Podcast: A shot of Covid-19 vaccine news jolts markets
Saxo Market Call
Summary: Markets were upside down yesterday as Pfizer made a breakthrough announcement of results showing 90% effective Covid-19 vaccine significantly exceeding previous expectations of 60-70%. S&P 500 equity futures jumped 3% led by gains in energy and financial stocks while Nasdaq 100 futures were selling off hard as investors are readjusting their outlook for the technology sector but also rising yields which were evident across the board. The higher US yields also negatively impacted safe-haven currencies such as JPY and CHF. Another market that was negatively impacted by the vaccine news was gold down more than 4% responding to rising real yields and the potential lower fiscal impulse coming from governments on back of an effective vaccine. Crude oil did not respond to the same degree as energy stocks highlighting an interesting disconnect as crude oil futures obviously reflect the true impact from the vaccine news. Today with Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy hosting and on FX.
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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.