Morning BrewNovember 30 2021
Senior Relationship Manager
Summary: Moderna triggers risk off sentiment
Moderna triggers a risk off move as the company stated that it`s vaccination may be less effective against the new Omicron strain compared to delta.
Stocks and oil fall with Dax and Eurostoxx 50 down app 1.5% and US futures 0.3% to 1.2% Dax tested the 15000 support over night, if broken the way to 14800 would be open. Yesterday markets had closed friendly after US president Biden said that Omicron-related lockdowns were off the table for now and he urged Americans not to panic about the variant. That optimism has faded for now.
Tesla could rise by 5% as Elon Musk called for production improvements, Twitter lost some ground on news that CEO Dorsey steps down and Moderna could gain 11%.
US 10 year yields fall to below 1.50 again and the USD trades a little weaker on the assumption that the Fed will be less hawkish with a new corona variation around.
EURUSD trades 1.1320, GBPUSD 1.3320, Gold and Silver at 1792 and 22.85, Bitcon gives up sonme of yesterdays gains to trade at 56600.
The Swiss franc rises to six year high against the Euro as the SNB remains on the sidelines.
In the US, Powell, Clarida, Mester will be speaking today and Congress could vote as early as tomorrow to ensure funding the federal government.
In terms of economic data we are expecting several European GDP numbers (8:45 FR, 9:00 IT) , German unemployment at 09:55 and EU inflation at 11:00, the Canadian GDP at 14:30 CET. The Swiss KOF indicator will be published at 9:00 as well.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.