on track for a fourth month of gains. In Europe, inflation fell and Germany's DAX rose to near all-time highs. Asian equities are higher, led by China on reports ofincreased support for the ailing housing market, while Tokyo inflation data supports the case for further interest rate increases there. Today's key data will be the core PCE inflation figures - the US Federal Reserve's key inflation indicator. Tim Gagie, Head of FX & PM Solutions Geneva, discusses whether we have seen the end of the dollar's weakness.

00:00 Introduction by Helen Freer (Investment Writing)

00:21 Markets wrap-up by Mike Rauber (Investment Writing)

08:48 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)

12:58 Closing remarks by Helen Freer (Investment Writing)

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Equity markets rebounded strongly last week, driven by tame inflation data, stabilising macro data, and solid earnings. Quant funds are expected to rebuild their positions, and corporate America is buying the dip, with record orders for share buybacks. And Mensur Pocinci, Head of Technical Analysis, talks about why he thinks the recent bounce is an early start to the year-end rally.

00:00 Introduction by Roman Canziani (Head of Investment Writing)

00:28 Markets wrap-up by Jan Bopp (Investment Writing)

07:03 Technical Analysis by Mensur Pocinci (Head of Technical Analysis)

13:00 Closing remarks by Roman Canziani (Head of Investment Writing)

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Markets had a difficult start to the second quarter last week, with the S&P 500 posting its worst weekly performance for 3 months as geopolitical tensions in the Middle East and rising oil prices led to growing concerns about inflation. A stronger-than-expected US jobs report on Friday has led investors to continue to price in fewer Fed rate cuts, pushing yields on government bonds to key levels. Mensur Pocinci, Head of Technical Analysis, explains why 4.5% is an important level for 10-year US Treasury yields.

00:00 Introduction by Helen Freer (Investment Writing)

00:24 Markets wrap-up by Jan Bopp (Investment Writing)

07:10 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

10:21 Closing remarks by Helen Freer (Investment Writing)

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Markets took a sharp risk-off turn in late US trading yesterday. The main catalyst was rising tensions in the Middle East, with oil prices rallying above USD 90/bbl for the first time since October, which in turn added to existing fears about inflation. In Switzerland, inflation figures for March once again surprised to the downside, which put pressure on the Swiss franc. Tim Gagie, Head of FX & PM Solutions Geneva, talks about what he expects for the safe-haven currency going forward and why he expects some currency crosses to continue to trade rangebound.

00:00 Introduction by Helen Freer (Investment Writing)

00:21 Markets wrap-up by Jan Bopp (Investment Writing)

07:02 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)

11:42 Closing remarks by Helen Freer (Investment Writing)

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After a cautious start to Q2, equity markets regained their stride in Wednesday’s session climbing higher across regions. The Federal Reserve Chairman Jerome Powell said that the Fed is still in wait-and-see mode when it comes to rate cuts, but markets took more comfort from the fact that he reaffirmed that the Fed is likely to cut rates this year. Our Head of Economics & Next Generation Research, Norbert Rücker, explains the different narratives at play in the oil market and what they might mean for the future trajectory of the oil price, and Head of Equity Strategy, Mathieu Racheter, makes the case for his upgrade of global industrial stocks to Overweight.

00:00 Introduction by Helen Freer (Investment Writing)

00:28 Markets wrap-up by Bernadette Anderko (Investment Writing)

06:09 Oil by Norbert Rücker (Head of Economics & Next Generation Research)

10:05 Industrials upgrade by Mathieu Racheter (Head of Equity Strategy)

14:37 Closing remarks by Helen Freer (Investment Writing)

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The second quarter is off to a rocky start for global equities as sticky inflation data and strong economic figures have pushed bond yields higher and their prices lower, weighing on a stock market that has so far ignored the repricing of central bank rate cuts in recent months. The only asset currently seeing an upside seems to be commodities, with oil hitting a five-month high and gold reaching a record high yesterday. Fixed Income strategist Dario Messi joins the show today to discuss the latest bond moves and what they mean for investors right now.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:38 Markets wrap-up by Lucija Caculovic (Investment Writing)

06:10 Bond Market Update by Dario Messi (Fixed Income Strategy)

10:52 Closing remarks by Bernadette Anderko (Investment Writing)

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Strong US manufacturing data, pointing to expansion for the first time in over a year, pushed US Treasury yields higher and stocks lower, albeit in light trading. Meanwhile, gold continues to trade higher, almost on a daily basis. But Mensur Pocinci, Head of Technical Analysis, says investors should favour productive assets as momentum remains strong in many parts of the market.

00:00 Introduction by Helen Freer (Investment Writing)

00:28 Markets wrap-up by Roman Canziani (Head of Investment Writing)

05:56 Technical analysis by Mensur Pocinci (Head of Technical Analysis Research)

09:31 Closing remarks by Helen Freer (Investment Writing)

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The equity market rally is continuing ahead of the Easter break, while fixed income markets are a little less euphoric following Federal Reserve Governor Waller’s comments that recent economic data does not warrant as many interest rate cuts as expected. Carsten Menke, Head of Next Generation Research, argues that sentiment in the gold market is overly bullish.

00:00 Introduction by Helen Freer (Investment Writing)

00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)

06:17 Gold by Carsten Menke (Head of Next Generation Research)

10:53 Closing remarks by Helen Freer (Investment Writing)

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While there are still a few trading days left in the quarter, equity trading already seems to be driven by end-of-quarter positioning. Overnight in Asia, Japanese stocks rose as the yen fell to its lowest level against the US dollar in around 34 years, while the rest of Asia struggled for momentum. Dario Messi from Fixed Income Research joins the show today to discuss the Swiss National Bank's interest rate decision and what it means for Swiss franc-denominated bonds.

00:00 Introduction by Roman Canziani (Head of Investment Writing)

01:06 Markets wrap-up by Lucija Caculovic (Investment Writing)

06:39 CHF bonds by Dario Messi (Fixed Income Research)

10:18 Closing remarks by Roman Canziani (Head of Investment Writing)

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Social media stocks are in the spotlight as the EU takes a closer look at their activities and Florida Governor Ron DeSantis signs a bill banning minors under 14 from having social media accounts. In fixed income, the US yield curve has been inverted for more than 430 trading days, the longest period on record. In Asia, the Chinese government continues its efforts to shore up confidence amid a slowdown in foreign investment. Meanwhile, cocoa prices are at an all-time high, trading higher than copper for the first time ever. Manuel Villegas from Next Generation Research talks about Bitcoin’s healthy correction and what’s next for the world’s number one digital asset.

00:00 Introduction by Lucija Caculovic (Investment Writing)

00:23 Markets wrap-up by Mike Rauber (Investment Writing)

06:20 Digital assets update by Manuel Villegas (Next Generation Research)

10:04 Closing remarks by Lucija Caculovic (Investment Writing)

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US equities had their best week of the year, with the technology sector leading the way. Global equities were also strong. The broader risk-on sentiment was driven by relatively dovish central bank meetings on both sides of the Atlantic, including the first G10 rate cut of the cycle by the SNB. The dovish backdrop led to a sharp fall in global government bond yields. Mensur Pocinci, Head of Technical Analysis, joins the show to discuss the market's technical setup and what the strong momentum in European equity markets means going forward.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:59 Markets wrap-up by Jan Bopp (Investment Writing)

05:15 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

08:48 Closing remarks by Bernadette Anderko (Investment Writing)

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The Swiss National Bank (SNB) surprised markets by cutting interest rates ahead of other major central banks, sending Swiss equities higher yesterday. Equities were also higher elsewhere: in the US, all three major indices closed at record levels, and European equities also ended at new all-time highs, with UK equities seeing strong gains. Overnight in Asia, however, stock markets were mostly lower, with Japan – once again – being the outlier. Tim Gagie, Head of FX & PM Solutions Geneva, and Markus Waeber from Real Estate Advisory join today’s show to discuss what the central banks' decisions mean for the FX and Swiss real estate markets.

00:00 Introduction by Helen Freer (Investment Writing)

00:45 Markets wrap-up by Lucija Caculovic (Investment Writing)

07:02 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)

12:22 What the SNB rate cut means for the Swiss real estate market by Markus Waeber (Head Indirect Real Estate Advisory & Intelligence)

15:03 Closing remarks by Helen Freer (Investment Writing)

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Global equities surged, driven by US stocks, as strong retail numbers and encouraging jobless claims alleviated recession fears. US Treasury yields and the dollar also climbed. Meanwhile, gold rose on Middle East tensions and expectations of interest rate cuts. Retail giants Walmart (the world’s largest retailer) and Alibaba (China’s largest retailer) saw their shares jump, with Walmart boosting its sales guidance and Alibaba benefiting from broker upgrades despite mixed earnings. According to Mark Matthews, Head of Research Asia, major Asian markets look promising, including Japan (where a weaker yen should boost stocks), India (with its structural growth drivers), and China (too cheap to ignore).

00:00 Introduction by Helen Freer (Investment Writing)

00:34 Markets wrap-up by Mike Rauber (Investment Writing)

07:21 Asia update: Mark Matthews (Head of Research Asia)

15:17 Closing remarks by Helen Freer (Investment Writing)

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US stocks rallied yesterday, closing at all-time highs after the US Federal Reserve left its benchmark interest rate unchanged for a fifth straight meeting in a range of 5.25 to 5.5 percent. The market optimism is extending to Asia today, where stocks are at their highest levels in nearly two years as the tech sector rallies. Carsten Menke, Head of Next Generation Research, provides an update on industrial production in China, what this means for industrial metals and why we like copper.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Jonti Warris (Investment Writing)

05:45 Industrial metals by Carsten Menke (Head of Next Generation Research)

09:10 Closing remarks by Helen Freer (Investment Writing)

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Investors adopted a cautious stance ahead of the much-anticipated Fed decision, with government bond yields stabilising yesterday. That didn’t stop equities in the US and Europe from reaching new record highs. The focusnow moves to central banks for the rest of the week. Dario Messi, Fixed Income Strategist, talks about the Bank of Japan, the Swiss National Bank and what to expect from the FOMC meeting today.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:25 Markets wrap-up by Jan Bopp (Investment Writing)

07:10 Bond markets and central banks by Dario Messi (Fixed income Strategy)

11:59 Closing remarks by Bernadette Anderko (Investment Writing)

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After 17 years, the Bank of Japan has become the last global central bank to end its negative interest rate policy, but the JPY is lower as some expected even more policy tightening. US equities outperformed on strength in AI names, in particular Alphabet. Nvidia unveiled a new chip that is up to 30 times faster than its predecessor. Demand for high yield bonds remains strong despite low spreads. Oil has moved above its range from earlier in the year amid supply concerns. Manuel Villegas from Next Generation Research talks about how the price of Bitcoin has become a function of demand for the new spot Bitcoin ETFs.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Mike Rauber (Investment Writing)

07:16 Digital assets update by Manuel Villegas (Next Generation Research)

10:00 Closing remarks by Helen Freer (Investment Writing)

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With a number of major central banks meeting this week, volatility will potentially return to equity markets. Slightly weaker economic growth data, coupled with inflation that is proving stickier than expected, is making life difficult for central bankers now. Mensur Pocinci, Head of Technical Analysis, explains why investing at market tops tends to be beneficial over time.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Roman Canziani (Head of Investment Writing)

06:15 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

09:56 Closing remarks by Helen Freer (Investment Writing)

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Higher-than-expected producer prices spooked investors yesterday, sending Treasury yields and the US dollar higher and equity markets lower. In Asia, the People’s Bank of China kept its one-year medium term lending facility rate unchanged and investors are now focusing on Japan’s interest rate decision next week. Bitcoin saw a pullback, while oil climbed to a fresh 2024 high after the International Energy Agency warned of a supply deficit throughout this year. Tim Gagie, Head of FX & PM Solutions Geneva, joins today’s show to share his insights on the FX markets.

00:00 Introduction by Helen Freer (Investment Writing)

00:25 Markets wrap-up by Lucija Caculovic (Investment Writing)

06:16 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)

10:23 Closing remarks by Helen Freer (Investment Writing)

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European stocks closed broadly higher on Wednesday whilst the US took a breather, with some of the big tech stocks lower on the day. Japan was the standout Asian stock market with stocks boosted by an advance in commodity companies and a slightly weaker yen. The general market focus now turns to US PPI data due out today. Our Head of Economics & Next Generation Research Norbert Rücker, gives his latest thoughts on the oil market, and Nicolas Jordan provides the latest market insights from our CIO office.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Bernadette Anderko (Investment Writing)

06:22 Oil market update by Norbert Rücker (Head of Economics & Next Generation Research)

10:05 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)

14:04 Closing remarks by Helen Freer (Investment Writing)

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US and European equity markets put in another strong performance yesterday, climbing to fresh records as the latest hotter-than-expected inflation figures did little to alter bets the Federal Reserve will cut rates this year - even if officials keep a more cautious stance for now. Dario Messi, Fixed Income Strategist, shares details about yesterday’s US inflation report and what it means for the Fed and bond investors.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:27 Markets wrap-up by Jan Bopp (Investment Writing)

05:37 Bond market update by Dario Messi (Fixed Income Strategy)

09:54 Closing remarks by Bernadette Anderko (Investment Writing)

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US equities ended mostly lower in a calmer session yesterday ahead of today’s eagerly awaited inflation print out of the US. The Japanese yen fell against its peers after the latest comments from Bank of Japan Governor Ueda. Manuel Villegas, Next Generation Research, provides an update on Bitcoin and shares his insights into what’s driving its string of new all-time highs.

00:00 Introduction by Helen Freer (Investment Writing)

00:25 Markets wrap-up by Jonti Warris (Investment Writing)

05:30 Digital assets update by Manuel Villegas (Next Generation Research)

09:42 Closing remarks by Helen Freer (Investment Writing)

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The US labour market continues to cool, but red-hot Nvidia first hit a record high then recorded a 10% intra-day drop, the USD had its longest losing streak since last October, and gold and Bitcoin reached all-time highs – these are just some of the headlines from last week. Asia is starting this week with better inflation figures out of China, but prospects of higher interest rates and a stronger JPY mean that Japanese shares are off their all-time high. Mensur Pocinci, our Head of Technical Analysis Research, notes that in a bull market, momentum peaking indicates a slowing uptrend, which is followed by a sideways consolidation, not a lasting decline in prices.

00:00 Introduction by Helen Freer (Investment Writing)

00:26 Markets wrap-up by Mike Rauber (Investment Writing)

07:09 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

11:02 Closing remarks by Helen Freer (Investment Writing)

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Both European and US stock market indices rally to new all-time highs as the two most important central bankers hint at interest rate cuts as early as this summer. In currencies, the Japanese yen is higher again this morning, trading at multi-month highs against the US dollar. And Carsten Menke, our Head of Next Generation Research, shares his thoughts on why he thinks gold's rally has no legs.

00:00 Introduction by Helen Freer (Investment Writing)

00:24 Markets wrap-up by Roman Canziani (Head of Investment Writing)

07:13 Gold by Carsten Menke (Head of Next Generation Research)

10:36 Closing remarks by Helen Freer (Investment Writing)

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This week's inflation data releases have been favourably received by financial markets. After the UK, the US also released inflation figures that indicate further progress towards disinflation, paving the way for potential interest rate cuts beginning in September. The extent of the first cut – whether it will be 0.25% or even 0.5% – will be determined by incoming data. Also on today’s show, Norbert Rücker, Head of Economics and Next Generation Research, offers his insights on oil prices and reassures listeners that Europe won't face a gas shortage, even if supplies from Eastern Europe dwindle.

00:00 Introduction by Helen Freer (Investment Writing)

00:28 Markets wrap-up by Roman Canziani (Head of Investment Writing)

06:57 Update on oil and gas by Norbert Rücker (Head of Economics & Next Generation Research)

12:45 Closing remarks by Helen Freer (Investment Writing)

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After Fed Chair Jerome Powell’s congressional testimony yesterday, US equity markets rallied further, recouping some of Tuesday's pullback. And Europe’s STOXX 600 index reached an all-time high yesterday, ahead of today’s ECB policy rate decision. Tim Gagie, Head of FX & PM Solutions Geneva, joins us with an update on currencies and precious metal markets. And Richard Tang, Head of Research Hong Kong, talks to us about the outcome of China’s ‘Two Sessions’ politburo meeting.  

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:36 Markets wrap-up by Jonti Warris (Investment Writing)

07:34 Currencies and metals markets update by Tim Gagie (Head of FX & PM Solutions Geneva)

13:02 Outcome of China’s ‘Two Sessions’ by Richard Tang (Head of Research Hong Kong)

18:46 Closing remarks by Bernadette Anderko (Investment Writing)

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Markets were on the back foot yesterday, dragged down by tech giants such as Tesla and Apple, which added to their year-to-date losses. While tech stocks led the declines, the losses were fairly broad-based. In addition to the tech correction, some weaker than expected economic data added to fears that a soft landing might not be a done deal. The general weakness in data helped to push government bond yields lower throughout the day, with gold and bitcoin hitting new all-time highs in intraday trading. Dario Messi, Fixed Income Strategist, gives more insight into what to expect from central bank meetings in the coming weeks.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:27 Markets wrap-up by Jan Bopp (Investment Writing)

06:30 A big central bank month: Dario Messi (Fixed Income Strategy)

11:40 Closing remarks by Bernadette Anderko (Investment Writing)

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It’s a big day in politics today. Not only is it Super Tuesday in the US where primaries are being held, but China has also kicked off its National People’s Congress today, where it has set its annual growth target ‘at around 5%’. So far, China has not announced any major fiscal stimulus and as such, Asia-Pacific markets are mostly lower today. This also follows yesterday’s session in the US, where stocks took a breather from the recent rally. Meanwhile, for Bitcoin, it looks like there is no stopping the rally and we have Manuel Villegas on the show to share his views on the latest developments there.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Lucija Caculovic (Investment Writing)

05:48 Digital assets update by Manuel Villegas (Next Generation Research)

09:45 Closing remarks by Helen Freer (Investment Writing)

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European and US equity indices reached new highs on Friday and indeed, one bank has now set a 5,400 year-end target for the S&P 500. And the rally continues in Asia this morning with both Japan and India setting new highs. Ahead of a busy week that will culminate with the all-important US employment report on Friday, our Head of Technical Analysis Mensur Pocinci tackles the technical challenges of trying to spot the end of a rally … before moving on to grapple with other technical conundrums.

00:00 Introduction by Helen Freer (Investment Writing)

00:24 Markets wrap-up by Bernadette Anderko (Investment Writing)

07:29 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

11:25 Closing remarks by Helen Freer (Investment Writing)

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The release of US and European inflation data eased concerns about renewed price pressures, pushing bond yields lower and giving a boost to US equities in particular, with the S&P 500 and Nasdaq closing at all-time highs. But the real star of February in terms of monthly equity performance was Asia, with Japan (also at an all-time high) and China outperforming global equities. And India just raised its growth forecast to 7.6%, the strongest figure among the major economies. In Switzerland, there was a surprise announcement that the chairman of the Swiss National Bank, Thomas Jordan, has decided to step down. Tim Gagie, Head of FX & PM Solutions in Geneva, talks about how, contrary to some perceptions, range-bound currency markets are quite attractive.

00:00 Introduction by Helen Freer (Investment Writing)

00:24 Markets wrap-up by Mike Rauber (Investment Writing)

06:13 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)

10:17 Closing remarks by Helen Freer (Investment Writing)

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While equities traded slightly lower yesterday ahead of some key economic data due today, all the action was around Bitcoin, the largest digital asset, which shot through the USD 60,000 mark, accelerating a rally that has seen it gain 50% in February alone. And Norbert Rücker, Head of Economics and Next Generation Research, puts the latest moves in the energy market into perspective - the main message being that the energy crisis is over.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Roman Canziani (Head of Investment Writing)

06:59 European energy markets by Norbert Rücker (Head of Economics & Next Generation Research)

10:57 Closing remarks by Helen Freer (Investment Writing)

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While most investors are eagerly awaiting tomorrow's US inflation numbers, yesterday's data releases have raised some doubts about the stability of the US economy. Meanwhile in Asia, new government initiatives in Hong Kong are boosting the property sector, while the Chinese government is tightening its national security protocols. Corporate news is also moving markets, such as Apple's decision to abandon its decade-long effort to develop an electric car. In today's episode, our equity strategist, Nenad Dinic, explains why the Indian stock market stands out amongst its emerging market peers.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:23 Markets wrap-up by Lucija Caculovic (Investment Writing)

05:45 Indian equities by Nenad Dinic (Equity Strategy)

11:27 Closing remarks by Bernadette Anderko (Investment Writing)

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US benchmark equity indices broke their winning streak yesterday as fresh economic data underwhelmed investors. In Japan, core consumer inflation slowed for a third straight month in January but beat forecasts, fuelling speculation that the central bank may soon abandon its negative-interest-rate policy. And Manuel Villegas, Next Generation Research, joins us with an update on Bitcoin spot ETFs and looks at why a supply squeeze may lie ahead.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:24 Markets wrap-up by Jonti Warris (Investment Writing)

06:08 Digital assets update by Manuel Villegas (Next Generation Research)

10:15 Closing remarks by Bernadette Anderko (Investment Writing)

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While equity markets are pushing higher, bond investors need to navigate carefully. Last week’s FOMC minutes, PMIs and employment data, all had a hawkish tilt to them. US weekly jobless claims fell more than expected, showing the continued strength in the US labour market. The price components of the PMI data showed that inflationary pressures remain. And the FOMC minutes sent a clear message that the members have ruled out any interest rate cuts in the near future. Mensur Pocinci, our Head of Technical Analysis, joins the show to talk in more detail about the Japanese rally and what springtime might have in store for Swiss equities.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:27 Markets wrap-up by Jan Bopp (Investment Writing)

05:46 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

09:57 Closing remarks by Bernadette Anderko (Investment Writing)

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Nothing is certain but death and taxes … and Nvidia beating earnings. Global equity markets stormed to fresh all-time highs on Thursday following Nvidia’s blowout earnings report. The company added USD 277 billion to its market capitalisation yesterday alone, making this the biggest single-session gain in value of all time. The Nvidia-led optimism sent the S&P 500, Nasdaq 100 and Dow Jones indices to new all-time highs. However, all global equities benefited yesterday, with Europe also reaching new all-time highs. Luca Menozzi from Next Generation Research joins the show today to talk about the automation and robotics theme.

00:00 Introduction by Lucija Caculovic (Investment Writing)

00:24 Markets wrap-up by Jan Bopp (Investment Writing)

05:37 Automation and Robotics by Luca Menozzi (Next Generation Research)

09:02 Closing remarks by Lucija Caculovic (Investment Writing)

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European equities had a good session despite disappointing sentiment data from Germany while US producer prices rose less than forecast, indicating continued disinflation. This has boosted hopes for a US Federal Reserve rate cut in September, sending yields lower and stocks higher. And Dario Messi, Head of Fixed Income Research, talks about the health of the bond market, why his team upgraded the US high yield segment and what the latest data means for the Fed’s policy path.

00:00 Introduction by Jonti Warris (Investment Writing)

00:27 Markets wrap-up by Jan Bopp (Investment Writing)

06:48 Fixed income update: Dario Messi (Head of Fixed Income Research)

11:41 Closing remarks by Jonti Warris (Investment Writing)

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Giant chipmaker Nvidia published an eye-watering set of results and forecasts yesterday, sparking a rally in Asian equities this morning. Meanwhile, the minutes from the Federal Reserve’s last meeting provided more fuel to those believing that interest rates will remain where they are for longer. David Kohl, Chief Economist, puts things into perspective after the latest round of inflation prints, and Nicolas Jordan updates us on the latest views from the CIO Office.

00:00 Introduction by Helen Freer (Investment Writing)

00:43 Markets wrap-up by Roman Canziani (Head of Investment Writing)

06:45 Inflation/central bank outlook in US and Switzerland by David Kohl (Chief Economist)

10:58 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)

14:56 Closing remarks by Helen Freer (Investment Writing)

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Concerns that Nvidia may miss high expectations for its quarterly results and that the technology sector is overvalued have weighed on the broader US equity market. Later today, investors will look to the January FOMC meeting minutes for fresh clues on the Federal Reserve’s outlook. In Asia, China’s stimulus measures appear to have been successful, with stock indices rising. In today’s episode, Dario Messi from Fixed Income Research provides an update on our fixed income strategy and Mathieu Racheter, Head of Equity Strategy, discusses cyclicals versus defensive.

00:00 Introduction by Roman Canziani (Head of Investment Writing)

00:33 Markets wrap-up by Lucija Caculovic (Investment Writing)

06:34 Fixed Income update by Dario Messi (Fixed Income Research)

11:38 Cyclicals vs. defensives by Mathieu Racheter (Head Equity Strategy)

14:14 Closing remarks by Roman Canziani (Head of Investment Writing)

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Global markets have been subdued over the last 24 hours given the US holiday. In very quiet markets, the STOXX 600 built on its run of four consecutive weekly gains to close within touching distance of its record high. Overnight attention was focused on China, where stocks fluctuated after domestic banks cut a key mortgage reference rate by a record amount. Manuel Villegas from the Next Generation Research team provides the latest news on digital assets.

00:00 Introduction by Helen Freer (Investment Writing)

00:28 Markets wrap-up by Jan Bopp (Investment Writing)

06:20 Digital assets update by Manuel Villegas (Next Generation Research)

09:06 Closing remarks by Helen Freer (Investment Writing)

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While US bond markets continued to sell off last week on higher-than-expected inflation data, equities were less impressed. However, European equities managed to eke out a gain over the week for the fourth time in as many weeks. Meanwhile, Mensur Pocinci, our Head of Technical Analysis, remains bullish on US equities and shares his views on whether he thinks Japanese equities can go even higher.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Roman Canziani (Head of Investment Writing)

06:59 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

10:13 Closing remarks by Helen Freer (Investment Writing)

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European equities are close to their 2022 highs, Japanese equities are just below their 1989 highs, and US equities closed at an all-time high with the rally broadening beyond the Magnificent 7. The European bond market saw the largest corporate bond offering in more than a year from Siemens, which was more than three times oversubscribed. Shares in Hong Kong are showing signs of life, up for a third day in a row, as consumer spending in China is picking up with a surge in travel during the first six days of the holiday. Tim Gagie, Head of FX & PM Solutions Geneva, says that markets got to excited about rate cuts, and discusses the implications for currency markets.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:28 Markets wrap-up by Mike Rauber (Investment Writing)

07:32 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)

12:49 Closing remarks by Bernadette Anderko (Investment Writing)

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Equity markets rallied yesterday, shrugging off Tuesday’s US inflation data whilst embracing earnings announcements. Slightly tarnishing the mood came the news this morning that the economies in both Japan and the UK have contracted for two consecutive quarters, which means that they are technically in a recession. Despite this, the Nikkei 225 closed above 38,000 today for the first time since 1990. Carsten Menke, Head of Next Generation Research, talks us through the outlook for gold and silver.

00:00 Introduction by Helen Freer (Investment Writing)

00:23 Markets wrap-up by Bernadette Anderko (Investment Writing)

05:58 Gold update by Carsten Menke (Head of Next Generation Research)

09:50 Closing remarks by Helen Freer (Investment Writing)

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Equity and bond markets sold off after US CPI data topped estimates. The tech heavy Nasdaq was hit the hardest while the broader S&P 500 fell back below the 5,000 mark. Yields increased strongly. Dario Messi, Fixed Income Strategist, talks about how to position in such a market. And Mathieu Racheter, Head of Equity Strategy, gives an update on the earnings season.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:24 Markets wrap-up by Jan Bopp (Investment Writing)

07:18 Bond Market update by Dario Messi (Fixed Income Strategy)

12:02 Earnings Season update by Mathieu Racheter (Head of Equity Strategy)

17:01 Closing remarks by Bernadette Anderko (Investment Writing)

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US consumer expectations for inflation over the medium term have dropped to the lowest level since 2013 ahead of today’s key US CPI inflation print. Hotter-than-expected UK unemployment data is encouraging news for the labour market in the UK, where the Bank of England remains cautious about cutting interest rates prematurely. And Manuel Villegas, Next Generation Research, joins us to share his insights into crypto assets and the drivers behind the recent rally in Bitcoin.

00:00 Introduction by Helen Freer (Investment Writing)

00:31 Markets wrap-up by Jonti Warris (Investment Writing)

07:04 Digital assets update by Manuel Villegas (Next Generation Research)

11:25 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 your favourite podcast player. 

US equity markets are greeting this week at lofty levels, having been driven higher and higher by the tech mega-caps, despite the recent rise in yields. Even European markets managed to close last week higher for the third time in a row. Are investors too euphoric? Mensur Pocinci, our Head of Technical Analysis, does not think so. Rather, he says, they were too pessimistic going into 2024.

00:00 Introduction by Helen Freer (Investment Writing)

00:27 Markets wrap-up by Roman Canziani (Head of Investment Writing)

06:26 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)

10:01 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 your favourite podcast player. 

The major US and European stock indices only moved slightly, but the reaction to earnings surprises was very strong, including that of stocks such as ARM, SoftBank, Disney and L'Oreal, to name but a few. US Treasury Secretary Janet Yellen addressed concerns about the US commercial real estate market and focused on non-bank mortgage lenders. Bitcoin is showing strong gains as the new ETFs in the US are seeing steady inflows. Thomas Caflisch, Head of FX & PM Solutions, talks about how to invest in currencies when FX markets are calm.

00:00 Introduction by Helen Freer (Investment Writing)

00:21 Markets wrap-up by Mike Rauber (Investment Writing)

06:52 Currencies and metals by Thomas Caflisch (Head of FX & PM Solutions)

08:55 Closing remarks by Helen Freer (Investment Writing)

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Oil prices have rallied on reports that an Iranian retaliatory attack against Israel has grown even more likely and could be imminent. In the US, stocks closed yesterday’s session flat, maintaining the momentum from late last week as investors braced for key inflation data due this week. Manuel Villegas, Next Generation Research, provides us with the latest news from the world of digital assets including what’s driving the moves in Bitcoin and the role of Bitcoin miners.

00:00 Introduction by Helen Freer (Investment Writing)

00:24 Markets wrap-up by Jonti Warris (Investment Writing)

05:47 Digital assets update: Manuel Villegas (Next Generation Research)

09:02 Closing remarks by Helen Freer (Investment Writing)

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US stocks extended their rally yesterday on prospects that a solid global economy will continue to fuel corporate earnings. The S&P 500 climbed to a new high just shy of the milestone 5,000 mark, as the rally led by technology stocks powered ahead. We speak to our Head of Economics & Next Generation Research, Norbert Rücker, who gives an update on the natural gas market. And Nicolas Jordan, CIO Strategy & Investment Analysis, joins us to share the latest views from the CIO Office.

00:00 Introduction by Helen Freer (Investment Writing)

00:34 Markets wrap-up by Jonti Warris (Investment Writing)

07:25 Natural gas update by Norbert Rücker (Head of Economics & Next Generation Research)

11:25 Latest news from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)

14:22 Closing remarks by Helen Freer (Investment Writing)

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In the absence of any significant economic data releases, equity markets take a breather and US Treasury yields slightly retreat after a period of volatility following strong US labour market data and Jerome Powell’s comments on Sunday. Richard Tang, Head of Research Hong Kong, shares his thoughts on the latest policy actions in China and Mathieu Racheter, Head of Equity Strategy, provides an update on the US earnings season.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:25 Markets wrap-up by Roman Canziani (Head of Investment Writing)

07:07 Chinese equities by Richard Tang (Head of Research, Hong Kong)

12:23 Earnings Season update by Mathieu Racheter (Head of Equity Strategy)

15:52 Closing remarks by Bernadette Anderko (Investment Writing)

Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player. 

Yesterday's strong economic data from the US prompted traders to scale back their expectations regarding interest rate cuts, sending Treasury yields higher along with the US dollar. Equity markets suffered across the board, but overnight news of new Chinese stimulus measures improved market sentiment. We are about halfway through the earnings season and it is still making plenty of headlines. Dario Messi, from Fixed Income Research, also shares an update on bond markets in today’s show.

00:00 Introduction by Helen Freer (Investment Writing)

00:30 Markets wrap-up by Lucija Caculovic (Investment Writing)

05:33 Fixed income market update by Dario Messi (Fixed Income Strategist)

09:00 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 your favourite podcast player.