Every year Saxo unveils new Outrageous Predictions for the coming year, and this year we are back with 8 predictions. Some of you may have your own predictions for how the global economy will change in 2024, so now we’re inviting you to submit a 9th Outrageous Prediction for 2024 and enter our competition for a chance to appear on a Saxo Market Call podcast with Ole Hansen, Head of Commodity Strategy and Peter Garnry, Head of Equity Strategy on Thursday 14 December.
The competition runs from 20 November to 11 December 2023. To enter, CLICK HERE and submit your 9th Outrageous Prediction.
Submit your 9th prediction here!
Terms and conditions
The Winner will be informed by email within 24 hours of the closing date and must reply within 24 hours to claim their prize. Saxo will seek to provide the email in a timely manner, and it is the Winner’s responsibility to check spam filters. The date of the podcast is the 14th of December which cannot be changed, and will likely take place in the AEDT evening. If you are drawn as the Winner, you are not required to participate, but your participation in the podcast cannot be transferred to another person. The prize has no monetary value and cannot be exchanged for an alternative prize.
By submitting a 9th Outrageous Prediction, you agree to let Saxo use the 9th Prediction in any marketing material communicated on any of Saxo’s social media channels, platforms, or websites, as well as mentioning the Winner’s name in a Social Media announcement post and on the Podcast (if the Winner participates).
As the Podcast will be held and recorded by Saxo Bank A/S (CPH, Denmark) via Zoom, clients wishing to participate are reminded to consider the impact of the time difference between their respective region.
The competition is issued by Saxo Capital Markets (Australia) Limited (”Saxo Markets”).
*The winning Prediction must comply with any rules and regulations under which Saxo Markets is regulated, and any such rules and regulations applicable to Saxo Banks such as Privacy matters; Saxo Bank’s Notice (Policy) of which can be accessed via its website here. If the Prediction does not meet our legal requirements, a new Winner will be drawn.
2024: The wasted year
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
As US economic slowdown hints at a shift away from exceptionalism, USD faces downside with looming Fed cuts. AUD and NZD set to outperform as their rate cuts lag. JPY gains on carry unwind bets and BOJ pivot.
Amid AI and obesity drug excitement, equities see varied prospects: neutral on overvalued US stocks, negative on Japan due to JPY risks, positive on Europe. European defence stocks gain appeal.
With the economic slowdown, quality assets will gain favour, especially sovereign bonds up to 5 years. Central banks' potential rate cuts in Q2 suggest extending duration, despite policy and inflation concerns.
Commodities poised for rebound. The "Year of the Metal" boosts gold and silver, copper awaits rate cuts. Grains may recover, natural gas stabilises. Gold targets $2,300-$2,500/oz, copper's breakout could signal growth.
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
As US economic slowdown hints at a shift away from exceptionalism, USD faces downside with looming Fed cuts. AUD and NZD set to outperform as their rate cuts lag. JPY gains on carry unwind bets and BOJ pivot.
Amid AI and obesity drug excitement, equities see varied prospects: neutral on overvalued US stocks, negative on Japan due to JPY risks, positive on Europe. European defence stocks gain appeal.
With the economic slowdown, quality assets will gain favour, especially sovereign bonds up to 5 years. Central banks' potential rate cuts in Q2 suggest extending duration, despite policy and inflation concerns.
Commodities poised for rebound. The "Year of the Metal" boosts gold and silver, copper awaits rate cuts. Grains may recover, natural gas stabilises. Gold targets $2,300-$2,500/oz, copper's breakout could signal growth.