Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Note: This is marketing material.
0715-0800 – Eurozone Final April Services and Composite April PMI
0830 – UK Final April Services and Composite PMI
1230 – US Mar. Trade Balance
1230 – Canada International Merchandise Trade Balance
1545 – Trump to meet Mark Carney
1700 – US Treasury to auction 10-year notes
2245 – New Zealand Q1 Unemployment Rate / Employment Change / Wages
For all macro, earnings, and dividend events check Saxo’s calendar.
The VIX rose 4.23% to 23.64, reflecting increased market caution ahead of the Fed’s interest rate decision. Short-term volatility indicators also climbed, with VIX9D rising 7.12%, suggesting heightened market anxiety. Options volume was low, with Tesla and Nvidia leading subdued activity. VIX futures remain elevated, indicating expectations of continued volatility amid trade tensions and pivotal economic events this week, particularly Wednesday's Fed announcement.
Cryptocurrency markets edged lower, with Bitcoin down 0.4% at $94,369 and Ethereum losing 1.1% to $1,800. Strategy (formerly Microstrategy) expanded its Bitcoin holdings by 6,556 BTC, now holding a total of 555,450 BTC. VanEck filed for the first US BNB ETF, while Tether revealed an AI platform integrated with Bitcoin and USDT transactions. Solana resolved a major security vulnerability without any known exploit, easing investor concerns.
For a global look at markets – go to Inspiration.