Global Macro Strategist
Summary: Start of the week to be dominated by weekend events in the Middle East, with the drone strikes on Saudi oil processing plant. This week’s call focuses on that (very tactical horizon) as well as looks into the more important (structural horizon) implications of the FOMC decision due out on Wed, Sep 18.
Mon 16 Sep 2019
A replay of the call is available HERE
Start of the week to be dominated by weekend event in the Middle East, with the drone strikes on Saudi oil processing plant.
This week’s call focuses on that – so very tactical horizon – as well as looks into the more important – structural horizon – implications of the FOMC decision due our on Wed.
Do keep in mind for the Asia Pacific we also have monthly China growth data (which have missed earlier today across the board), RBA mins on Tuesday, 4Q NZ GDP of 2.0%e alongside Aus jobs data on Thu.
Wishing everyone a healthy, phenomenal, smooth, profitable & lucky wk up ahead.
Namaste
-KVP
**
Summary of Prior Week:
Trump also tweeted that he has advocated the opening up of the US Strategic Reserve (USR) “if needed”, which has over 700m barrels of oil. There have been only a few drawdowns of the USR during the first 1991 Gulf War, 2005’s Hurricane Katrina & 2011’s halting of Libyan export (Arab Spring).
COT Report: [@Ole_S_Hansen]
Week Ahead
Key Focus:
Fed Speakers (SGT):
Other (SGT):
Econ Data:
Greater China Focus (GST: slides 10 to 13) – Focus on Oct 1st 70th National Day, CNH, EQ & Yields
Chartography & Price Action
Don’t forget to bookmark & check our Daily SaxoStrats calls from the European morning session c. 09:00 CET
The end of the road
Emboldened by surging crude oil prices, Saudi Arabia makes waves on the international stage, as Crown Prince Mohammed bin Salman manages to create a World Champions League, after buying the UEFA Champion League franchise.
As the world embraces GLP-1 obesity wonder drugs, the people next in line to get a prescription stop caring about dieting and exercising, figuring that the drug will later solve all of their weight-related health problems.
With the US budget deficit spiraling above 10% of the GDP, the government is desperate to foster demand for US Treasuries. Under intense pressure from the White House, Congress makes income from government bonds tax-free.
After a criminal group deploys the most deceptive AI deepfake ever seen, generative AI becomes a national security threat. With public distrust soaring, governments crack down with harsh new laws, puncturing the AI hype.
To fix the divergence in the global trade and financial system, the largest deficit countries unite to negotiate new world trade terms. For surplus countries, the reset of the global economic model is a painful adjustment.
As discontent with Biden and Trump rises to fever pitch, Robert F. Kennedy Jr sees his support rising inexorably in the polls. On November 5, Kennedy wins the US presidential election, ushering in a new era in US politics.
Stepping up Japan's economic transformation in 2024, PM Kishida brings in a host of populist policies to boost domestic demand. As the GDP growth rate hits 7%, the BoJ is forced to abandons its yield curve control policy.
As people wake up to how little tax Europe’s billionaires are actually paying, the EU Commission implements a wealth tax of 2%. The tax sends shockwaves through Europe's luxury industry, with luxury giant LVMH plunging 40%.
